Page 4 - Us Economic Growth

Inflation 'settling' high could pose new risks for US Fed, economy

Inflation has been largely stalled for the first three months of the year at a rate, roughly 2.7%, that policymakers regard as still too far above their target to declare the job finished

Govt bond yields flattish; focus remains on debt sale, US jobs data

The benchmark 10-year yield was at 7.1620% as of 10:00 a.m. IST, following its previous close of 7.1598%

Hoping for soft landing for US economy, stagflation possible: Jamie Dimon

JPMorgan Chase CEO Jamie Dimon says he's hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn't rule out more troubling possibilities, such as stagflation. In an interview with The Associated Press at a Chase branch opening in The Bronx, Dimon said he remained cautious about the US economy and said inflation may be stickier for longer and that stagflation is on the list of possible things that could happen to the US economy. You should be worried about (the possibility of stagflation), Dimon said. Dimon did emphasise that he's still hopeful for the US economy to experience a soft landing, where growth slows but the economy avoids a recession even if inflation remains a little high, but he's not certain that is the most likely outcome. I'm just a little more dubious than others that a (soft landing) is a given, he said. The Fed rapidly raised interest rates in 2022 and 2023 after inflation reached the highest level in four decades. Fed officia

US economic growth in Jan-Mar slows to a 2-year low; inflation surges

The economy grew at a 3.4% rate in the fourth quarter. The first quarter growth's pace was below what U.S. central bank officials regard as the non-inflationary growth rate of 1.8%

US industrial production rises for second month on boost from manufacturing

Manufacturing, which accounts for three-fourths of total industrial production, is showing signs of turning a corner after more than a year of sluggish activity, helped by resilient consumer demand

Inflation could hamper 'soft landing' of global economy despite US growth

Recent data have not been helpful, with inflation stalled well above the US central bank's 2% target for the first quarter of the year

US small-biz sentiment slides to lowest level in more than 11 yrs in March

Twenty-five percent of owners reported inflation was their single most important problem in operating their business, reflecting higher input and labor costs, up 2 points from February

Immigrants contribute to economy but there's worry over risks: US citizens

Americans are more worried about legal immigrants committing crimes in the U.S. than they were a few years ago, a change driven largely by increased concern among Republicans, while Democrats continue to see a broad range of benefits from immigration, a new poll shows. The poll from The Associated Press-NORC Center for Public Affairs Research found that substantial shares of U.S. adults believe that immigrants contribute to the country's economic growth, and offer important contributions to American culture. But when it comes to legal immigrants, U.S. adults see fewer major benefits than they did in the past, and more major risks. About 4 in 10 Americans say that when immigrants come to the U.S. legally, it's a major benefit for American companies to get the expertise of skilled workers in fields like science and technology. A similar share (38%) also say that legal immigrants contribute a major benefit by enriching American culture and values. Both those figures were down compared

US House approves over $450 bn spending package to avert shutdown

The 1,050-page package calls for more than $450 billion in funding for the departments of Veterans Affairs, agriculture, interior, transportation, housing and urban development, etc

Besides avoiding recession, US also creating hundreds of thousands of jobs

The nation's employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy's continuing ability to shrug off the highest interest rates in two decades. Friday's government report showed that last month's job gain roughly twice what economists had predicted topped the December gain of 333,000, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7 per cent, just above a half-century low. Wages rose unexpectedly fast in January, too. Average hourly pay climbed a sharp 0.6 per cent from December, the fastest monthly gain in nearly two years, and 4.5 per cent from January 2023. The strong hiring and wage growth could complicate or delay the Federal Reserve's intention to start cutting interest rates later this year. The latest gains showcased employers' willingness to keep hiring to meet steady consumer spending. It comes as the intensifying presidential campaign is pivoting in no small par

US growth likely slowed last quarter but still exhibited resilience

The nation's economy was supposed to have sunk into recession by now, dragged down by the highest interest rates in two decades and a resulting slump in borrowing and spending. Instead, the US economy has kept chugging along. Even more encouraging, inflation, which touched a four-decade high in 2022, has edged steadily lower without the painful layoffs that most economists had thought would be necessary to slow the acceleration of prices. On Thursday, the Commerce Department is expected to report that the nation's gross domestic product the economy's total output of goods and services rose at an annual rate of around 2 per cent from October through December. That would mark a deceleration from a vigorous 4.9 per cent growth rate in the July-September quarter. But it would still showcase the surprising durability of the world's largest economy, marking the sixth straight quarter in which GDP has expanded at a solid annual pace of 2 per cent or more. Helping fuel that growth has bee

Economists increasingly sure US will avoid recession, shows survey

Also, inflation has been falling faster than expected, and the labor market is cooling but not collapsing

Hedge funds bring in record profits betting on 'catastrophe' bonds

Behind those record returns were bold bets on catastrophe bonds and other insurance-linked securities

US Q4 GDP shows annualised 2% rise, expected to crown vigorous second half

While the Fed wants to guard against a re-acceleration of inflation, a further softening of price pressures risks making policy even more restrictive

US eyes more Indian tourists in coming yrs, number expected to rise to 2mn

The NTTO expects visitors from India to go up to 2 million by 2027

US energy tax credit trading grows to as much as $9 bn, show study

This market has scaled faster than anyone anticipated, said Crux CEO and co-founder Alfred Johnson, a former Treasury Department staffer

Wealth of 5 richest men doubled since 2020; 5 bn people now poorer: Oxfam

Fortunes of five richest men have more than doubled since 2020 and the world could have its first-ever trillionaire in just a decade while it would take more than two centuries to end poverty, rights group Oxfam said on Monday. Releasing its annual inequality report on the first day of the World Economic Forum (WEF) Annual Meeting here, Oxfam said seven of 10 of the world's biggest corporations have a billionaire as a CEO, or principal shareholder. It further said that 148 top corporations made USD 1.8 trillion in profits, 52 per cent up on three-year average, and dished out huge payouts to rich shareholders, while hundreds of millions faced cuts in real-term pay. Oxfam called for a new era of public action, including public services, corporate regulation, breaking up monopolies and enacting permanent wealth and excess profit taxes. The world's five richest men have more than doubled their fortunes from USD 405 billion to USD 869 billion since 2020 "at a rate of USD 14 million per

China's exports rise, but deflation persists as economy enters 2024

Analysts also anticipate that interest rates will drop at least 1.5 percentage points in the United States and Europe this year, which should improve demand for imported goods

Gold to maintain upward trajectory in 2024, ended CY23 with 15% return

Yellow metal to maintain its impressive run in 2024 on the back of triggers such as the moderation in US economic growth, expectation of rate cuts this year and continued buying from central banks

'World is watching,' says US President Biden as Israel, Ukraine aids stall

Biden said he was willing to consider immigration policy changes to secure a deal, winning praise from a key Republican lawmaker