European equity markets are expected to open slightly lower Thursday as traders digest sluggish economic growth.
Federal Reserve officials still have a recession as the most likely base case for the U.S. economy, but there was growing optimism at the last meeting that a true "soft landing" could be achieved.
"Given the continued strength in labor market conditions and the resilience of consumer spending, however, the staff saw the possibility of the economy continuing to grow slowly and avoiding a downturn as almost as likely as the mild-recession baseline," the minutes said.The Federal Reserve expects to raise rates further from current levels, albeit at a slower-than-expected pace, a summary from the central bank's June meeting showed.
"Many [officials] also noted that, after rapidly tightening the stance of monetary policy last year, the Committee had slowed the pace of tightening and that a further moderation in the pace of policy firming was appropriate in order to provide additional time to observe the effects of cumulative tightening and assess their implications for policy,"
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The European Union's new plan to curb deforestation is deeply flawedA new EU law aims to stop companies in the bloc contributing to deforestation, but researchers say it there is deep uncertainty about how effective it will be.
Read more »
Meta Set to Launch Twitter Rival ‘Threads’ on ThursdayMeta’s Twitter-rival app Threads is set to launch Thursday in what could prove to be the biggest challenge yet to Elon Musk’s social media platform since his takeover last year.
Read more »
UEFA removes Spanish club Osasuna from European competition for decade-old match-fixingSpanish club Osasuna was removed from the Europa Conference League on Wednesday by UEFA because former club officials were implicated in fixing matches a decade ago.
Read more »
Threads, a potential rival to Twitter, to launch ThursdayThreads is joining the crowded social media landscape as Twitter undergoes numerous changes on its platform.
Read more »
European shares fall as China weakness, global growth concerns weighEuropean shares fell on Wednesday as fresh data pointing to China's faltering economic recovery as well as slowing services sector activity in the euro zone stoked concerns about a sharp hit to global growth.
Read more »