ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
The Federal Reserve kept its key interest rate unchanged again Wednesday and scaled back its forecast from three rate cuts to just one this year after an inflation pickup in early 2024. |
The outlook will likely disappoint forecasters, who briefly hoped the Fed might order two rate cuts later this year, based on an encouraging inflation report that came out the same day. |
When will the Fed start cutting interest rates? |
Investors who bet on the movements of interest rates seem to have a consensus, following Wednesday's inflation report and interest-rate announcement. |
Almost two thirds of interest-rate investors think the Fed will start easing rates following its meeting on Sept. 18, Jim Sergent reports. |
Only a day before, investors' bets on a September rate cut were very different. |
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In his latest match, Hulk Hogan is taking on the beer industry. |
Terry Bollea, better known as professional wrestling star Hulk Hogan, has launched a new premium brand named "Real American Beer." |
The Hall of Fame wrestler will distribute his easy-drinking light lager across 17 states this summer with several retail partners to bring Americans together, one beer at a time. The malt is said to be meticulously brewed, with 100% North American ingredients and a 4.2% ABV. |
Provenance aside, with that flavor profile and alcohol content, some connoisseurs might question whether the drink is real beer – but surely not to Hulk Hogan's face. |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | The Fed pared its forecast to 1 rate cut in 2024 despite Wednesday's CPI report which showed a further inflation slowdown. | | | |  | After May inflation reading and Fed meeting, investors make new bets on the Fed's first interest rate cut | | | | Terry Bollea, better known as WWE star Hulk Hogan, has launched "Real American Beer," which will distribute across 17 states this summer. | | | | Consumer Price Index readings came in cool on Wednesday. See how the inflation measure compares to its rival index. | | | | Walmart is set to bring digital shelf labels to thousands of its stores in an effort to help with price changes, the retailer announced. | | | | Great looking and fun to drive cars that run from affordable to exotic. | | | | SpaceX and Elon Musk were sued by 8 engineers who say they were fired for raising concerns over allegations of sexual harassment and discrimination. | | | | The estimate for Social Security's 2025 cost-of-living adjustment (COLA) dips as inflation cools in May. | | | | New York has the most millionaires, with 1 of every 24 people in the city falling under this category; other cities can claim higher concentrations. | | | | A new survey by Wallethub shows how consumers feel about their purchases via social media. | | | | |  | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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