Business

‘Soft landing in the bag’: Wall Street rallies as Fed signals rate cuts on December 14, 2023 at 6:30 pm Business News | The Hill

Published

1 year ago

December 14, 2023

Financial markets rallied Thursday as Wall Street grows increasingly confident the economy has achieved a “soft landing” from high inflation without a recession.

The stock market stretched a record-breaking rally into a second day after the Federal Reserve signaled Wednesday that it could begin cutting interest rates next year.

“The Fed believes they have the soft landing in the bag. Clearly, markets believe them now,” Callie Cox, a U.S. investment analyst at eToro, said in a statement.

The Dow Jones Industrial Average was up 92 points — roughly 0.3 percent — just before 1:30 p.m. Thursday after hitting an all-time high Wednesday, surpassing 37,000 for the first time.

Dow hits all-time high, closing above 37,000 for first time

The rally began after the Fed announced it would hold rates steady for a third consecutive meeting and suggested it was likely nearing an end to its rate hikes.

The Dow surged 1.4 percent on the news, adding more than 500 points before markets closed Wednesday, while the S&P 500 jumped 1.37 percent and the Nasdaq Composite rose 1.38 percent. All three major indices remained up on Thursday morning.

The celebratory mood on Wall Street reflects a remarkable shift from last year, when most economists were offering dismal projections and largely dismissing the Biden administration’s hopes of a soft landing.

Annual inflation has eased significantly since last summer, when it reached a 40-year high of 9.1 percent. As of November, consumers prices were up 3.1 percent annually, still above the Fed’s 2-percent target but showing a marked improvement over last year.

While the central bank’s aggressive rate hike campaign appears to have helped cool inflation, it has not translated into higher unemployment rates, defying standard economic assumptions. The jobless rate has remained below 4 percent, with the November jobs report showing the rate edged down to 3.7 percent.

The economy has also continued to grow despite widespread predictions of a recession last year, with U.S. gross domestic product (GDP) exceeding 2 percent for the last five quarters.

In the face of the latest positive economic data, Fed Chair Jerome Powell said the central bank is “likely at or near the peak rate for this cycle,” and all but three Fed officials indicated in economic projections released Wednesday that they expect at least two rate cuts next year and a plurality expect three cuts.

“Fed members now see a few rate cuts in 2024, and these seem to be celebratory rate cuts too,” Cox said. “The latest economic projections tell you as much.”

“The Fed lowered their inflation estimates, yet they didn’t change their job market expectations,” she continued. “They expect inflation to come down without a serious spike in unemployment. That’s the definition of a soft landing.”

The Fed adjusted its inflation forecast downward in Wednesday’s economic projections, predicting that annual inflation would fall to 2.4 percent in 2024 and 2.1 percent in 2025, while leaving its unemployment projections largely unchanged.

Nancy Vanden Houten, lead U.S. economist at Oxford Economics, noted that the central bank’s recent communication about its likely course of action on rate hikes “has become decidedly less hawkish.”

“The Fed isn’t taking additional rate hikes completely off the table, but its latest set of economic projections and Fed Chair Powell’s post-meeting press conference suggest the next policy move will be a rate cut,” Vanden Houten said in a research note.

‘Too early for victory laps’: Fed inflation fight looms over Biden

While Oxford Economics initially anticipated that the first rate cut would occur in the third quarter of 2024, Vanden Houten said the Fed’s economic projections and Powell’s remarks on Wednesday “are sending a message that rate cuts are likely to come sooner than we currently assume.”

However, she added, “We still think the Fed will be patient before lowering rates and is unlikely to move before the middle of the year.”

Cox similarly warned that rates could remain high for a while longer, emphasizing that “nobody has a crystal ball.”

Powell also offered a word of caution on Wednesday, warning that it’s too soon to know if inflation is on track to return to pre-pandemic levels and refusing to rule out future rate hikes.

“We’ve reached a possible inflection point,” Elizabeth Renter, a data analyst at NerdWallet, said in a statement. “The ideal scenario: the economic stars (along with monetary policy) have aligned to produce the soft landing where inflation comes down to 2 percent without a precipitous ascent in unemployment.”

“But we can’t be certain of this yet,” Renter added. “Like so much in the economy, we won’t know how this ends until after it ends.”

Whether the Fed succeeds could have a signficant impact on the 2024 election and President Biden’s bid to secure another presidential term.

Despite the sharp drop in inflation and strong economic data, Americans have grown increasingly frustrated with the state of the economy after years of paying inflated prices.

