Page 36 - Us Economy

US consumer prices in Nov rise at fastest annual pace in almost 40 yrs

US consumer prices in November rose at the fastest annual pace in almost 40 years, increasing pressure on the Federal Reserve to tighten monetary policy, the Labour Department reported.

17 mn US workers lost job, saw wage cut by Covid-induced economic setback

Nearly 17 million US workers lost their jobs or saw their wages decline since the onset of the Covid-19 pandemic in early 2020, a report said.

US govt budget deficit $356.4 bn, down 17% from same period last year

The US budget deficit totaled $356.4 billion in the first two months of the budget year, down 17 per cent from the same period a year ago

US consumer prices climb in Nov at fastest annual rate since 1982

The consumer price index increased 6.8% from November 2020, according to Labor Department data released Friday

US unemployment claims drop to 52-year low amid seasonal volatility

The number of Americans applying for unemployment benefits plunged last week to the lowest level in 52 years, more evidence that the US job market is recovering from last year's coronavirus recession.

US House passes bill to fast-track passage of debt limit increase

The Senate is expected to take up the measure, which prevents the use of stalling tactics, on Thursday

America doesn't need Biden's $1 trillion infrastructure bill: Elon Musk

Taking on US President Joe Biden, Tesla CEO Elon Musk has said that America does not need his administration's ambitious $1 trillion infrastructure bill, or any of the government subsidies.

US inflation to remain above Fed's target amid rising wages: Survey

The US' annual inflation will remain above the Federal Reserve's target of 2 per cent over the next three years, according to a survey

US firms battle higher inflation and worker shortages, shows Fed survey

Fed policymakers will weigh a faster timeline at their next meeting on Dec. 14-15

Fed's Jerome Powell weighs earlier end to bond tapering amid hot inflation

Powell said it's time to stop using the word "transitory" to describe inflation

Consumer spending rebounds in US by 1.3% in October despite inflation

US consumer spending rebounded by a solid 1.3 per cent in October despite inflation

Dollar reigns as hawkish US Fed stands out among central banks

TOKYO (Reuters) - The U.S. dollar traded at its highest in over a year to the euro and near a five-year high against the yen as a hawkish tilt by Federal Reserve policymakers, buoyed by strong U.S. data, contrasted to more dovish monetary outlooks in Europe and Japan.

US weekly jobless claims drop to 52-year low; Q3 growth revised slightly up

Claims have been declining since October, though the pace has slowed in recent weeks as applications approach the pre-pandemic average of about 220,000

Joe Biden aims to do what presidents often can't: Beat inflation

Over the years, American presidents have tried, and mostly floundered, in their efforts to quell the economic and political menace of consumer inflation

In hours-long rant, GOP's 'angry' McCarthy stalls Biden's $1.75-trn bill

Sneering with disdain one minute, spilling sarcasm the next, McCarthy carried on for hours as Thursday night became Friday morning

House delays vote on Biden's $1.75 trillion bill to after hours-long speech

Democrats in the House were attempting to advance Biden's $1.75 trillion domestic investment bill, despite the CBO's finding that it would add to the deficit.

US states to get money soon from infrastructure bill to address risky dams

States will soon be flooded with federal money to address a pent-up need to repair, improve or remove thousands of aging dams across the US

Biden to push infrastructure deal at 'red list' bridge in New Hampshire

The last time Joe Biden was in New Hampshire, he was a no-show at his own, sad party. Trounced in the state's 2020 Democratic presidential primary, Biden hopped a flight to next-up South Carolina before the polls had even closed on his fifth-place finish. On Tuesday, he returns to New Hampshire as president, eager to talk up his new USD1 trillion infrastructure deal and what all that money can do for Americans. Biden is down in the polls and hopes to use the successful deal to shift the political winds in his direction with new momentum for his broader USD1.85 trillion social spending package before Congress. The president signed the infrastructure bill into law on Monday at a splashy bipartisan ceremony for hundreds on the White House South Lawn, where lawmakers and union workers cheered and clapped. America is moving again and your life is going to change for the better, Biden promised Americans. The president and members of his Cabinet are moving, too spreading out around the

Biden signs $1T infrastructure bill, hopes law will boost his popularity

US President Joe Biden signed his $1 trillion infrastructure deal into law on the White House lawn, hailing it as an example of what bipartisanship can achieve.

Dollar climbs 16-month high, US stocks slip amid inflation worries

The US dollar climbed to a 16-month high Monday while US stocks slipped in midday trading after a strong opening