WASHINGTON, Oct 8 (Reuters) - The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays rose for Social Security, Medicare and health insurance tax credits. The estimate, which precedes the U.S. Treasury Department's year-end budget report later this month,...

NEW YORK (Reuters) - Federal Reserve Bank of Boston President Susan Collins said on Tuesday that with inflation trends growing weaker it is very probable that the U.S. central bank can deliver more interest rate cuts. Further adjustments of policy will likely be needed, Collins said in the text of a speech to be delivered before a conference at her...

(Reuters) - Federal Reserve Vice Chair Philip Jefferson on Tuesday said the U.S. central bank's half-percentage-point interest-rate cut last month was aimed at keeping the labor market strong even as inflation continues to ease. The FOMC has gained greater confidence that inflation is moving sustainably toward our 2% goal, Jefferson said, referring to the rate-setting Federal Open Market Committee, of...

(Reuters) - The Federal Reserve's 50-basis-point interest-rate cut last month was timely and was neither reactive, nor proactive, Fed Vice Chair Philip Jefferson said on Tuesday. It was timely and consistent with the Fed's two mandates of attaining 2% inflation and maximum employment, Jefferson said at Davidson College in North Carolina. The Fed's success in meeting the first mandate by...