- Raphinha hat-trick helps Barca thrash Bayern in Champions League
- Liverpool sink Leipzig to continue strong start under Slot
- Haaland acrobatics light up Man City rout of Sparta Prague
- Global business web behind Malaysia's 'houses of horror' youth homes
- Chair of global plastics talks pledges deal next month
- French mass rape victim tells court she is 'broken' but determined
- Lebanon media says Israel strikes Beirut suburbs, office of pro-Iran broadcaster
- Embiid, George out for 76ers' NBA season opener
- G7 to make $50 bn Ukraine loan available by year-end: Yellen
- US fines Apple and Goldman Sachs over Apple Card
- Over 350 green activists killed since 2018 in nature summit host Colombia: report
- Harris berates 'unhinged' Trump over Hitler remarks
- Turkey says PKK 'likely' behind deadly defence firm attack
- Proportion of women killed in conflict doubled in 2023: UN
- Five dead, 22 hurt in attack on Turkey defence firm
- US businesses 'hesitant' before 2024 elections: Federal Reserve
- Leverkusen held to stalemate in Champions League by battling Brest
- Frustrated Atalanta held to goalless draw by Celtic in Champions League
- Djokovic won't play Paris Masters, leaving doubt over season
- Bolivian transport workers strike over fuel shortages
- Fury expects to knock out Usyk in heavyweight title rematch
- Georgia ruling party stages mass rally ahead of key vote
- Attack kills 4, injures 14 at Turkey defence firm
- Another French top pick: Zaccharie Risacher starts life in the NBA
- EU chief starts Balkans tour, says enlargement 'top priority'
- Destitute Gazans cold 'every night' as winter approaches
- Asalanka stars as Sri Lanka defeat West Indies in second ODI, clinch series
- 'The whole city shook': Israel pounds Lebanon's ancient Tyre
- Belarus to hold presidential vote on January 26
- BHP denies responsibility for 2015 Brazil mine disaster at London trial
- Lagarde says ECB should be careful with rise in emerging currencies
- Shiffrin to skip downhill, no stress over landmark World Cup victories
- US says N.Korea sent 'thousands' of troops to Russia
- Emery already one of 'Villa's greats', says McGinn
- 4 dead, 14 hurt in attack at Turkey defence firm
- Activists take German government to court over biodiversity
- US existing home sales slip in September to near 14-year low
- Bank of Canada cuts rates, says fight against inflation 'worked'
- Zimbabwe smash T20I record with 344-4 against Gambia
- Boeing reports $6.2 bn loss as it awaits vote on end to strike
- Mourinho says Man Utd 'will succeed sooner or later'
- China should use fiscal policy to boost growth: IMF
- Wolfspeed and ZF put German chip factory on ice
- Putin faces calls for peace at flagship BRICS summit
- Stock markets and oil prices retreat
- Dupont back in France squad for November internationals
- Caelan Doris to captain Ireland in November rugby Tests
- 14 dead, thousands evacuated as tropical storm batters Philippines
- Boeing reports $6.2 bn loss on strike, defense contract woes
- Germany's Scholz heads to India despite differences on Russia
RBGPF | 1.59% | 63 | $ | |
RYCEF | -0.96% | 7.29 | $ | |
CMSD | -0.69% | 24.76 | $ | |
CMSC | -0.39% | 24.64 | $ | |
NGG | 0.23% | 66.44 | $ | |
RIO | -1.54% | 64.49 | $ | |
SCS | -2.73% | 12.47 | $ | |
GSK | -0.05% | 37.98 | $ | |
VOD | -0.95% | 9.46 | $ | |
RELX | -0.43% | 46.82 | $ | |
BTI | -0.52% | 34.71 | $ | |
BCC | 0.19% | 133.91 | $ | |
JRI | -0.15% | 13.05 | $ | |
AZN | -0.48% | 76.95 | $ | |
BP | -0.86% | 31.31 | $ | |
BCE | -0.33% | 33.21 | $ |
US businesses 'hesitant' before 2024 elections: Federal Reserve
Uncertainty about the upcoming US elections had cooled economic activity across the country, the Federal Reserve said Wednesday, noting that many businesses and consumers were pausing major decisions until after Election Day.
US presidential and legislative elections take place on November 5, with Republican former president Donald Trump running against Democratic Vice President Kamala Harris.
Every seat in the House of Representatives is also up for grabs, along with a third of the seats in the US Senate.
While the overall economic picture has changed little since early September, respondents in most Fed districts noted that many businesses were hesitant to invest ahead of the elections, the US central bank said in its "beige book" survey of economic conditions.
In the Boston Fed's district, "contacts saw risks to the overall business climate from uncertainty surrounding the presidential election," the Fed said.
The New York Fed reported similar concerns, while noting that hiring had remained subdued, "as businesses remained hesitant to make hiring decisions due to uncertainty surrounding the presidential election."
Several contacts reported that they saw the pre-election uncertainty as normal, and that they expected business activity and consumer confidence to pick up again after November 5.
One textile manufacturer in the Richmond Fed's district said they "expected tepid demand because customers were buying cautiously until the new year due to the 'usual nervous period' ahead of elections."
Overall, "contacts were somewhat more optimistic about the longer-term outlook" despite the uncertainty in the run-up to November 5, the Fed said.
US inflation has "continued to moderate with selling prices reportedly increasing at a slight or modest pace in most Districts," the Fed said, adding that, on balance, "employment increased slightly during this reporting period."
P.Anderson--BTB