🇨🇦 TODAY: The Bank of Canada cut its key interest rate by 25 bps to 2.50%. https://t.co/g1Y2pGp2SR ...

The Dow Jones Industrial Average advanced and the Nasdaq fell Wednesday morning, hours before the Federal Reserve is widely expected to cut its benchmark interest rate for the first time this year. https://t.co/CfNUvGDx2e ...

What does today’s Fed rate cuts mean for us? 👀Hear it straight from @aintomega in our recent #Bitget X Space https://t.co/fsFIFQOd8tBitget (@bitgetglobal):https://t.co/x3nMSHXIp6 ...

Leadership & Strategy - Bank of America appointed Dave Athanasiou and Jim Demarr as co-presidents to drive company-wide initiatives focused on long-term growth and returns, overseeing the bank's eight lines of business [1][3] - The leadership change aims to leverage the time of key executives and company-wide initiatives, while allowing business leaders to continue driving progress [5] - Bank of America emphasizes succession planning as a duty to the board, ensuring a pipeline of experienced candidates to run the company in the medium to long term [6] Growth & Efficiency - Bank of America is focused on organic revenue growth, expense efficiency, and the application of technology to drive business [11] - The company aims to close a relative value gap by showcasing its organic growth engine, with projections for earnings growth rates faster than the average company [12][14] - Bank of America is implementing workstreams to drive expense efficiency, implement new technologies, and manage credit risk [9] Investor Relations & Transparency - Bank of America held its first Investor Day in 15 years to showcase the company's current standing, organic growth, and unique initiatives [12][17] - The company aims to provide greater transparency and availability of information to investors, despite potential shifts in reporting frequency [20][22] - Bank of America highlights its competitive position as the largest small business lender and its competitive organic growth rate [16] Employee Investment & Labor Market - Bank of America is increasing its minimum wage to $25 per hour, equating to a $50,000 starting salary, along with enhanced benefits [24][28] - The company is committed to hiring 10,000 military veterans over the next five years and increasing opportunities for community college graduates [26] - Bank of America sees the labor market as more balanced, with turnover rates decreasing due to a career-oriented mindset among employees [30][33] Technology & Headcount - Bank of America is carefully managing headcount, leveraging technology like AI (Erica with 3 billion customer interactions) to improve efficiency [22][35] - The company is redeploying and reskilling employees to focus on high-value tasks that machines cannot perform [42][43] - Bank of America is managing headcount carefully, hiring approximately 1,300 to 1,500 people per month, focusing on talent acquisition from schools, veterans, and community colleges [37] Economic Outlook & Monetary Policy - Bank of America's experts believe the deceleration of growth is due to higher interest rates and uncertainty in tariffs [51] - The company anticipates the economy will grow back out, with next year predicted to be better than this year [53][54] - Bank of America believes the Federal Reserve has to adjust to the inflation picture and be mindful of the inflation side when considering rate cuts [54]

Doesn’t matter what the rate decision is. Lower by end of week. Much lower before month end ...

Analysts are watching whether Trump-appointed Fed governors will back a larger rate cut or instead negotiate for stronger interest-rate clues https://t.co/ZzVjC4kDbJ ...

LIVE: Fed Chair Jerome Powell delivers interest rate decision for September About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/Ya ...

Core Insights - The article discusses the current state of money market account (MMA) rates, highlighting the importance of finding competitive rates as interest rates decline following recent Federal Reserve cuts [1][4]. Group 1: Current MMA Rates - The national average interest rate for money market accounts is 0.59%, while top rates can exceed 4% APY, comparable to high-yield savings accounts [2]. - TotalBank currently offers the highest MMA rate at 4.41%, which is over seven times the national average [7]. Group 2: Impact of Federal Reserve Actions - Deposit account rates, including money market rates, are influenced by the federal funds rate set by the Federal Reserve. When the Fed lowers its rate, deposit rates typically decrease [3]. - Between July 2023 and September 2024, the Fed maintained a target range of 5.25%–5.50%, but subsequently cut the federal funds rate by a total of 100 basis points by December 2024, leading to a decline in money market rates [4]. Group 3: Considerations for Savers - Money market accounts are attractive for savers due to their elevated rates, safety, and liquidity, making them suitable for those with short-term savings goals or emergency funds [5][6]. - For conservative savers, money market accounts are appealing as they are FDIC insured and protect principal, although riskier investments may be necessary for long-term savings goals [6].

Ghana’s central bank is set to deliver another supersized interest-rate cut as inflation is expected to return to its target range before year-end https://t.co/V5wcIFJMPR ...

Economic Data Summary - Retail Sales for August increased by +0.6%, double the expected +0.3%, reverting to the baseline seen in late 2024 [1] - Excluding auto sales, Retail Sales rose by +0.7%, which is 10 basis points higher than the upwardly revised July figure, marking the second-highest increase this year [2] Inflation Indicators - The Import Price Index for August showed a positive change of +0.3%, contrasting with an expected decline of -0.2%, marking the first back-to-back positive reports since February [4] - Export prices also increased by +0.3% month-over-month and +3.4% year-over-year, the highest level seen in 2025 [5] Federal Open Market Committee (FOMC) Meeting Insights - The FOMC meeting is set to include 12 voting members, with new developments including the addition of a Fed Governor [6] - Stephen Miran, Chairman of the Presidential Council of Economic Advisors, is expected to advocate for a more significant rate cut than the anticipated 25 basis points [7] - The previous FOMC meeting saw dissenting votes for the first time in 30 years, indicating potential shifts in monetary policy perspectives [8]