Page 23 - Us Economy
US extends interview waiver for certain non-immigrant visa categories
It said the Department of State recognises the positive impact of travel to the United States by foreign students and temporary work visa holders on the US economy
 "US extends interview waiver for certain non-immigrant visa categories")
US steelmakers flag recession concerns, energy costs could impact demand
Benchmark steel prices are down more than 50% this year as surging inflation has crimped appetite for longer-term projects
 "US steelmakers flag recession concerns, energy costs could impact demand")
No shine in Surat diamond industry this Christmas, thanks to bad US economy
Festive orders, sales in December down by 15-20% over last year
 "No shine in Surat diamond industry this Christmas, thanks to bad US economy")
US core inflation slows, giving Fed Reserve some breathing room on rates
The overall CPI increased 0.1 per cent from the prior month and was up 7.1 per cent from a year earlier, as lower energy prices helped offset rising food costs
 "US core inflation slows, giving Fed Reserve some breathing room on rates")
Too good to be bad, too risky to be good: Economy has Fed in a fix
Financial markets and professional forecasters seem braced for the latter
 "Too good to be bad, too risky to be good: Economy has Fed in a fix")
Rupee sheds 26 paise to dollar as firm US data leads to Fed hike jitters
The domestic unit settled at 82.54 to the dollar on Monday, from 82.28 at previous close. So far in 2022, the Indian currency has shed 9.9% against the greenback
 "Rupee sheds 26 paise to dollar as firm US data leads to Fed hike jitters")
Fed's message on rate hold for 'some time' clashes with 2023 rate-cut bets
They're also likely to signal another 50 basis points of tightening next year, according to economists, and an expectation that once they reach that peak, they'll stay on hold through all of 2023
 "Fed's message on rate hold for 'some time' clashes with 2023 rate-cut bets")
Five questions for 2023
These questions will shape the world economy in the new year, and matter to India
 "Five questions for 2023")
Strong jobs growth in the US has Federal Reserve in a fix: Report
Hiring remains strong despite technology companies, including Twitter, Amazon, and Meta announcing thousands of jobs cuts
 "Strong jobs growth in the US has Federal Reserve in a fix: Report")
RBI monetary policy: Pace of tightening set to slow
Our financial system needs more time for the broad-based transmission of the past concentrated increases in the repo rate (190 basis points in just four months)
The US and UK should be welcoming foreign talent, not driving it away
The US and UK are threatening their long-term prospects with foolish policy
 "The US and UK should be welcoming foreign talent, not driving it away")
Rate hike slowdown possible in Dec, inflation fight not over: Fed's Powell
The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," Fed Chair Jerome Powell said
 "Rate hike slowdown possible in Dec, inflation fight not over: Fed's Powell")
Joe Biden says 'it is going to take time' for inflation to recede
US President Joe Biden cautioned on Friday that "it is going to take time" for inflation to recede, but he offered fresh assurance that legislation he signed earlier this year will soon help limit costs for health care and energy. He made the remarks while meeting with business and labour leaders in his first public event since returning from an around-the-world trip to Egypt, Cambodia and Indonesia. Biden has been encouraged by the Democrats' stronger-than-expected performance in the midterm elections, but he could be entering a perilous stretch when it comes to the economy. The White House has emphasised a strong jobs market to try to allay concerns about a potential recession. However, the Federal Reserve continues to try to slow economic growth by raising interest rates to battle inflation. It is a delicate situation that Biden will be navigating amid turnover in his economic team. Cecilia Rouse, a labour economist who became the first Black woman to lead the Council of Economi
 "Joe Biden says 'it is going to take time' for inflation to recede")
Why optimism on India's present does not extend much beyond visible horizon
Structural unemployment problem, social unrest, poor state of education and health care, and nutrition deficits among children - tomorrow's workforce - temper optimism on India, writes T Ninan
US Federal Reserve open to 50-bp hike at December policy meeting
"It is way too early to conclude that inflation is headed sustainably down," Christopher Waller, US Federal Reserve Governor
 "US Federal Reserve open to 50-bp hike at December policy meeting")
Dollar bounces as US economy sends mixed signals; sterling slips
The euro was down 0.33% against the dollar at $1.036 at 1045 GMT, after hitting its highest level since July at $1.048 on Tuesday
 "Dollar bounces as US economy sends mixed signals; sterling slips")
Handling external shocks
Following the US Fed's monetary policy lead is not in the interest of emerging economies
 "Handling external shocks")
US not near recession, needs more time to cool prices: US president Biden
'We're not anywhere near a recession right now, in terms of the growth,' said Biden at the White House on Wednesday
 "US not near recession, needs more time to cool prices: US president Biden")
Peak in bond yields that appeared close has now vanished from sight
For the moment, investors remain convinced that the Fed is on a course that ultimately will bring the economy to its knees
 "Peak in bond yields that appeared close has now vanished from sight")
Sensex atop Mt 61,000, just 1% away from fresh the all-time highs
Benchmark indices gained in 11 of the past 12 trading sessions
 "Sensex atop Mt 61,000, just 1% away from fresh the all-time highs")