Page 24 - Us Economy

US President Biden zeroes in on economic message as campaign winds down

President Joe Biden is zeroing in on a largely economic-focused message amid raging inflation and recession risks as he takes his closing argument for the November midterm elections to a hotly contested congressional battleground on Thursday and tries to reassure restive voters around the country. Biden's travels to Syracuse, New York, on Thursday and to Philadelphia on Friday are part of a strategic two-step crafted for a persistently unpopular president: Promote his administration's accomplishments at official White House events while saving the overt campaigning for states where his political power can directly bolster Democratic candidates. The White House of late has paid outsize attention to Pennsylvania, where Democrats are aggressively contesting a Republican-held Senate seat to help offset potential losses in other marquee Senate races. Publicly, the White House and senior Democratic leaders express optimism that they'll defy traditional midterm headwinds and retain control

US economy likely returned to growth, after shrinking in 2 quarters

The problems have hardly gone away. Inflation, still near a 40-year high, is punishing households. Rising interest rates have derailed the housing market and threaten to inflict broader damage. And the outlook for the world economy grows bleaker the longer that Russia's war against Ukraine drags on. But for now anyway, the USD economy has likely returned to growth after having shrunk in each of the first two quarters of 2022. At least that's what economists expect to see on Thursday when the Commerce Department issues its first of three estimates of gross domestic product the broadest measure of economic output for the July-September period. Economists surveyed by the data firm FactSet have predicted, on average, that GDP grew at a 2 per cent annual rate in the third quarter. That would reverse annual declines of 1.6 per cent from January through March and 0.6 per cent from April through June. Consecutive quarters of declining economic output are one informal definition of a ..

Would a championship win for Phillies be a good thing for US economy?

Would a championship win for the Philadelphia Phillies be a good thing for the nation's economy?

Caught in global maelstrom, rupee, govt bonds likely to weaken further

The key factors that have wreaked havoc on fixed-income and currency markets are the Russian invasion of Ukraine and the US Fed's decision to embark upon the most aggressive monetary tightening cycle

Joe Biden brushes off risks of strong dollar on global economy

The dollar has climbed roughly 15% this year as the Federal Reserve embarked on an aggressive campaign to raise interest rates to tamp US price increases.

Plastic pollution in US could trigger $20 bn in payouts over next 8 yrs

Litigation could cost the plastics industry and its insurers $20 billion in the US over the next eight years, according to a report backed by the United Nations and an Australian billionaire

'Soft landing' is unlikely for US economy, says JP Morgan's Jamie Dimon

Jamie Dimon said the Federal Reserve probably can't cool the red-hot economy without bringing on a recession.

Core US inflation rises to 40-year high in Sept, securing big Fed hike

In the 12 months through September, the CPI increased 8.2% after rising 8.3% in August.

At 82.34, rupee ends marginally weaker ahead of US inflation test

The rupee ended at 82.3450, compared with its previous close of 82.3150, after trading in a narrow range through the session

Gold treads water as traders await direction from US inflation data

The US Consumer Price Index (CPI) data due at 1230 GMT is forecast to come in at a hot 8.1% year-on-year in September

Joe Biden's 'slight' recession would mean economic pain for millions

Economic contractions -- even modest ones -- traditionally lead to markedly higher unemployment as companies slash their payrolls by millions of workers in response to lower demand

Americans to pay the most in 25 years to stay warm during this winter

Prices for natural gas and distillate -- which includes heating oil -- are both seen rising nearly 30% this winter

Yellen says US economy 'resilient' amid global headwinds; pledges vigilance

US Treasury Secretary Janet Yellen sought on Wednesday to project confidence in the US financial outlook while pledging vigilance in responding to risks on the horizon. She is offering that message as global finance leaders gather in Washington to discuss the increasingly dismal view of the global economy. Our economy remains resilient in the face of global economic headwinds, Yellen said at a meeting on the sidelines of this week's annual meetings of the International Monetary Fund and its sister lending agency, the World Bank. Her remarks to the Bretton Woods Committee's International Council crediting President Joe Biden's domestic policies for contributing to US economic strength came as administration officials try to talk up the president's policies ahead of midterm elections. Those elections will decide the balance of power in Congress and statehouses across the nation. Democrats with no margin for error are fighting to retain control of the House and Senate. Russia's ...

Gold prices inch lower as Fed Reserve minutes, US inflation data loom

Gold prices inched lower as traders looked forward to US Federal Reserve minutes and key inflation data for clues on the pace of future interest rate hikes.

JPMorgan CEO Jamie Dimon expects US recession in six to nine months

While the US economy is doing well at the moment, a number of indicators and global issues are ringing alarm bells: Dimon

Desperate for workers, firms plan to hire people even with criminal records

Railroads have been struggling with service issues they say have been caused by worker shortages, and in september struck a labour deal to avoid a nationwide strike

Federal Reserve officials won't relent on path to 4.5% and may move higher

On course for 75-bp increase next month; rate headed to 4.5-4.75% by next yr

OPEC+ production cut poses new threat to Joe Biden as election nears

More than a month after tweeting he had vanquished "Putin's price hike at the pump," Biden faces forces that even the US government can't match.

How should India respond to future shocks in an off-balance changed world?

The global engines of growth have become the sources of instability and uncertainty. T N Ninan explores what India should do

US economy, geopolitics: Factors that could roil markets next quarter

With the rupee weakening against the US dollar, a more hawkish pivot by RBI is expected