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Fed’s Powell: Soft landing unlikely to be celebrated

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Federal Reserve Chair Jerome Powell delivered a sobering message to lawmakers on the U.S. House Financial Services Committee, indicating that any declaration of a “soft landing” for the economy would not come from the Fed.

During testimony before the committee, Powell navigated questions about the upcoming presidential election and steered clear of declaring victory over achieving the sought-after soft landing – characterised by low inflation and low unemployment.

Representative Al Green, a Texas Democrat, queried Powell about the possibility of an official announcement regarding a soft landing, especially in a political climate where competing claims about the economy’s health persist.

Powell’s response underscored the Fed’s cautious stance.

“We are just going to keep our heads down and do our jobs and try to deliver what the public is expecting from us. We wouldn’t be declaring victory like that.”

This exchange shed light on Powell’s pivotal role in the upcoming presidential race, with both President Joe Biden and former President Donald Trump having appointed him as Fed chair.

The outcome of the election may hinge, in part, on Powell’s decisions regarding monetary policy.

Amidst a climate of political uncertainty, Powell aims to remain neutral and avoid entanglement in partisan disputes.

Regardless of the election outcome, Powell emphasised that the U.S. economy is on a positive trajectory, aligning with the conditions indicative of a soft landing.

Despite indicators suggesting the possibility of a soft landing, Powell refrained from celebrating prematurely.

“That’s the economy that we’re trying to achieve. We’re on a good path so far to be able to get there,” he said.

“But I don’t want to put the label on it. Other people can do that.”

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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NASA astronauts phone home, confident Boeing’s Starliner will return to Earth safely

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Stranded NASA astronauts express confidence in Boeing’s Starliner spacecraft, assuring its capability to safely transport them back to Earth from the International Space Station.

The astronauts, over a video call to NASA, highlighted Starliner’s enhanced safety features and testing protocols as reassuring factors for their safe return.

“I have a real good feeling in my heart that this spacecraft will bring us home, no problem…”, said Sunita “Suni” Williams, one of the stranded NASA astronauts.

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Leaders

Franchising vs. Independent: key differences to choosing the right SMB model

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With latest Australian Federal budget, many SMB’s are weighing their options when selecting a suitable business model.

Franchising provides brand recognition, operational support, and economies of scale but involves ongoing fees.

Independent businesses offer full control and profit retention but face higher costs and regulatory challenges.

For risk and reward, the franchising model reduces risk through established practices and support but involves ongoing fees and profit-sharing with the franchisor.

On the alternative, independent businesses retain full control of profits but face higher risks and responsibilities in managing the business.

Sonia Shwabsky, CEO at Kwik Kopy Australia, joins to share her key insights on SMB’s. #featured

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Money

Boeing face delivery delays following guilty criminal charge plea

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Boeing’s deliveries are down after months of controversy, is it because they can’t make the planes, or because airlines right now don’t want them?

Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States in connection with the investigation into two fatal crashes involving its 737 MAX aircraft.

Boeing reported a significant 27% decrease in deliveries for June compared to the same month last year, possibly attributing the decrease to the companies ongoing controversies.

Aviation expert Geoffrey Thomas joins to discuss. #featured

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