Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- United Airlines (UAL), Delta Air Lines (DAL) and American Airlines (AAL) are asking Congress to immediately pass a clean continuing resolution bill to reopen the U.S. government so that air traffic controllers can get paid.
“Missed paychecks only increases the stress on these essential workers, many of whom are already working mandatory overtime to keep our skies safe and secure,” Delta said in a statement, according to CNBC.
“A prolonged shutdown will lead to more delays and cancellations — and the American people, especially during the busy holiday season, deserve better,” American Airlines said in a statement.
Vice President J.D. Vance and Transportation Secretary Sean Duffy met with the heads of the nation’s leading airlines on Thursday to discuss the impact of the shutdown on air travel.
- Federal Reserve Bank of Dallas President Lorie Logan said Friday she didn’t see a good reason for the Fed to cut interest rates earlier this week.
“I would have preferred to hold interest rates steady at this week’s FOMC meeting,” said Logan in a speech on Friday.
“The labor market remains balanced and cooling slowly. Inflation remains too high, taxing the budgets of businesses and families, and appears likely to exceed the FOMC’s 2 percent target for too much longer. This economic outlook didn’t call for cutting rates,” she added.
- Federal Reserve Bank of Kansas City President Jeff Schmid also said he voted against the rate cut this week due to concerns about inflation.
“At this week’s FOMC meeting I dissented against lowering the target range for the federal funds rate by 25 basis points. My preference would have been to leave the target range unchanged,” Schmid said in a speech on Friday.
“By my assessment, the labor market is largely in balance, the economy shows continued momentum, and inflation remains too high. I view the stance of policy as only modestly restrictive. In this context, I judged it appropriate to maintain the policy rate at this week’s meeting,” he added.