Page 28 - Us Economy
Janet Yellen touts 'friend-shoring' as fix for global supply chain
Yellen touted her "friend-shoring" concept as a way to reduce the vulnerabilities of a supply system badly strained over the past two years
 "Janet Yellen touts 'friend-shoring' as fix for global supply chain")
US is exporting inflation, and Federal Reserve hikes will make it worse
With rates in the US rising much faster than in the eurozone and Japan, the dollar is soaring
 "US is exporting inflation, and Federal Reserve hikes will make it worse")
Gasoline, food drive US inflation to four-decade high of 9.1% in June
This should keep the Federal Reserve on track for another big interest-rate hike later this month
 "Gasoline, food drive US inflation to four-decade high of 9.1% in June")
US, allies aim to cap Russian oil prices to hinder Ukraine invasion
With thousands of sanctions already imposed on Russia to flatten its economy, the US and its allies are working on new measures to starve the Russian war machine
 "US, allies aim to cap Russian oil prices to hinder Ukraine invasion")
Global regulators back 'same risk, same regulation' for stablecoins
TerraUSD stablecoin collapsed earlier this year, while crypto lender Voyager Digital filed for bankruptcy this month
 "Global regulators back 'same risk, same regulation' for stablecoins")
Gold struggles for traction as interest rate hike bets, dollar dim appeal
Spot gold was little changed at $1,734.59 per ounce by 0916 GMT after hitting $1,722.36 earlier in the session, its lowest since Sept. 30. US gold futures rose 0.1% to $1,733.60.
 "Gold struggles for traction as interest rate hike bets, dollar dim appeal")
Solid US economy can handle rising interest rates, says Fed's Bullard
The US economy is healthy and shows little sign of an imminent recession, and can withstand higher interest rates, St Louis Federal Reserve president James Bullard said Monday.
 "Solid US economy can handle rising interest rates, says Fed's Bullard")
US stocks see worst first half drop in over 50 yrs amid inflation woes
US stocks have seen their worst first half of a year since 1970, as concerns grow over how steps to curb inflation will affect economic growth.
 "US stocks see worst first half drop in over 50 yrs amid inflation woes")
Dollar heads for weekly gain as investors weigh rates, recession risks
The dollar index inched up 0.07% in Asian trading, after a 0.32% drop overnight when it was undermined by weaker-than-expected consumer spending data
 "Dollar heads for weekly gain as investors weigh rates, recession risks")
Gold bound for worst quarter in over a year on hawkish Fed policy
Gold slipped on Thursday, heading for its worst quarter in five as a hawkish tone from global central banks dimmed appeal for the non-yielding asset
 "Gold bound for worst quarter in over a year on hawkish Fed policy")
US economy shrank 1.6% in first quarter: Commerce Department report
The GDP data for the first quarter marks the US economy's first contraction since the onset of the Covid-19 pandemic
 "US economy shrank 1.6% in first quarter: Commerce Department report")
US economy contracts 1.6% in first quarter amid record trade deficit
The US economy grew at a robust 6.9% pace in the fourth quarter
Sharp rate hike bets keep Wall Street subdued, Goldman Sachs lifts Dow
US economy contracted in Q1 amid record trade deficit; BofA upgrades Goldman Sachs, shares rise; General Mills rises as sales beat on higher prices; Bed Bath & Beyond replaces CEO, shares tumble
 "Sharp rate hike bets keep Wall Street subdued, Goldman Sachs lifts Dow")
Dollar falters as Treasury yields retreat amid recession risks, rate hike
Treasury 10-year yields slid more than 1 basis point in Tokyo, trading to around 3.17% as Asian equities followed Wall Street lower
 "Dollar falters as Treasury yields retreat amid recession risks, rate hike")
Benchmark indices extend winning streak as commodity prices moderate
Buying in IT stocks - spurred by a global trend - accounted for the bulk of the gains in the benchmark indices
 "Benchmark indices extend winning streak as commodity prices moderate")
US economy will narrowly avoid recession in 2022 and 2023, says IMF
"We are conscious that there is a narrowing path to avoiding a recession in the US," Georgieva said. "We also have to recognize the uncertainty of the current situation"
 "US economy will narrowly avoid recession in 2022 and 2023, says IMF")
Federal Reserve says US banks can weather severe downturn comfortably
Fed said the 34 lenders it oversees would suffer combined losses of $612 bn under a severe downturn
 "Federal Reserve says US banks can weather severe downturn comfortably")
Wall Street's hiring frenzy eases as worries grow over economy, market fall
Soaring inflation exacerbated by Russia's invasion of Ukraine and resulting interest rate hikes are making some Wall Street companies nervous about the risk of a recession
 "Wall Street's hiring frenzy eases as worries grow over economy, market fall")
Qatar Economic Forum: Musk, Roubini, Goldman warn of US recession risk
SpaceX boss says 'a few unresolved matters' remain on Twitter deal
 "Qatar Economic Forum: Musk, Roubini, Goldman warn of US recession risk")
Risk of US recession now higher and more front-loaded, warns Goldman
The Goldman economists now see a 30% probability of entering a recession over the next year, compared to 15% previously, and a 25% conditional probability of entering a recession in the second year
 "Risk of US recession now higher and more front-loaded, warns Goldman")