Page 57 - Us Economy
US industrial production growth slows, shows modest growth of 0.4% in Aug
US industrial production slowed to a modest increase of 0.4% in August, far weaker than the strong bounce back recorded in previous months when factories were coming back to life
 "US industrial production growth slows, shows modest growth of 0.4% in Aug")
Bringing US economy to its knees, to being a friend: Opec turns 60
Founded in Baghdad on September 14, 1960 to counter the power of seven US and British oil companies, Opec has repeatedly yielded to pressure from Washington
 "Bringing US economy to its knees, to being a friend: Opec turns 60")
US Presidential election: Will Trump benefit from recovering US economy?
Job openings, a measure of labor demand, in July soared to 6.6 million, nearly back to their pre-crisis level, a Labor Department report showed this week
 "US Presidential election: Will Trump benefit from recovering US economy?")
US budget deficit hits record $3 trillion through 11 months amid pandemic
The US budget deficit hit an all-time high of USD 3 trillion for the first 11 months of this budget year, the Treasury Department said Friday.
Pratik Oswal on why overseas investing is imperative for Indian investors
Have a minimum of 15 to 20% (one or two) global funds in your portfolio for diversification, says Oswal
 "Pratik Oswal on why overseas investing is imperative for Indian investors")
Gross domestic misery rising in US: Recovery is bypassing those who need it
Jobs and GDP, by contrast, sort of are the economy. But they aren't the economy's point
 "Gross domestic misery rising in US: Recovery is bypassing those who need it")
Covid-19: US unemployment rate drops by more than expected, to 8.4%
Nonfarm payrolls increased by 1.37 million, including the hiring of 238,000 temporary Census workers, according to a Labor Department report Friday
 "Covid-19: US unemployment rate drops by more than expected, to 8.4%")
US budget deficit debt to hit $3.3 trillion, bigger than its economy's size
The spike in the deficit means that federal debt will exceed annual gross domestic product next year
 "US budget deficit debt to hit $3.3 trillion, bigger than its economy's size")
World Coronavirus Dispatch: Students across globe returning to classrooms
Boris Johnson earmarks £500 mn for mass rapid testing, Sanofi starts trials of vaccine, Steroids could reduce deaths by a third, and other pandemic-related news across the globe
 "World Coronavirus Dispatch: Students across globe returning to classrooms")
US recovery, slow and uneven, is hampered by 'uncertainty': Fed survey
The Fed, in its "Beige Book" report, highlighted the uneven rebound underway in the US economy
US: Budget deficit to hit record $3.3 trillion due to Covid-19, recession
The USD 3.3 trillion figure is more than triple the 2019 shortfall and more than double the levels experienced after the market meltdown and Great Recession of 2008-09.
New monetary policy framework critical, robust evolution: US Fed vice chair
The Fed's new framework noted that policy decisions going forward will be based on the FOMC's estimates of "shortfalls of employment from its maximum level,"
Global Economy: Asian factories shaking off Covid-19 gloom, China shines
Manufacturing activity in China expanded at the fastest clip in nearly a decade in August, as factories ramped up output to meet rebounding demand
Wall Street mixed as S&P 500 on track for best August in 36 years
New entrants to the blue-chip index, Salesforce.com Inc , Honeywell International Inc and Amgen Inc , slipped between 0.3% and 1.2%
 "Wall Street mixed as S&P 500 on track for best August in 36 years")
US economy sees revival, consumer spending rises a moderate 1.9% in July
US consumers increased their spending by 1.9% last month, a dose of support for an economy struggling to emerge from a pandemic that has held back recovery and kept roughly 27 million people jobless
 "US economy sees revival, consumer spending rises a moderate 1.9% in July")
Markets higher as Fed chair says interest rates to stay low
Asian markets were mostly higher on Friday after the Federal Reserve said it might keep interest rates low even if inflation rises, in a major overhaul to its strategy. Shares rose in Japan, South Korea, Shanghai and Hong Kong but fell in Sydney. Overnight, the S&P 500 ticked 0.2% higher, further into record territory and closing at 3,484.55, after Federal Reserve chair Jerome Powell said in a speech that it might keep interest rates low to help prop up the pandemic ravaged economy even if inflation rises above its target level of 2%. The hoped for change in the Fed's strategy is a huge deal for markets that have been rescued by central banks slashing short-term interest rates and buying all kinds of bonds. Japan's consumer price index rose 0.3% in July, the government reported, down from 0.6% the month before. The Bank of Japan has kept interest rates near or even below zero for most of the past decade, seeking to spur inflation and entice companies and consumers to spend more. .
Ultra-rich US investors hoard cash as economy fears over Covid-19 grow
The economic hit from the pandemic has failed to put a halt to rising stock prices
 "Ultra-rich US investors hoard cash as economy fears over Covid-19 grow")
Jerome Powell targets 2% average inflation, focus shifts to jobs
Fed's new approach would allow for prices to overshoot target
 "Jerome Powell targets 2% average inflation, focus shifts to jobs")
The weak dollar: Why it won't be replaced as global reserve currency
For international investors in general, currency risk - above all the weakening of the US dollar - has become the most important financial risk of the year
 "The weak dollar: Why it won't be replaced as global reserve currency")
Oil prices up on storm-hit US output and Covid-19 treatment hopes
Brent crude was up 53 cents, or 1.2%, at $44.88 a barrel by 11:22 a.m. EDT (1522 GMT). U.S. West Texas Intermediate crude rose 28 cents, or 0.7%, to $42.62
 "Oil prices up on storm-hit US output and Covid-19 treatment hopes")