Business, Economy Financial markets rallied Thursday as Wall Street grows increasingly confident the economy has achieved a “soft landing” from high inflation without a recession. The stock market stretched a record-breaking rally into a second day after the Federal Reserve signaled Wednesday that it could begin cutting interest rates next year. “The Fed believes they have the…

Business

The Last of Us” Season 2: Cast and Creators Share Insights at SXSW

Published

5 days ago

March 9, 2025

Bolanle Media Staff

The cast and creators of the highly anticipated second season of “The Last of Us” gathered at SXSW to discuss the upcoming season. The panel featured cast members Pedro Pascal (Joel), Bella Ramsey (Ellie), Gabriel Luna (Tommy), Kaitlyn Dever (Abby), Isabela Merced (Dina), and Young Mazino (Jesse), along with co-creators Neil Druckmann and Craig Mazin.

Navigating Expectations and Surprising Fans

With the immense success of season one, Druckmann and Mazin acknowledged the pressure to deliver a worthy follow-up. Mazin emphasized their approach to cater to both fans of the game and newcomers to the series. “We try and think about the people who have played the game and make sure that we keep them on their toes and a little bit surprised,” Mazin stated. Druckmann highlighted the emotional weight of adapting “The Last of Us Part II,” emphasizing the dedication of the entire production team to doing justice to the source material.

A Glimpse into Season 2

Attendees were treated to a trailer for season two, offering a glimpse into the evolving relationship between Joel and Ellie five years after the events of the first season. Ramsey described the changed dynamic, hinting at a rift between the characters. Pascal added that their relationship is in “a different place” and that it is “fucking heartbreaking”.

Big Ideas: Tribalism, Love, and Loss

The creators delved into the central themes of season two, including tribalism, the destructive nature of love, and the consequences of loss. Druckmann explained that the season explores the complexities of community and the dehumanization that can occur when groups clash. Mazin emphasized the escalation of these themes, highlighting the potential for isolation and the lengths characters will go to protect their loved ones.

New and Expanded Characters

The panel also touched on new characters and expanded roles in season two. Gabriel Luna discussed Tommy’s evolution into a father, emphasizing how it solidifies his purpose and strengthens his commitment to protecting his family and community. The introduction of new characters like Gail, played by Catherine O’Hara, and the expansion of existing characters like Isaac, played by Jeffrey Wright, promise to add depth and nuance to the narrative. Additionally, the inclusion of Joe Pantoliano as Eugene, a character mentioned but not seen in the game, offers a rewarding experience for longtime fans.

Music as a Binding Force

Music continues to play a significant role in “The Last of Us,” particularly in the relationship between Joel and Ellie. Ramsey shared that music serves as a bonding experience for the characters, mirroring the connection between the actors on set. The guitar, a symbol of Joel’s promise to teach Ellie, takes on a more prominent role in season two.

Diving into the Game

The actors discussed their individual approaches to engaging with the source material. Kaitlyn Dever shared her experience playing the game with her father, while Young Mazino admitted to playing the second game up to a certain point.

How to Find More Free Events

SXSW Official Schedule: Use the SXSW website to filter for free events.
Eventbrite: Browse listings for unofficial SXSW events, many of which are free or low-cost.

Whether you’re a badge holder or not, SXSW 2025 offers something for everyone. From delicious food to live music and interactive experiences, there’s no shortage of fun to be had without spending a fortune. So, grab your friends and enjoy the best of Austin without a badge!

Bolanle Media covers a wide range of topics, including film, technology, and culture. Our team creates easy-to-understand articles and news pieces that keep readers informed about the latest trends and events. If you’re looking for press coverage or want to share your story with a wider audience, we’d love to hear from you! Contact us today to discuss how we can help bring your news to life

Business

No Badge? No Problem: Free SXSW Events

Published

5 days ago

March 9, 2025

Bolanle Media Staff

SXSW, one of the world’s most vibrant festivals, is underway in Austin, Texas, from March 7 to 15, 2025. While official badges can be pricey, there are plenty of free events and activities that allow everyone to join in on the fun without breaking the bank. Here’s a guide to some of the best free events at SXSW 2025:

Free Food and Drinks

Argentinian Barbecue at Tech N’ Fest
- Enjoy a fusion of Argentinian and Texas barbecue, along with complimentary wine and beer, at Buenos Cafe on March 7.

Love is Blind at Lucille
- Celebrate the fifth anniversary of Netflix’s “Love is Blind” with free coffee and cocktails at Lucille on Rainey Street.
Free Pastries and Non-Alcoholic Beer
- Handsome’s and Helium Mobile are hosting a gathering with free pastries and non-alcoholic beer, featuring DJ Jah Karma.
Mionetto Salone
- Experience Italian culture with free spritzes and Prosecco at the Mex-Ar Museum.

