Reuters US Economy

By Miguel Lo Bianco and Juan Bustamante BUENOS AIRES (Reuters) -Argentina’s annual inflation rate hit near 290% in April, the highest in decades, but showed signs of cresting as the monthly rate slowed down more than analysts expected amid a tough austerity drive by libertarian President Javier Milei. According to official data released on Tuesday, …

Argentina inflation crests nears 300% as monthly rate slows Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices increased more than expected in April amid strong gains in the costs of services like portfolio management and hotel accommodation, indicating that inflation remained stubbornly high early in the second quarter. The report from the Labor Department on Tuesday also showed wholesale goods prices rising solidly …

Strong services fan US producer inflation in April Read More »

AMSTERDAM (Reuters) – Federal Reserve Chair Jerome Powell said on Tuesday support for U.S. central bank independence remains “very strong” in Congress, pushing back on concerns surfaced in recent news coverage that the hands-off status the Fed largely enjoys may be jeopardized by a second presidency of Donald Trump. “I’m less worried about that than …

Powell: Very strong support in Congress for an independent Fed Read More »

By Nupur Anand NEW YORK (Reuters) – Almost 50 U.S. lenders could fail in the coming years under pressure from higher interest rates and operational problems, Nomura analyst Greg Hertrich told reporters at the company’s New York office on Tuesday. The collapses of three U.S. banks last year — Silicon Valley, Signature and First Republic …

US bank failures could surge by almost 50, Nomura analyst says Read More »

By Rene Wagner BERLIN (Reuters) – Germany will be hoping for sporting success as host of the 2024 Euros soccer championship kicking off in a month’s time, but it will also be looking for a consumption boost from all the fans guzzling beer and staying in hotels and rented rooms. Europe’s largest economy is expected …

Factbox-How hosting Euro 2024 could impact the German economy Read More »

(Reuters) -Staff of the International Monetary Fund (IMF) and Argentine authorities have reached an agreement on the eighth review of the country’s $44 billion extended fund facility arrangement, as reforms under President Javier Milei have improved macroeconomic stability, the IMF said on Monday. The IMF said the decision, which will unlock a disbursement of close …

IMF staff, Argentina agree loan review to help unlock $800 million Read More »

(Reuters) – Corporate price gouging has not been a primary driver of U.S. inflation, according to research published on Monday by economists at the Federal Reserve Bank of San Francisco. While markups for motor vehicles and petroleum products did rise sharply during the 2021-2022 inflation surge, markups across the entire spectrum of U.S. goods and …

Corporate greed not to blame for price pressures, Fed study shows Read More »

(Reuters) – Two U.S. financial regulators jointly proposed new rules on Monday that would fight money laundering by requiring fund advisers to document customer identities, part of a wider effort to keep dirty money out of the investment industry. The new rules were proposed by the U.S. Securities and Exchange Commission and the U.S. Treasury …

US financial regulators propose anti-money laundering rules for fund advisers Read More »

By Sudip Kar-Gupta and Elizabeth Pineau PARIS (Reuters) – France won a record 15 billion euros ($16.17 billion) in foreign investment pledges on Monday, allowing President Emmanuel Macron to bask in the limelight with global CEOs and forget about strained public finances and weak polls for a while. The bumper crop of pledges, in sectors …

‘Choose France’ investment push bags record $16 billion in pledges Read More »