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US retail sales see slight rise, beating expectations
US retail sales see slight rise, beating expectations
Business and Economy
by  AFP

US consumer spending rose only slightly in August, government data showed Tuesday, with consumers appearing to shift towards essentials in the face of high interest rates. Overall retail sales rose unexpectedly by 0.1 percent from July to August at $710.8 billion, defying analysts' anticipation of a 0.2 percent decline, according to Department of Commerce data.

US Fed begins two-day meeting set to end with rate cut
US Fed begins two-day meeting set to end with rate cut
Business and Economy
by  AFP

The US Federal Reserve began a two-day interest rate discussion on Tuesday that is all-but-certain to end with its first cut since March 2020, as inflation continues to ease. A rate cut of any size would support US consumers, who are feeling the effect of interest rates at a 23-year high of between 5.25 and 5.50 percent, impacting the cost of borrowing on everything from mortgages to car loans.