Page 26 - Us Economy

The power of populism

The book's title refers to a 'middle out' philosophy in which the govt creates a more democratic economy by focusing on ways to enlarge the middle and working classes at the expense of the wealthy

'Scariest economics paper of 2022' forecasts huge lay-offs over next 2 yrs

The 'scariest economics paper of 2022' has warned that a high unemployment rate will be necessary to combat inflation and to bring it down to 2%

Sensex ends choppy day 105 points higher; IT stocks lead; Financials weigh

CLOSING BELL: Among individual stocks, Tech M, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki, SBI, and TCS were the top large-cap winners

Global cues, low crude oil prices lift indices; Sensex gains 659 points

The Nifty, on the other hand, ended the session at 17,798, with a gain of 174 points, or 0.9 per cent

Wall Street rebounds as yields slip, focus on Fed path; Nasdaq up 1%

Data signaling strength in the US economy has prompted traders to bet on a 75-basis-point interest rate hike by the Fed later this month

US moving towards normalcy, not recession

The inflation vs recession debate in the US is missing the larger point

Crypto traders in bullish mode despite hawkish Fed comments on inflation

Bitcoin, which accounts for about 40% of the estimated market value of all cryptocurrencies, traded last week within a range of about 5.4%, the narrowest since October 2020

US hiring slowed in August as employers add 315,000 jobs amid weak economy

America's employers slowed their hiring in August in the face of rising interest rates, high inflation and sluggish consumer spending, all of which have weakened the outlook for the economy. The government reported on Friday that the economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months. The unemployment rate rose to 3.7 per cent, from a half-century low of 3.5 per cent in July, as more Americans came off the sidelines to look for jobs and didn't find work immediately. The smaller August gain will likely be welcomed by the Federal Reserve. The Fed is rapidly raising interest rates to try to cool hiring and wage growth, which have been consistently strong. Businesses typically pass the cost of higher wages on to their customers through higher prices, thereby fuelling inflation. Fed officials hope that by raising borrowing costs across the economy, they can reduce inflation from a near-40-year high. Some economists

Four of six major economies miss growth estimates including India: NSO

The results were even lower than the 14.5 per cent estimate given by the RBI's Survey of Professional Forecasters on Macroeconomic Indicators in August.

Indian students this year get twice as many US visas as China: Report

A total of 77,799 Indian students received F-1 visas from January to July this year, while in China, 46,145 got the visa

'Inflation fever' finally breaking but central banks won't stop rate hikes

As economic growth slows, prices for key raw materials - from oil to copper and wheat - have cooled in recent weeks, taking pressure off the cost of manufactured goods and food

Global central bankers follow US Fed Chair to give hawkish message

The heads of the Bank of England, Swiss National Bank, Bank of Japan, Bank of Korea and several European Central Bank policy makers spoke on Saturday at the Kansas City Fed's annual retreat

Senator Warren worries that Fed will tip US economy into recession

The US central bank's chief warned on Friday that Americans were headed for a painful period of slow economic growth and possibly rising joblessness as the Fed raises interest rates to fight inflation

Oil prices dip after US Fed chair Powell warns of economic pain ahead

Brent crude futures fell 1 cent to $99.33 a barrel by 1:13 p.m. EDT (1713 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 33 cents to $92.19 a barrel.

Stocks slide, dollar cuts losses as Fed's Powell warns of economic pain

"Reducing inflation is likely to require a sustained period of below-trend growth. Moreover, there will very likely be some softening of labor market conditions," Powell said.

Brent crude anchored above $100 a barrel, heading for weekly gain

Brent crude futures climbed $1.53, or 1.54%, to $100.87 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.20 cents, or 1.3%, to $93.72.

US economy contracts in second quarter; underlying data show no recession

Second-quarter GDP contraction revised to 0.6% from 0.9%; gross domestic income rises at 1.4% rate in Q2; average of GDP and GDI climbs at 0.4% pace; weekly jobless claims drop 2,000 to 243,000

Biden student loan forgiveness impacts millions, raises inflation questions

Canceling the debt will free up hundreds of billions of dollars for new consumer spending that could be aimed at homebuying, according to economists

Dollar, treasury yields slip as US data suggests less hawkish Fed

Gold snapped a six-session losing streak while Wall Street was little changed on hopes the Fed will turn dovish

Markets can hit highs only after inflation peaks abroad: Taher Badshah

'The key risk for the market at this juncture, especially after this strong comeback, is the resurgence of the known risks of recent times, namely the rebound of inflation and geopolitical tensions'