Page 11 - Us Economy

With Fed rate cut set, Powell to focus on explaining US economic conditions

Powell instead could provide some background for the public and markets to understand how the Fed will respond as the economy evolves

US oil, gas M&A activity rose 57% in 2023 as industry consolidated: Report

The jump in spending on dealmaking and expanding reserves marks a shift in strategy following a years-long focus on shareholder returns over growth, which many firms had employed

Trump attacks Harris on inflation, economics in remarks at his golf club

Former President Donald Trump has said that Americans are struggling with massive price hikes that he blamed on Vice President Kamala Harris, looking to saddle his new Democratic rival with the unpopular economic record of President Joe Biden. Trump on Thursday stuck close to his scripted economic message, reading from a binder in front of him in a news conference at his New Jersey golf club. A day earlier, he struggled to make a sustained case for his economic policies during a meandering speech that his campaign had billed as a major policy address. Kamala Harris is a radical California liberal who broke the economy, broke the border and broke the world, frankly, Trump told reporters. Trump was flanked by popular grocery store items, including instant coffee, sugary breakfast cereals and pastries, laid out on tables as he highlighted the cost of everything from food to car insurance to housing. The event came one day after the Labor Department announced year-over-year inflation h

US business inventories marginally up by 0.3% in Jun after 0.5% rise in May

Inventories increased 2.1 per cent year-on-year in June

US producer inflation slows in July amid signs of pricing power diminishing

The report from the Labor Department on Tuesday also showed favorable readings for most of the components that go into the calculation of the personal consumption expenditures

US recession fears hyped, but any slowdown may impact India's economy

The US economy expanded 2.8 per cent in the second quarter and 1.4 per cent in the first quarter of 2024

US service sector rebounds in July, employment market also recovers

ISM's measure of services employment increased to 51.1 - growing for the first time since January - from 46.1 in June, second-largest in more than three years

Weak US employment report sends global markets careening off track

Indian markets also fell more than 1 per cent on Friday, with the benchmark National Stock Exchange Nifty ending at 24,718

Oil prices settle at 8-month low after disappointing US job numbers

US job growth slowed more than expected in July and unemployment increased to 4.3 per cent, pointing to raising fears of a possible recession

US unemployment rate hits 4.3% in July as job growth slows considerably

The employment report also showed increase in annual wages last month was smallest in more than three years, effectively sealing the case for the U.S. central bank to cut interest rates in September

US FOMC holds rates steady at 5.25% to 5.5%, signals 1st cut nearer

Officials also tempered their assessment of the labor market, noting job gains had moderated and the unemployment rate has moved up, but is still low

US inflation rises moderately, consumer spending cools before Fed's meet

The personal consumption expenditures (PCE) price index nudged up 0.1% last month after being unchanged in May, the Commerce Department's Bureau of Economic Analysis reported

US weekly jobless claims fall more than expected: Labor department

'The number of people receiving benefits after an initial week of aid, a proxy for hiring, slipped 9,000 to a seasonally adjusted 1.851 million during the week ending July 13'

US economy rebounds with 2.8% GDP growth in Q2; price pressures easing

Core PCE price index rises at 2.9% rate

US weekly jobless claims jump amid seasonal volatility, loose labour market

A loosening labour market and ebbing inflation position the Federal Reserve to cut interest rates in September, with financial markets anticipating additional cuts in November and December

Trump's economic plans include proposed tariffs, tax cuts, no taxes on tips

The first night of the Republican National Convention kept its official focus on the economy Monday even after Saturday's shooting at a rally in Pennsylvania in which former President Donald Trump was injured. Speakers argued that Trump would fix inflation and bring back prosperity simply by returning to the White House as president. Virginia Governor Glenn Youngkin lamented, Tonight, America, the land of opportunity, just doesn't feel like that anymore. But Trump has released few hard numbers and no real policy language or legislative blueprints, and most of the speakers Monday didn't get into details either. Instead, his campaign is betting that voters care more about attitude than policy specifics. Trump says he wants tariffs on trade partners and no taxes on tips. He would like to knock the corporate tax rate down a tick. The Republican platform also promises to defeat inflation and quickly bring down all prices, in addition to pumping out more oil, natural gas and coal. The ..

More good data will strengthen case for interest rate cut: Fed's Powell

A jobs report on Friday showed a still-solid 206,000 jobs added in June, but with a slowing monthly trend and a rising unemployment rate now at 4.1%

There's no debating who would be better for US economy

Assessing a President's management of the economy is always a tricky business, because many developments will have been set in motion by one's predecessors

US job openings up in May; layoffs picked up amid slowing economic activity

Data for April was revised lower to show 7.919 million unfilled positions instead of the previously reported 8.059 million

US yields decline as inflation data boosts confidence in interest rate cuts

Inflation had rebounded in the first quarter but it has been retrenching over the past few months, along with a slowdown in economic activity