Page 31 - Us Economy
Yellen sees solid growth and possible 'soft landing' for US economy
A number of economists have predicted a recession in 2023 as the Fed ramps up interest rates
 "Yellen sees solid growth and possible 'soft landing' for US economy")
US economy shrinks by 1.4% in Q1 amid Omicron variant surge
The latest data marks the economy's first contraction since the Covid-19 pandemic impacted the country in early 2020, Xinhua news agency reported
 "US economy shrinks by 1.4% in Q1 amid Omicron variant surge")
US economy posts surprise contraction, belying solid consumer picture
While the surprise contraction adds to political headaches for President Joe Biden, it's unlikely to dissuade the Federal Reserve from hiking interest rates aggressively to combat inflation
 "US economy posts surprise contraction, belying solid consumer picture")
Omicron, trade weigh on US economy in first qtr; GDP declines at 1.4% rate
The first decrease in gross domestic product in nearly two years was mostly driven by a wider trade deficit as imports surged, and a slowdown in the pace of inventory accumulation
 "Omicron, trade weigh on US economy in first qtr; GDP declines at 1.4% rate")
Wall Street higher on earnings hopes, oil prices drop on growth fears
Brent crude was last down 4.87% at $107.65 a barrel, while U.S. crude was last down 4.91% at $102.9 per barrel
 "Wall Street higher on earnings hopes, oil prices drop on growth fears")
Statsguru: From India to US, six charts show rising global inflation
In the US, consumer price inflation has been higher than in India for the last seven months
 "Statsguru: From India to US, six charts show rising global inflation")
Indian economy looks better than others, but don't raise a cheer just yet
The comparative numbers spell bad news for the world rather than any good news for India, whose growth forecasts are getting tempered even as the inflation picture is getting worse, writes T N Ninan
US mortgage interest rates top 5%, buyers look to lock in rates
Investors see the Fed bringing its federal funds rate to 2.5%-2.75% by the end of 2022, up from the current target range of between 0.25% and 0.5%
 "US mortgage interest rates top 5%, buyers look to lock in rates")
Russia-Ukraine war impact: US inflation rises to new 40-year high
Gasoline costs drove half of the monthly increase, which were up on account of the Russia-Ukraine war, while food was also a sizable contributor to the jump
 "Russia-Ukraine war impact: US inflation rises to new 40-year high")
Benchmark Treasury yield hits 3-year high; dollar posts weekly gain
The dollar index advanced to 100 for the first time in nearly two years. It rose as high as 100.19, its highest since May 2020.
 "Benchmark Treasury yield hits 3-year high; dollar posts weekly gain")
Asian shares slip on hawkish Fed, US dollar nears two-year peak
Minutes of the Fed's March 15-16 meeting released Wednesday, showed deepening concern among policymakers that inflation had broadened through the economy.
 "Asian shares slip on hawkish Fed, US dollar nears two-year peak")
Biden's pause on federal student loan extension fuels inflation concerns
US President Joe Biden's newly announced plan to extend a pause on federal student loan repayments has drawn backlash from budget watchers and economists
 "Biden's pause on federal student loan extension fuels inflation concerns")
 "Dollar rises towards 2-year high after Fed policy maker's comments")
Gold prices fall 1% after strong US jobs data, firmer dollar
Spot gold XAU= fell 0.7% to $1,924.16 per ounce by 10:44 a.m. ET (1444) GMT. U.S. gold futures GCv1 dropped 1.3% to $1,928.00
 "Gold prices fall 1% after strong US jobs data, firmer dollar")
US economy not letting war, pandemic get in the way of a good time
There are signs also that larger changes, expected by economists as part of a 'normalizing' economy, are beginning to take shape
 "US economy not letting war, pandemic get in the way of a good time")
India in a divided world: Keeping old friendships and cultivating new ones
The question for India, as a middle or swing power with long-term external dependencies for energy and military hardware, is how to not let old friendships come in the way of new ones, notes T N Ninan
US added 431,000 jobs in March in sign of economic health
As the pandemic has eased, consumers have been broadening their spending beyond goods to services
 "US added 431,000 jobs in March in sign of economic health")
US employment gains expected in March; jobless rate seen falling to 3.7%
The Fed last month raised its policy interest rate by 25 basis points, the first hike in more than three years.
Profits at large global banks set to fall sharply due to M&A slowdown
(Reuters) - Profits at the world's biggest banks are expected to fall for the first time in seven quarters, dragged down mainly by a slowdown in mergers and acquisitions (M&A) activity and a decline in equity and debt issuance deals.
 "Profits at large global banks set to fall sharply due to M&A slowdown")
US President Biden planning to tap oil reserve to control gas prices
President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation's strategic petroleum reserve, in a bid to control energy prices that have spiked