The First Cut Is the Deepest: Fed Kicks Off Easing Cycle With 50 bps Rate Cut

Published on September 23, 2024

We expect the Fed to cut rates by 25 basis points at each of its remaining meetings in 2024 and to sustain that pace into 2025. This trajectory would get the Fed down to our estimate of the normal or equilibrium rate of interest of 3%-3.25% this time next year.

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The What-Why-When-How Guide to Owning Emerging Debt

September 23, 2024
As GMO celebrates its 30th anniversary managing emerging debt this year, we offer our comprehensive guide to emerging debt markets. Given the tumultuous recent events – a global pandemic, defaults, repricing of interest rates, relentless strength in the U.S. dollar – we’ll focus on the Why as a starting point. Then we’ll dive into the proliferating How, covering strategies and vehicles.

US Department of Labor awards more than $7.4 million to continue disaster recovery after California’s severe winter storms in 2023

September 23, 2024
WASHINGTON – The U.S. Department of Labor today announced the award of more than $7.4 million to support continued disaster-relief employment and workforce training for California residents affected by severe winter storms that occurred in late 2022 and early 2023. On April 13, 2023, the department announced a National Dislocated Worker Grant of up to $22 million – with an initial award of $7.4 mi