U.S. economy is strong, but some areas are slowing down, Yellen says
Synopsis by Reuters Jun 07 23
The U.S. economy is strong amid robust consumer spending but some areas are slowing down, U.S. Treasury Secretary Janet Yellen said on Wednesday ...Read full article 
Reuters: Yellen says U.S. inflation easing as some sectors slow, labor market strong
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| Last Updated | Jun 07 23 |
| Total Articles | 3 |
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U.S. economy is strong, but some areas are slowing down, Yellen says : The U.S. Treasury Secretary said on Wednesday that she expects continued progress in ...
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U.S. economy is strong, but some areas are slowing down, Yellen says : The U.S. Treasury Secretary said on Wednesday that she expects continued progress in ...
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BOJ's new policy approach takes shine off its inflation forecasts: The Bank of Japan is shifting to a more discretionary approach in setting policy ...
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US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
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Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...
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Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
US Set to Ring Alarm Bells Over Chinese Industry on World Stage: US Treasury Secretary Janet Yellen warned China’s leaders that the nation’s manufacturing power ...
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Jay Powell says US inflation ‘taking longer than expected’ to hit target: Comments from Federal Reserve chair come amid mounting doubts about pace of interest ...
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Yellen Meets Japan, South Korea Finance Ministers to Discuss Finance Cooperation: US Treasury Secretary Janet Yellen took note of worries between her Japanese ...
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White House to announce new sanctions on Iran following Israel airstrike: White House will be imposing new sanctions on Iran, targeting Tehran’s missile and ...
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Quick Glance: The Night Iran's Missile Show Rattled Israel
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- The direct clash between powerful militaries showcased Israel's defense and Iran's display of power.
- Despite minor damages and injuries, the question remains whether this attack signifies further escalation or the start of a war.
- The missile and drone strikes resulted in minimal damage, with Israel and allies successfully intercepting most projectiles.
Cash: Germans' assets at record value - Daily money is also popular: The Germans have more money in their pockets again. The reason for this is higher interest ...
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Quick Glance: Record: Germans Hold 7716 Billion Euros in Wealth
- German private individuals hold a net wealth of 7716 billion euros.
- Stocks and investment funds saw significant gains in the last quarter.
- Cash and bank deposits remain the largest component of wealth.
- Household net wealth increases by 244 billion euros to 5560 billion euros.
Yellen, China’s He Agree to Talks Aimed at ‘Balanced Growth’: US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng agreed to set in motion ...
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- US Treasury Secretary Janet Yellen announced intensive talks with China to address America's competitive disadvantages.
- Both sides will engage in intensive discussions on balanced economic growth and initiate exchanges on combating money laundering.
- Yellen emphasized the importance of addressing American concerns regarding overcapacity in Chinese production.
- The meetings will be held under existing economic and financial working group frameworks to address balanced growth and money laundering.
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Is Japan finally becoming a ‘normal’ economy? : Prices are rising, workers are demanding higher pay and the stock market is booming. But the country still has to ...
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- Nielsen's final numbers on Tuesday may reveal an increase in viewership.
- It marks the most-watched basketball game since 2019, when the men's NCAA title game between Virginia and Texas Tech averaged 19.6 million viewers on CBS.
- The women's final also recorded the highest viewership for a Sunday afternoon sporting event on ESPN and ABC since early 2021.
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U.S. to hit Iran with fresh sanctions after Israel attack: It's a subtle message to Israel that there's more than one way to harm Tehran.
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Quick Glance: Yellen warns of further sanctions in response to Iran's increasing activities
- Treasury Secretary Janet Yellen warned of potential global economic damage from rising tensions in the Middle East and pledged that the U.S. and its allies won't hesitate to use their sanctions powers to address Iran's 'malign and destabilizing activity' in the region.
- The fast-rising tensions between Iran and Israel and the potential implications of escalation on the global economy are at the forefront of the spring meetings of the International Monetary Fund and World Bank.
