Page 40 - Us Economy

Top headlines: Fed on US economy, IAF deploys Rafales to counter China

Business Standard brings to you the top headlines on Thursday

US economic recovery on track despite Covid-19 surge: Federal Reserve

The Fed also said that higher inflation remained the result of "transitory factors," meaning it was not an imminent risk

Fed says progress made toward conditions for tapering bond buys

Any move to shrink policy support will be based on progress on the Fed's goals for jobs and inflation

United States goods trade deficit widens; inventories increase

The report was published ahead of Thursday's advance second-quarter gross domestic product data.

Joe Biden wants spending to boost economy, but GOP to block vote

President Joe Biden said his infrastructure and families agenda must be passed to sustain economic momentum of his first six months in office

Global indices edge lower as focus shifts towards US consumer data

The MSCI's broadest gauge of global shares was down 0.1 per cent in European trading, broadly unchanged on the week, as European markets gave up some of their earlier gains

Wall Street dips as declines in cyclical stocks outweigh growth boost

The Commerce Department said retail sales rebounded 0.6% last month, as spending is shifting back to services, bolstering expectations that economic growth accelerated in the second quarter

Asian shares find support as US Fed chairman Powell shrugs off inflation

Asian shares held firm on Thursday after Federal Reserve Chair Jerome Powell said the US economy was 'still a ways off' from levels the central bank wanted to see before tapering its monetary support

Top US banks smash second quarter profit estimates on rebounding economy

WASHINGTON (Reuters) - The four largest U.S. consumer banks posted blockbuster second-quarter results this week, after pandemic loan losses failed to materialize and the U.S. economy began roaring back to life.

Citigroup Q2 profit beats market estimates on release of reserves

An economic recovery fueled by vaccine rollouts across the country and a $1.9 trillion stimulus package pushed through by the Biden administration earlier this year is expected to drive banking profit

China denounces Janet Yellen's call for US-European 'unified front'

China on Tuesday denounced an appeal by Treasury Secretary Janet Yellen for a US-European unified front against Chinese unfair economic practices and human rights abuses. China strongly deplores and rejects Treasury Secretary Yellen's remarks, said a foreign ministry spokesman, Zhao Lijian. Yellen issued the appeal Tuesday during a meeting with European Union officials in Brussels. President Joe Biden is trying to revive traditional alliances following the America First policies of his predecessor, Donald Trump. Together, we need to counter threats to the principles of openness, fair competition, transparency and accountability, Yellen said, according to a text released by her department. These challenges include China's unfair economic practices, malign behavior and human rights abuses, Yellen said. The more we confront these threats with a unified front, the more successful we will be. Zhao rejected the criticism, saying Beijing always firmly supported the multilateral trading .

US market exceptionalism

A bet on US outperformance is a bet on tech, which is near the end of its own hype cycle

Pandemic continues to weigh on economy, labour market: US Federal Reserve

The US Federal Reserve said that the Covid-19 pandemic continues to weigh on the American economy and the labour market, reiterating the central bank will maintain its ultra-loose monetary policy

The Trumpian roots of the chip crisis

The US is still paying the price of tantrum-based trade policy

US Treasury rally powers on, world stock markets take a knock

The fresh burst in pessimism continued a pattern set earlier in the week

Asian stocks fall after Fed discusses cut in United States stimulus

Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated. Sydney gained.

US adds 850,000 jobs in June, the most in 10 months as hiring gains pace

The labor force participation rate held steady and remained well short of pre-pandemic levels

US economy grows 6.4% in Q1 and it's likely just the start, say experts

The US economy grew at a solid 6.4 per cent rate in the first three months of the year, setting the stage for what economists believe may be the strongest year for the economy in about seven decades.

Dollar in retreat as Powell says Fed won't raise rates on fear of inflation

The US dollar remained on the back foot against major peers on Wednesday after a two-day drop as US Fed officials including Chair Powell reaffirmed that tighter monetary policy was still some way off

Fed will not raise rates on inflation fears alone, Jerome Powell says

Federal Reserve Chair Jerome Powell reaffirmed the US central bank's intent to encourage a "broad and inclusive" recovery of the job market, and not to raise interest rates too quickly