December 30, 2024
United States:
US Economy Surprised Again in 2024 Despite Fed, Election Drama
Over the last few years, the US economy has consistently defied expectations for a slowdown, and 2024 was no different.
Despite uncertainty around a presidential election, elevated interest rates and a cooling labor market, economic growth remained solid this year. The US is set to be the top performer among Group of Seven countries, according to International Monetary Fund projections.
Europe:
ECB’s Stournaras Says Pace of Rate Cuts Should Be Gradual
The European Central Bank’s reductions in borrowing costs should be “gradual,” according to Governing Council member Yannis Stournaras.
“Given the heightened uncertainty, our moves should be gradual and our pace steady, continuing to be based on the available data,” the Greek central bank chief told To Vima newspaper in an interview.
Asia:
China Urges Local Governments to Give Cash Handouts for New Year
China’s central government urged local authorities to offer handouts to people struggling with the cost of living, Xinhua News Agency reported, citing a notice from the Ministry of Civil Affairs.
Municipalities with the means are encouraged to provide financial aid ahead of the New Year and the Lunar New Year festival in late January, state-owned Xinhua reported on Saturday.
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