Reuters US Economy

By Ann Saphir and Lindsay Dunsmuir (Reuters) -Federal Reserve officials, heartened by recent data, are looking for further confirmation that inflation is cooling and for any warning signs from a still-strong labor market as they steer cautiously toward what most expect to be an interest rate cut or two by the end of this year. …

Fed officials steer cautiously toward potential rate cuts Read More »

By Walter Bianchi BUENOS AIRES (Reuters) – Cash-strapped Argentina posted a fifth straight monthly primary fiscal surplus of 2.33 trillion pesos ($2.57 billion) in May, the largest yet under libertarian President Javier Milei who took office in December and ushered in tough austerity. The result, twinned with a monthly financial fiscal surplus of 1.18 trillion …

Argentina posts largest monthly primary surplus yet under Milei Read More »

By Lindsay Dunsmuir (Reuters) – The U.S. central bank should only start to cut interest rates after “months, and more likely quarters” of falling inflation, moderating demand and expanding supply, St. Louis Federal Reserve President Alberto Musalem said on Tuesday, in his first public comments on monetary policy since becoming head of the regional Fed …

Fed’s Musalem signals wary approach to cutting rates in debut speech Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales barely rose in May and data for the prior month was revised considerably lower, suggesting that economic activity remained lackluster in the second quarter. The smaller-than-expected increase in retail sales reported by the Commerce Department on Tuesday, however, likely exaggerates the slowdown in consumer spending. Part …

US retail sales tepid in May; manufacturing production surges Read More »

(Reuters) – Amazon Labor Union members have voted to affiliate with the International Brotherhood of Teamsters, according to a joint statement on Tuesday, the latest sign that unionization efforts were picking up at the e-commerce giant. ALU, the only union formally representing Amazon.com’s warehouse workers in the United States, had agreed to join Teamsters earlier …

Amazon Labor Union votes to ratify Teamsters affiliation Read More »

By Sheila Dang AUSTIN, Texas (Reuters) – Dallas Federal Reserve Bank President Lorie Logan on Tuesday said recent data showing inflation is cooling is “welcome news” but that the U.S. central bank can stay patient on interest-rate policy. “We’re going to need to see several more months of that data to really have confidence in …

Fed can be ‘patient,’ needs more good inflation data: Logan Read More »

By Tommy Reggiori Wilkes and Prinz Magtulis LONDON (Reuters) – Supporters for more consolidation in the euro zone’s banking sector have been watching Spanish lender BBVA’s hostile bid for Sabadell, alongside comments from some supervisors and lawmakers supporting the idea of more tie-ups. Regulators are keen for more consolidation – both within and across countries …

The euro zone’s fragmented banking industry Read More »

By Ann Saphir (Reuters) -U.S. Federal Reserve Chair Jerome Powell is scheduled to give his semiannual testimony on monetary policy on July 9 at the Senate Banking Committee, the office of Senator Sherrod Brown, the committee’s chair, said on Monday. If scheduling proceeds as it has historically, Powell would deliver the same testimony at the …

Fed Chair Powell scheduled for July 9 Senate Banking testimony Read More »

(Reuters) – The U.S. Federal Reserve would be able to cut its benchmark interest rate once this year, Philadelphia Fed President Patrick Harker said on Monday, if his economic forecast plays out. “If all of it happens to be as forecasted, I think one rate cut would be appropriate by year’s end,” Harker said in …

Fed’s Harker: one interest rate cut this year my base case Read More »