Investors will focus on the Federal Reserve’s outlook for the US economy when the central bank finishes its two-day meeting to set interest rates on Wednesday. Markets overwhelmingly expect borrowing costs to remain unchanged at between 4.25 and 4.5 per cent, based on futures markets prices. Instead investors will try to gauge chair Jay Powell’s … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A former senior Federal Reserve official was arrested on Friday after US prosecutors accused him of passing on economic secrets to China. John Rogers, a senior adviser in the Fed’s international finance division from 2010-21, … Read more
NORTHBROOK, Ill., October 17, 2024 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of September of $889 million or $702 million, after-tax, including $630 million, pre-tax, related to Hurricane Helene. Total catastrophe losses for the third quarter were $1.70 billion or $1.35 billion, after-tax, and total catastrophe losses for September year-to-date were $4.55 billion or $3.60 billion, after-tax. During … Read more
