Page 47 - Us Economy
Dow jumps 600 pts on vaccine cheer, stimulus optimism; cyclical stocks rise
US bond market rout eases; shares of cruise liner and hotel operators, and carriers including Carnival Corp, Hilton, Delta Air Lines Inc and American Airlines gained between 1.8% and 4.6%
 "Dow jumps 600 pts on vaccine cheer, stimulus optimism; cyclical stocks rise")
Biden urges Senate to quickly pass $1.9 trillion economic relief package
"If we act now - decisively, quickly, and boldly - we can finally get ahead of this virus. We can finally get our economy moving again," he said
 "Biden urges Senate to quickly pass $1.9 trillion economic relief package")
Buffett upbeat on US, Berkshire; buys back stock even as Covid hits results
Buffett also signaled a long-term commitment to Apple Inc
 "Buffett upbeat on US, Berkshire; buys back stock even as Covid hits results")
US House passes $1.9 trillion pandemic relief bill, sends it to Senate
The House approved a $1.9 trillion relief bill in a win for President Biden, even as top Democrats tried assuring agitated progressives that they'd revive their derailed drive to boost minimum wage
US owes India $216 bn as American debt soars to $29 trillion: Lawmaker
In 2020, the US national debt was $23.4 trillion, that was $72,309 in debt per person
 "US owes India $216 bn as American debt soars to $29 trillion: Lawmaker")
Yellen supports new allocation of IMF's SDR currency to help poor nations
Yellen said an SDR allocation and steps to boost low- and zero-interest lending by the World Bank and International Monetary Fund were needed to help contain the pandemic and mitigate its devastating
 "Yellen supports new allocation of IMF's SDR currency to help poor nations")
US unemployment claims fall to 730,000 but layoffs remain high
The latest figures come as the job market has made scant progress in the past three months
 "US unemployment claims fall to 730,000 but layoffs remain high")
US government revises fourth quarter GDP up slightly to 4.1%
The economy grew at a slightly faster pace in the final three months of 2020 than first thought
 "US government revises fourth quarter GDP up slightly to 4.1%")
Fed to keep monetary policy easy, stay patient as US economy revives
"We are just being honest about the challenge," Powell told lawmakers when asked about Fed projections that inflation will remain at or below the central bank's 2% target through 2023
 "Fed to keep monetary policy easy, stay patient as US economy revives")
Data-focused Powell paves way for era of extended loose Fed policy
WASHINGTON (Reuters) - Between deep wounds to the labor market and weak inflation, Federal Reserve Chair Jerome Powell delivered a simple message to investors fixated on rising U.S. bond yields and price risks: watch the data, and don't expect any changes in monetary policy until the economy is clearly improving.
 "Data-focused Powell paves way for era of extended loose Fed policy")
Powell says economy still needs Fed help, pushes back on inflation worries
WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell, pushing back on suggestions that loose monetary policy risked unleashing inflation and financial risks in what may be an emerging economic boom, said the central bank would keep its attention focused on getting Americans back to work as a vaccine-related recovery proceeds.
Jerome Powell signals Fed to keep buying bonds even as outlook improves
The economy is a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved, he said
 "Jerome Powell signals Fed to keep buying bonds even as outlook improves")
Powell says Fed will not commit to any decision on dividend restrictions
"We have not decided what to do there yet and we're actually looking into that right now," Powell said during a hearing before the Senate Banking Committee
 "Powell says Fed will not commit to any decision on dividend restrictions")
Wall Street opens lower ahead of Fed Chairman Jerome Powell's speech
Wall Street's main indexes opened lower on Tuesday as investors sold off high-flying growth stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress
Janet Yellen favors higher company tax, signals capital gains worth a look
The Fed already conducts tests to address vulnerability to economic or market downturns, and uses the results as a basis for financial institutions' capital requirements
Wall Street falls at open on inflation concerns and rising yields
The Dow Jones Industrial Average fell 113.2 points, or 0.36%, at the open to 31381.12
 "Wall Street falls at open on inflation concerns and rising yields")
Power back, but Texans stormed with thousand-dollar electricity bills
Consumers are facing sky-high payments in the aftermath of the storm, with many taking to social media to show electricity bills ranging as high as $8,000
 "Power back, but Texans stormed with thousand-dollar electricity bills")
Bulls take a break: Sensex, Nifty fall for fourth day amid yield surge
Sensex down 2.4% in four sessions
 "Bulls take a break: Sensex, Nifty fall for fourth day amid yield surge")
The reflation euphoria has a dark side for emerging markets
"If a particular allocation across the risky markets spectrum should be low confidence this year, it is the EM overweight," JPMorgan's John Normand wrote in a note to clients on Wednesday
 "The reflation euphoria has a dark side for emerging markets")
Power outages and water shortages as Texas shivers, says report
Misery deepens as a new storm threatens the US east coast