- Yellen announced additional sanctions actions against Iran in the coming days and expressed support for liquidating roughly $300 billion in frozen Russian Central Bank assets for Ukraine's reconstruction.
- Another major focus of this year's meetings will be Chinese industrial policy, which Yellen believes poses a threat to U.S. jobs and the global economy. She plans to meet with Chinese counterparts to identify potential areas of cooperation and address concerns.
Yellen Heads to China This Week to Press Beijing on Overcapacity: US Treasury Secretary Janet Yellen will this week travel to China for the second time in nine ...
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Quick Glance: US imposes new sanctions on Iran's drone program
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- The sanctions target executives of an engine manufacturer supplying Iran’s Shahad-131 drones, companies servicing the engines, and individuals providing the drones to Iranian proxy forces in the Middle East.
- Coordinated with European allies, the new sanctions aim to disrupt Iran's missile and drone program and isolate the country globally.
- President Joe Biden emphasized the US commitment to holding Iran accountable, utilizing economic tools to counter Iran's activities, as stated by Treasury Secretary Janet Yellen.
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Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
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- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
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US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
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Food inflation across rich nations drops to pre-Ukraine war levels: Annual change in prices across 38 industrialised countries eased to 5.3% in February ...
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Quick Glance: Decline in Food Prices in Industrialized Countries
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- The OECD is expected to address food prices as part of its comprehensive inflation update.
- The decrease in food price inflation was widespread in industrialized countries in February, with the latest OECD reading halved or almost halved from recent peaks.
US, China Have Stabilized Relations Over Past Year, Yellen Says: US and China have put their bilateral relationship on a “more stable footing” over the past year ...
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Consumer Prices Rose 3.5% in March From Year Earlier: Annual inflation ticked up and underlying price pressures remained strong last month. .
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Would America dare to bring down a Chinese bank?: Janet Yellen promises sanctions for those supporting Vladimir Putin’s war
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What about China’s overcapacity?: China says its industries are simply more competitive
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Quick Glance: Inflation down in German states, signaling national decline
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- Economists will closely monitor national inflation data as Germany releases its figures a day before the Eurozone inflation data on Wednesday.
- German companies expected the lowest prices in three years in March, with forecasts of inflation falling below the European Central Bank's target in the upcoming months.
- An increasing number of ECB policymakers have backed rate cuts, with a June meeting appearing as the most probable time for action, although a meeting is also scheduled for this month.
Would America dare to bring down a Chinese bank?: Janet Yellen promises sanctions for those supporting Vladimir Putin’s war
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Five Things You Need to Know to Start Your Day: Asia: Yellen to wrap up four-day China trip. Oil heads for $100 a barrel. Chinese investment into Australia ...
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Small business optimism hits lowest level since 2012: NFIB: The NFIB's Small Business Optimism Index slid in March to its lowest level since December 2012 amid ...
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If the Reserve Bank were a football coach, it would have been sacked eons ago: The bank’s job is to hold inflation between 2 and 3 per cent. Since mid-2014 ...
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US employers added a surprisingly robust 303,000 jobs in March in a sign of economic strength
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Quick Glance: US economy adds impressive 303,000 jobs last month
- Employers added 303,000 jobs in March, bringing the unemployment rate down to 3.8%.
- US stock futures rose slightly on Friday morning, but markets have had a rough week.
- The S&P 500 companies are expected to report positive first-quarter earnings, fueling optimism in the market.
- Investors are hopeful for a strong earnings season to continue the stock rally amidst concerns about inflation and interest rates.
U.S. Mortgage Rates Jump Above 7% for the First Time This Year: Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent ...
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Five Things You Need to Know to Start Your Day: Asia: Good morning. Wells Fargo becomes Wall Street’s biggest equity bull. Yellen offers China a blunt warning ...
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U.S., China to hold more financial shock exercises, Treasury officials say: The U.S. and China are deepening cooperation on financial stability issues, U.S ...
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Few in new poll say Biden law has helped fight climate change: Very few Americans believe the Inflation Reduction Act (IRA), signed into law by President Biden ...
