Reuters US Economy

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve held interest rates steady on Wednesday but U.S. central bank chief Jerome Powell said policymakers may be ready to reduce borrowing costs as soon as their next meeting in September, with recent data adding to their confidence that inflation is coming into line with …

Powell puts September rate cut on table after Fed leaves borrowing costs unchanged Read More »

By Juana Casas SANTIAGO (Reuters) – Between 2% and 5% of jobs in Latin America and the Caribbean are threatened by artificial intelligence (AI) and at risk of being fully automated, a report by the International Labor Organization and the World Bank said on Wednesday. According to the study, women and younger workers in formal …

AI could eliminate up to 5% of jobs in Latin America, study finds Read More »

(Reuters) -Traders on Wednesday added to bets the Federal Reserve will start easing in September and go big when it does, even after Fed Chair Jerome Powell said policymakers are not thinking about a 50-basis-point interest rate cut “right now.” Rate futures contracts continue to center around expectations for a more usual 25-basis point cut …

Traders boost bets Fed goes big on Sept rate cut Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. labor costs increased moderately in the second quarter as private sector wages grew at the slowest pace in 3-1/2 years, more evidence that inflation was firmly on a downward trend and could help facilitate an interest rate cut in September. The report from the Labor Department on Wednesday …

Slowing wage gains restrain US labor costs in second quarter Read More »

(Reuters) – The Federal Reserve held interest rates steady on Wednesday but opened the door to reducing borrowing costs as soon as its next meeting in September as inflation continues coming into line with the U.S. central bank’s 2% target. The central bank’s Federal Open Market Committee ended a two-day policy meeting by keeping its …

Instant view: FOMC does not change rates, but sets stage for September cut Read More »

By Nelson Bocanegra BOGOTA (Reuters) -Colombia’s central bank cut its benchmark interest rate by 50 basis points to 10.75% on Wednesday, its sixth cut since December, as the bank’s technical team raised its growth outlook for the year. The decision was backed by five of the central bank’s seven board members. Two members pushed for …

Colombia central bank cuts benchmark rate to 10.75%, hikes growth outlook Read More »

NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell said recent inflation data is increasing the central bank’s confidence that inflation pressures are moving back to the 2% target. After inflation data moderated in the second quarter, Fed officials have “gained greater confidence” price pressures are moderating in way that will open the door to …

Fed’s Powell: Recent price data bolstering confidence inflation moderating Read More »

By Jeanny Kao and Faith Hung TAIPEI (Reuters) – Taiwan’s trade-dependent economy grew more than expected in the second quarter thanks to stronger demand for new technology, such as artificial intelligence (AI). Taiwan is a key hub in the global technology supply chain for companies such as Apple and Nvidia, and home to the world’s …

Taiwan Q2 GDP tops forecasts on AI boom Read More »