Report comes amid upheaval in retail landscape
Powell declined to provide any hints of when the first rate cut would occur
The Fed likely won’t wait until inflation reaches its 2% target before cutting rates, Powell tells House panel
Decision follows similar delays by regulators in Europe, U.S.
Global revenues up driven by debt issuance, M&A advisory fees, LSEG reports
Powell said the U.S. economy and job market remain fundamentally healthy
Recorded pace was slowest quarterly growth since spring 2022
Moderate price growth is forecast, and arrears is expected to rise slightly
Weaker labour market, still-high interest rates and dwindling savings to crimp consumer spending
Justices left in place provision of 2017 tax law expected to generate $340 billion, mainly from foreign subsidiaries of domestic corporations