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Federal Reserve Board Governor Kugler: Our current monetary policy stance is moderately tight.On May 9, European Commission President Ursula von der Leyen said that once a specific trade plan is on the table, she could envision visiting Washington to meet with Trump to discuss trade negotiations. "If I go to the White House, I hope there is a package that we can discuss," von der Leyen said. "It has to be specific, and I hope there is a solution that we can both agree on. Thats what were working on now." Last month, von der Leyen met briefly with Trump at Pope Francis funeral, but a formal meeting has not yet taken place. On Thursday, the European Commission announced that if trade negotiations with the United States fail to produce satisfactory results, the EU will impose additional tariffs on 95 billion euros of US exports. Von der Leyen said on Friday that the EU prefers to resolve the issue through negotiations to avoid tariff escalation, but is developing countermeasures that can be implemented if a "satisfactory result" cannot be reached.On May 9, ECB board member Simkus said that since the eurozone economy has not yet felt the full impact of US tariffs, inflation is expected to continue to slow, but the ECB must further lower interest rates. He said that although economic activity performed well at the beginning, recent geopolitical trends, including US President Trumps trade threats, are bad news. At the same time, he saw "clear anti-inflationary forces" at work. He said, "For me, the June decision was very clear that another rate cut was needed." He said, "It is possible to cut interest rates again after June," although the timing is unclear. The ECB has cut interest rates seven times since June last year, and officials have said they are ready to take more measures as US tariffs threaten economic growth.Federal Reserve Board Governor Kugler: It is not appropriate to use a single indicator to guide the maximum employment target.Federal Reserve Board Governor Barr: Forward-looking measures are worrying.

As Vacation Demand Rises, Airbnb Is Bullish About Earnings

Aria Thomas

Feb 15, 2023 11:17

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Airbnb Inc on Tuesday anticipated current-quarter revenue above market expectations due to solid travel demand and said it will keep a tight control on expenses to safeguard profits, causing its shares to rise 10% in extended sessions.


The rental company intends to retain last year's margin of 35%, the best since it went public in 2020, despite worries of a recession that have prompted consumer spending concerns.


It was claimed that domestic and short-distance travel remained robust, increasing occupancy rates at major metropolitan sites, and that long-distance and cross-border travel improved during the quarter in question, aided by a stronger dollar and the reopening of borders.


This year, European tourists are planning their summer travels earlier than usual, according to Airbnb.


According to Refinitiv data, the business projected first-quarter sales between $1.75 billion and $1.82 billion, above analysts' average estimate of $1.69 billion.


In addition, it predicted that its average rental prices would decline slightly in the current quarter and continue under pressure through 2023, as tourists return to more affordable urban rentals.


The holiday quarter ending in December saw a 24% increase in revenue to $1.90 billion, which was lower than the previous two quarters but exceeded analysts' average expectation of $1.86 billion.


In the meanwhile, average daily rates decreased by 1% to $153 and bookings increased by 20% to $13.5 billion, falling short of the average analyst forecast of $1.69 billion.


According to Refinitiv statistics, Airbnb recorded a quarterly net profit of $319 million, or 48 cents per share, above projections of 25 cents per share.

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