Interactive Experiences

Whataburger’s Museum of Art
- Explore hundreds of pieces of fan art and interactive features at Wanderlust Wine Co. on March 8-9.
Barbie Birthday Cake Mochi
- Enjoy free mochi ice cream at the SX Registrant booth from March 7 to 12.
Artisan Mercado@SXSW
- Discover local artisans and their wares at 419 Congress Ave. on March 7..

Music and Entertainment

Rolling Stone’s Future of Music Showcase
- Catch live music performances at ACL Live from March 11 to 14.

Taiwan Beats Day Party
- Enjoy Taiwanese hip-hop performances and cuisine at Seven on East 7th Street.
Something To Feel X SXSW Rnb Party
- Dance the night away at 612 W 4th St on March 7.

Networking and Community Events

K-Content Night 2025 @ SXSW
- Enjoy free dinner and drinks at Parlor & Yard on March 8.
SXSW Creator & Publisher Happy Hour
- Network with industry leaders at Chisos Boot Company on March 8.

How to Find More Free Events

SXSW Official Schedule: Use the SXSW website to filter for free events.
Eventbrite: Browse listings for unofficial SXSW events, many of which are free or low-cost.

Business

HRM Queen Shanta Lana Hereford Delivers Powerful Speech on Global Peace

Published

3 weeks ago

February 20, 2025

Bolanle Media Staff

New Delhi, India – February 16, 2025 – Her Royal Majesty Queen Shanta Lana Hereford, a distinguished global leader and advocate for peace and economic empowerment, was a special
guest speaker at an international event hosted by the EurAsia Afro Chamber of Commerce. The
hybrid event, aired live from New Delhi, India, gathered influential leaders, policymakers, and business executives from around the world to discuss global cooperation, economic diplomacy, and sustainable peace.

Queen Shanta delivered a compelling speech titled “Creating a Framework for a Global Peace Charter,” emphasizing the need for a justice-centered, faith-driven approach to global peace. She outlined a transformative vision, calling for governments, businesses, and faith leaders to unite to draft policies integrating equity, economic accountability, and environmental stewardship into global governance.

“The pursuit of peace is not just the absence of war; it is the presence of justice, dignity, and
opportunity for all, ” Queen Shanta stated. “We must move beyond just talking and establish
actionable frameworks that empower nations and communities to achieve lasting prosperity and peace.”

The EurAsia Afro Chamber of Commerce, under the leadership of its founder and chairman, Dr. Rohit Gupta, is dedicated to fostering economic and cultural collaboration between Africa, Asia, and Europe. The organization aims to create a strong, interconnected business network
bridging these regions, facilitating pathways for economic prosperity and diplomatic relations.
As a prolific leader within the African American diaspora and a global advocate for its
advancement, HRM Queen Shanta Lana Hereford is actively exploring opportunities for trade
and commerce between Africa, Asia, Europe, and other international communities.

Through her affiliations with organizations such as The African Diaspora Collective, The Atlanta Black Chambers, The Black Achievement Fund, The National Business League, The 10K Project, and many others, she is championing economic initiatives that build sustainable supply chains and foster strategic partnerships.

Her mission is to create economic opportunities for Black entrepreneurs and business leaders in America, who have historically been excluded from global trade discussions. By forging these international connections, Queen Hereford is working to ensure that Black communities in the U.S. not only have a seat at the table but play a key role in shaping the future of international commerce, economic empowerment, and global policy.

The event featured several other distinguished guests, including:
● Dr. Rohit Gupta: Founder and Chairman of the EurAsia Afro Chamber of Commerce,
Dr. Gupta has been instrumental in promoting cross-continental business relationships
and trade.
● H.E. Bishop Dr. Samsher Khan: Founder of the BSK Prayer Tower and IRKT, Bishop
Dr. Khan serves as a Peace Ambassador for the International Human Rights
Commission (IHRC) and holds the position of Asia’s Social Media Editor. He is dedicated
to promoting peace and spiritual well-being across communities.
● Madam Sadhvi Pragya Bharti: Sadhvi Pragya Bharti is a spiritual leader, humanitarian,
and national media panelist known for her advocacy of social and educational reforms
rooted in spirituality and justice.

The event underscored the importance of strategic economic partnerships as a tool for
peacebuilding, aligning with Queen Hereford’s global mission of self-determination and
economic sovereignty for Black and Indigenous communities worldwide.

As part of her continued advocacy, Queen Hereford urged global stakeholders to collaborate on
drafting a Global Peace Charter, organizing annual Global Peace Assemblies, and
implementing economic policies that uplift marginalized communities.

This event marks a significant milestone in international diplomacy, reinforcing the role of
economic and cultural cooperation in shaping a peaceful and prosperous future for all.

For media inquiries, interviews, or further information, please contact:
H.E. Roselyn Omaka
National Press Secretary, Nation of Cherut
Email: nps@nationofcherut.org
Phone: 281.301.5535