Your Saturday Briefing: From the Fed to FedEx
Something for the weekend
A barista prepares coffee at the Starbucks Reserve Roastery in Chicago.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Well, hello there.
The S&P 500 Index posted its worst week since June, ahead of the Fed’s policy meeting next week and as FedEx’s earnings miss fueled concerns over the extent of a global economic slowdown. While FedEx’s results reflect in part the delivery giant’s own internal struggles, there’s no doubt economic growth is sputtering. Goldman Sachs cut its US GDP forecast for next year to 1.1% from 1.5% previously, saying a “below-potential growth trajectory” is necessary to cool inflation.