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Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
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Yellen meets with China's central bank chief, presses case on excess capacity: U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will ...
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Jamie Dimon warns rates could stay high as market mood shifts: JPMorgan chief says inflation could be ‘stickier’ than markets expect in annual letter to ...
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Quick Glance: Jamie Dimon warns of potentially prolonged high rates
- JPMorgan chief Jamie Dimon warns in his annual letter to investors of potentially prolonged higher inflation and interest rates due to high government spending.
- Dimon mentioned that the economy is being fueled by government deficit spending and past stimuli, which could lead to potentially stickier inflation and higher rates.
- Financial markets have significantly reduced their expectations for the number of expected rate cuts by the US Federal Reserve, with only two quarter-point cuts planned in 2024.
- Dimon also warns of the risks of the private credit market boom and emphasizes that regulations may increasingly focus on this market, warning of geopolitical risks due to events like Russia's invasion of Ukraine.
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Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
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Janet Yellen says tariffs are on the table to stop a 'China Shock' as official urges U.S. not to 'politicize'
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Yellen launches contentious meetings on Chinese excess production threat: U.S. Treasury Secretary Janet Yellen on Friday kicks off four days of talks with senior ...
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Biden administration raises costs to drill on public lands: The Interior Department finalized a rule Friday making it more expensive for oil and gas producers to ...
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Quick Glance: Biden Raises Drilling Costs on Federal Lands, Trump Courts Oil Donors
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- While Trump discusses easing drilling regulations with energy executives, the US is historically pumping a lot of crude oil, complicating regulations for Trump and Biden's climate agenda.
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China’s Economic Moves Threaten U.S., European Companies. Yellen Is Pushing Back.
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The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
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Biden’s polite Trumpism on China: Communication matters precisely because the structural problem between the pair is probably insoluble
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China's overcapacity is here to stay: China's factories will keep chugging along, regardless of what overseas officials like Janet Yellen say. On Monday the U.S ...
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Mortgage rates hit highest level since November after hot inflation report: Mortgage rates jumped to their highest reading since November as the timeline for ...
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California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...
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Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay
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International Monetary Fund: Germany in last place among industrialized nations (again)
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China's Solar Manufacturing Boom: Market Forces, Not Words, Can Fix Overcapacity
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Wall St Week Ahead Surging US energy shares reflect robust growth, inflation worries
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bloomberg.com/news/newsletters/2024-04-09/stock-markets-today-yellen-threatens-sanctions-us-rate-cut-bets
Is it the right time to buy gold or wait as prices continue to soar: Is it the right time to buy gold as prices spiral?
timesofoman.com/article/144450-is-it-the-right-time-to-buy-gold-or-wait-as-prices-continue-to-soar
Markets Insight: The myth of long-term high prices: High inflation will soon be history. Longer-term factors should ensure a moderate price trend in the future ...
handelsblatt.com/finanzen/anlagestrategie/kolumnen/maerkte-insight-der-mythos-langfristig-hoher-preise/100026419.html
Why are auto insurance premiums so high? Blame inflation and a few other factors: Wednesday's inflation report showed consumer price growth continues to drift ...
nbcnews.com/business/consumer/auto-insurance-premiums-costs-high-prices-inflation-explainer-rcna147204
Janet Yellen defends herself against Chinese dumping practices: At the end of her four-day visit to China, the US Treasury Secretary once again accuses the ...
nzz.ch/wirtschaft/heikle-china-mission-janet-yellen-prangert-chinas-industriepolitik-an-will-aber-die-beziehungen-zu-peking-verbessern-ld.1825347
US inflation jumps as fuel and housing costs rise: Inflation was 3.5% in March, a sign that cooling has stalled and interest rate cuts may be delayed.
bbc.com/news/business-68781482
How California fast food restaurants raised menu prices in response to $20 minimum wage
nypost.com/2024/04/16/business/california-fast-food-restaurants-raised-prices-due-to-minimum-wage/
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