Page 37 - Us Economy
Dollar hits 16-month high, stocks rebound as US inflation hits 31-year peak
The dollar rose on Thursday, hitting a 16-month high a day after the strongest US inflation reading in more than three decades
 "Dollar hits 16-month high, stocks rebound as US inflation hits 31-year peak")
US inflation builds with biggest gain in consumer prices since 1990
The consumer price index increased 6.2% from October 2020
 "US inflation builds with biggest gain in consumer prices since 1990")
Gold eases as dollar strengthens; focus shifts to US CPI data
Gold prices eased on Wednesday as the dollar firmed, with investors looking forward to key U.S. inflation data that could have a bearing on the Federal Reserve's next policy move.
 "Gold eases as dollar strengthens; focus shifts to US CPI data")
Joe Biden's bet that economy would boost Democrats falls flat
Americans have turned pessimistic about the economy as inflation has persisted
 "Joe Biden's bet that economy would boost Democrats falls flat")
Dollar hits more-than 1-year high after US jobs data; sterling tumbles
Nonfarm payrolls increased by 531,000 jobs last month as the surge in COVID-19 infections over the summer subsided
 "Dollar hits more-than 1-year high after US jobs data; sterling tumbles")
Dollar holds gains ahead of US jobs data; sterling tumbles
Investors will be closely watching fresh U.S. labour market data due later on Friday, which could sway the timing of Federal Reserve interest rate increases.
 "Dollar holds gains ahead of US jobs data; sterling tumbles")
Fed rolls out bond-buying 'taper,' holds to 'transitory' inflation belief
Even in announcing a $15 bn monthly cut to its $120 bn in monthly purchases of Treasuries and mortgage-backed securities, the Fed did not signal when it may begin next phase of policy 'normalisation'
 "Fed rolls out bond-buying 'taper,' holds to 'transitory' inflation belief")
US federal reserve's main inflation gauge hits 30-year high in September
The Commerce Department said consumer spending, which accounted for 70% of all US economic activity, grew by a dormant 0.6% as well in September
 "US federal reserve's main inflation gauge hits 30-year high in September")
US economy grows at an annual rate of 2.0% in Q3 amidst delta surge
"Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased."
 "US economy grows at an annual rate of 2.0% in Q3 amidst delta surge")
US growth rate slows to 2% on Delta surge, supply chain worries
Shortages, transportation bottlenecks, rising prices and the delta variant of the coronavirus weighed on both goods and services spending
Global stocks fall, gold gains as US economic growth slows sharply
The MSCI All World Stock Index was down 0.06% at 741.31 points, barely below its lifetime high of 749.16 points hit last month
 "Global stocks fall, gold gains as US economic growth slows sharply")
US economy slows sharply in Q3; weekly jobless claims at new 19-month low
Strong inflation, fueled by the economy-wide shortages and pandemic relief money from the government over the course of the public health crisis, cut into growth
 "US economy slows sharply in Q3; weekly jobless claims at new 19-month low")
US new home sales hit six-month high; median price stays above $400,000
New home sales jumped 14.0% to a seasonally adjusted annual rate of 800,000 units last month, the highest level since March
 "US new home sales hit six-month high; median price stays above $400,000")
The revenge of supply
One underlying problem today is the intersection of labour shortages and Americans who are not even looking for jobs
US budget deficit hits $2.77 trillion in 2021, the second highest
The deficits in both years reflect trillions of dollars in government spending to counteract the devastating effects of a global pandemic
US consumer prices outpace forecast as inflation dogs economy
A combination of unprecedented shipping challenges, materials shortages, high commodities prices and rising wages have sharply driven up costs for producers
House sends short-term debt limit hike to Joe Biden, staving off default
Members of the House pushed through a short-term increase to the nation's debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting default
Goldman Sachs Group cuts US growth forecasts for 2021 and 2022
Goldman's team, led by Jan Hatzius, said in a report on Sunday that they now expect growth of 5.6% on an annual basis in 2021 versus their previous estimate of 5.7%, and 4% next year, down from 4.4%
 "Goldman Sachs Group cuts US growth forecasts for 2021 and 2022")
Dollar steady after jobs miss as taper hopes remain intact
September's employment report is the last one available before the Federal Reserve's Nov. 2-3 policy meeting.
US futures tumble as soaring energy prices fuel inflation worries
Growth stocks lead declines; American Airlines, Nucor fall on Goldman Sachs' downgrades
 "US futures tumble as soaring energy prices fuel inflation worries")