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Traders pare bets Fed will cut rates in March after inflation data By Reuters

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

2024-01-11 13:50:58

© Archyde.com. FILE PHOTO: Federal Reserve Board Chairman Jerome Powell presents the Monetary Policy Report to Senate Banking Committee during a hearing on The Semiannual Monetary Policy Report to the Congress on Capitol Hill in Washington, U.S., February 12, 2020. REUT

(Archyde.com) – Traders on Thursday pared bets that the Federal Reserve will begin reducing interest rates in March, following a U.S. government report showed inflation was stronger than anticipated in December.    Futures contracts that settle to the Fed’s target for the overnight lending rate between banks fell following the data, which showed the consumer price index was up 3.4% in the last month of 2023. Futures contract prices now imply regarding a 60% chance of a March rate cut, versus the 70% chance seen before the data.     Traders now expect the policy rate, currently in the 5.25%-5.5% range, to end the year at around 3.92%, rate futures prices show. They earlier had priced in a year-end policy rate of 3.88%

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#Traders #pare #bets #Fed #cut #rates #Marchfollowing #inflation #data #Archyde.com

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News

Minister Mario Marcel’s Meeting with CPC: Proposals for Growth, Tax Reform, and State Reform

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

2024-01-11 12:17:08

Within the framework of the Pact for Growth, Social Progress and Fiscal Responsibility (Fiscal Pact), the Minister of Finance, Mario Marcel, led the first meeting of the year with the Confederation of Production and Commerce (CPC), union that brings together the country’s largest businessmen.

At the meeting, the proposals made by the union on tax matters, State reform and growth were addressed, with emphasis on the points in common between their approaches and the contents of the Pact presented by the minister at the end of 2023.

“We have noted important coincidences. These proposals are framed in a climate, at a time in which we are beginning to see many more positive signs in the economy and where we are also showing the steps that express the priority that the government has assigned to sustainable growth,” said Marcel following the meeting.

Likewise, the Secretary of State explained that regarding the CPC’s proposals related to taxes A distinction was made between tax compliance measures and income tax measures.

On the growth side, the additional proposals that the CPC included in its text were addressed, which might be analyzed in the sessions of the Pro-Growth Cabinet; and finally The content of the measures related to State reform was clarified.

“In general, the truth is that there are many, many coincidences. It is a question of semantics whether one considers this alternative or not (the CPC proposal), but the important thing is the substance and the substance is one in which we have many points of convergence and where we have areas in which we are available to work together. to move them forward,” reflected the authority.

Income tax

For this reason, Marcel recalled that within the preparation of the income tax project, the commitment made by the Government is “from now until the beginning of March to have a process of preparing the proposal, in which “We will listen and consider any alternative proposals.”

And he added: “in the particular case of the Confederation, There is a very specific proposal regarding rates on distributed dividends, which is proposed in the logic of compensating for the effect of lower collection generated by a decrease in the first category rate, that we value.”

This proposal, the minister assured, follows certain criteria and principles that are “consistent with what was stated in the Pact and therefore we are going to study it. We are going to try to delve deeper into the content of what is proposed to us and also perhaps find solutions to some difficulties that may exist in its design. Of course, we still have work to do ahead of us,” he concluded.

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#Marcel #meeting #year #large #businessmen #Fiscal #Pact #coincidences

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world

Traditional Bavarian Restaurant Forced to Close Due to Lack of Staff: Impact of Citizen’s Money

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

2024-01-11 11:14:28

Published11. January 2024, 12:14

Bavaria: Due to receipt of citizens’ money: traditional resti remains closed

The St. Bartholomä restaurant on Königssee in Bavaria had to close temporarily. The reason: The staff would rather take citizens’ money than work.

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The St. Bartholomä restaurant on Königssee in Berchtesgadener Land is actually a well-visited excursion destination. Now it has to close for a month due to a lack of staff.

IMAGO/Zoonar

According to the innkeeper, some of his employees would rather receive citizen’s money than work in the catering industry.

IMAGO/onemorepicture

The closure is also bitter for shipping on the Königssee: tourists are usually taken directly to the Resti by boat.

IMAGO/imagebroker

  • A traditional restaurant in Königssee in Bavaria has to close because it can no longer find staff.

  • According to Wirt, some of his employees would rather receive citizen’s benefit instead of working.

  • He believes the search for personnel will continue to be difficult in the future.

Citizens’ money was introduced in Germany regarding a year ago – Hartz IV was therefore off the table. As of January 1, 2024, the standard rate has increased significantly once more; in addition to a housing subsidy, those affected will receive 563 euros per month as “pocket money”. What sounds rather poor from a Swiss perspective is apparently reason enough for some people in Germany not to return to their poorly paid job.

At least that’s what the tenant and landlord of the traditional restaurant St. Bartholomä on Königssee in Bavaria, Markus Amann, reports. He has been running the business for over ten years. He confirmed to the “Berchtesgadener Anzeiger” that his restaurant would have to close for a whole month. The reason: lack of staff. “In the summer, 16 people quit.” Germans haven’t worked for him for a long time; instead, they are people from Eastern Europe. Many Romanians used to come, but today there are Hungarians.

Better citizen money than creating

«We had a few Ukrainians. “But their compatriots recommended that they should instead receive citizen’s money in order to be able to enjoy life better,” says Amann. Now the Resti has to close – until February 8th. And this despite the fact that the website actually says: We are there for you 364 days a day! However, it is questionable whether the innkeeper will be able to close its staffing gap in the meantime. Gastronomy has simply become too unattractive for many people. Amann has been paying its employees more than the minimum wage requires for a long time. “Otherwise no one will answer.” A blessing in disguise, however, because significantly fewer tourists visit Königssee in winter than in summer. Nevertheless, the innkeeper is convinced that this is just the beginning: “It will get worse.”

The matter is particularly bitter for shipping on the Königssee. The Resti can only be reached by boat and is mainly visited by day trippers who have previously taken part in a tour of the picturesque mountain lake. 750,000 guests are transported to the peninsula on which the restaurant is located every year. The managing director of Bayerische Seenschiffahrt, Michael Grießer, told the “Berchtesgadener Anzeiger”: “Of course that is more than unfortunate.” Because the many tourists now have no opportunity to fill their hungry stomachs anywhere.

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#Königssee #Restaurant #close #due #lack #staff

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Sport

Gaëtan Charbonnier’s Departure from AS Saint-Étienne and Future with Sporting Club de Bastia

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

2024-01-11 14:00:14

Gaëtan Charbonnier (35 years old) undoubtedly played his twenty-seventh and last match (6 goals, 2 assists) with AS Saint-Étienne during the reception of Bastia (3-2, December 19), a club with which he should commit to on Friday. Although regularly used during the first part of the season – he participated in 20 matches out of a possible 21 (three goals and an assist) – the 35-year-old striker is not part of Olivier Dall’Oglio’s plans. , the successor to Laurent Batlles as coach.

Sissoko absent due to CAN

In order to facilitate his departure, the leaders of ASSE will release him from his last six months of contract. Once his termination has been made official, Charbonnier should immediately commit to Sporting Club de Bastia, currently 15th in Ligue 2. An eighteen-month contract awaits him on the Isle of Beauty.

The Greens, who finished the first phase in seventh place, three points from the play-offs for accession to Ligue 1, are therefore more than ever in search of a new attacker. Especially since Ibrahim Sissoko, its top scorer (8 goals and one assist in 19 L2 matches), left to compete in the African Cup of Nations with his Mali selection (January 13-February 11). But for the moment, no file is in the process of being closed.

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#Gaëtan #Charbonnier #leave #SaintÉtienne #Bastia

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