Inflation’s pace in the U.S. moderated to 2.4 percent last month, led by a decline in gasoline prices amid a global oil glut and a slowdown in the rate of rent increases.
Tag: U.S. Federal Reserve
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THE AMERICAN ECONOMY CONTINUES TO SHARPEN ITS DIVIDE
The so-called “K-shaped” U.S. economy continues to widen the gap between elite, affluent spenders and the more than half of American households that struggle to pay their bills, various news outlets are reporting.
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MARKET OVERVIEW – ECONOMIC UPDATE
U.S. equity markets posted their worst week since last November, despite an encouraging inflation report and an economy that grew more jobs than many had expected.
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FED NOMINEE SEES AI AS PRODUCTIVITY BOON FOR U.S. ECONOMY
Kevin Warsh, Donald Trump’s choice as the next chair of the U.S. Federal Reserve, shares Trump’s conviction that the central bank’s interest rates must be much lower – and he thinks artificial intelligence (AI) is the way to make that work.
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U.S. MANUFACTURING IS IN A “JOBS RECESSION”
Joe Biden tried to boost the number of U.S. manufacturing jobs by subsidizing the chips industry’s expansion and funding infrastructure repair.
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GOLD’S PRICE WILL REMAIN ALOFT THIS YEAR, ANALYSTS SAY
Gold’s price will average $4,746.50 over this year, according to a January Reuters survey of 30 analysts.
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DECLINING DOLLAR ROILS WORLD MARKETS
The dollar’s slide to its lowest in more than three years has revived “fears about the U.S.’s pre-eminent position in global markets, spurred conflicting statements from the White House, and shifted the math behind everything from international travel to U.S. corporate profits to European furniture exports,” The Wall Street Journal reported.
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TRUMP NAMES WARSH AS NEXT FED CHAIRMAN
Donald Trump has named Kevin Warsh, a governor of the U.S. Federal Reserve during the George W. Bush administration, to succeed Jerome Powell as chair of the central bank. Powell’s term expires in May.
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FED FREEZES INTEREST RATES
As widely expected, the U.S. Federal Reserve’s rate-setting Open Market Committee made no changes to its policy interest rates at its 28 January meeting, leaving the rate on deposits at 3.5 percent and the lending rate at 3.75 percent.
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U.S. PRODUCER PRICES JUMP AS COMPANIES PASS TARIFF COSTS TO CUSTOMERS
In December, the price producers put on their products rose 0.5 percent, more than double November’s 0.2-percent increase and the largest monthly jump since July.