In the week ending 13 September, 33,000 fewer people filed new claims for unemployment insurance than during the week before. The number fell from 264,000 to 231,000. In a Wall Street Journal poll, economists had forecasted 240,000 claims.
Tag: U.S. Federal Reserve
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SPOTLIGHT: BIGS GETTING BIGGER
As we detail in this and previous Trends Journals, investment into the private equity business and Merger and Acquisition activity have been in decline.
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ASIAN STOCK MARKETS SET RECORDS LAST WEEK
Equity indexes in Japan, South Korea, and Taiwan closed last week at record highs as investors bet the region’s chipmakers will gain greater benefits from the ongoing rally in artificial intelligence stocks.
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U.S. BANK REGULATORS SLACKEN OVERSIGHT MEASURES
Federal bank regulators are skipping some aspects of bank examinations as the Trump administration takes a less stringent approach to financial oversight, Reuters reported after speaking with several bank executives.
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DALIO WARNS OF DANGERS IN FED RATE CUT
Ray Dalio, billionaire founder of the Bridgewater Associates hedge fund, warned that the dollar and stock market are likely to weaken if the U.S. Federal Reserve cuts its key interest rate when the central bank’s Open Market Committee meets in the middle of this month.
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CLAIMS FOR JOBLESS BENEFITS MOUNT
More U.S. workers than expected filed initial claims for unemployment benefits last week, adding more evidence that the U.S. economy is slowing.
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U.S. CONSUMERS KEPT SPENDING IN JULY DESPITE PERSISTENT INFLATION
In July, U.S. consumer spending kept pace with core inflation, with both rising at 0.3 percent from June. It was the largest monthly gain in spending since April, according to data from the Bureau of Economic Analysis (BEA).
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ECONOMISTS WARN OF IMPACT OF TRUMP’S ATTACKS ON THE FEDERAL RESERVE
Economists surveyed by the Financial Times said the financial markets have not “fully priced in” the issues that could arise from U.S. President Donald Trump’s threats against the central bank, which may result in the bank becoming a “puppet of the government.”
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U.S. JOB MARKET GLOOM
The U.S. economy added a feeble 22,000 nonfarm jobs in August, the Bureau of Labor Statistics (BLS) reported, less than a third of the 75,000 expected by economists in a Dow Jones survey.
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POWELL SIGNALS AN INTEREST RATE CUT IN SEPTEMBER
Speaking on 22 August at the global central bankers’ retreat in Wyoming, Jerome Powell, chair of the U.S. Federal Reserve, indicated the Fed will probably cut its key interest rate next month.