Reuters US Economy

By P.J. Huffstutter CHICAGO (Reuters) – U.S. farm incomes are forecast to fall sharply for a second consecutive year, as direct government payments shrink, production costs surge and growing supplies of grains and oilseeds send crop prices plunging to multi-year lows, the U.S. Department of Agriculture reported on Wednesday. Declining income could lead to a …

US farm incomes to fall sharply in 2024 as crop prices plunge -USDA Read More »

By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Governor Adriana Kugler said on Wednesday she is “optimistic” that inflation will continue to decline, laying out the case for why some of the economy’s more persistent price pressures will abate. In her first policy speech since joining the Fed’s governing board in September, Kugler held close to …

Fed’s Kugler ‘optimistic’ on inflation, but says more ‘confidence’ needed Read More »

By Nicolás Misculin BUENOS AIRES (Reuters) -The government of Argentine President Javier Milei was seeking to salvage his wide-ranging economic reform package on Wednesday after Congress delivered a major blow a day earlier, casting doubt over its future and triggering a fall in financial markets. Lower house lawmakers on Tuesday rejected several crucial proposals in …

Argentina’s Milei weighs next steps after economic reform bill setback Read More »

By Mike Dolan LONDON (Reuters) – If the drugs don’t work, the dosage may be wrong. With January’s blowout U.S. job gains defying gravity, Federal Reserve officials are puzzling over just how much pressure the brutal interest rate rises of the past two years have actually exerted on the wider economy. Some have started to …

Column-Neutral rate debate resurfaces as US economy refuses to crack :Mike Dolan Read More »

(Reuters) – The European Central Bank must be patient with cutting interest rates as inflation could flare up again and recent data confirm fears that the ‘last mile’ of getting price growth down will be the hardest, ECB board member Isabel Schnabel told the Financial Times. The ECB has been holding interest rates at record …

ECB must be patient with rate cuts, Schnabel tells FT Read More »

By Promit Mukherjee and Steve Scherer OTTAWA (Reuters) – Bank of Canada (BoC) Governor Tiff Macklem on Tuesday said more time was needed for monetary policy to ease price pressures, while he warned that the biggest driver of prices – shelter costs – cannot be tamed by borrowing costs. “We can see monetary policy is …

Bank of Canada says more time needed to bring down inflation Read More »

By Jonathan Stempel NEW YORK (Reuters) -New York Community Bancorp was sued on Tuesday by shareholders in a proposed class action after the lender posted unexpected commercial real estate loan losses and slashed its dividend, causing its stock price to fall by more than half. In a complaint filed in Brooklyn federal court, shareholders said …

New York Community Bancorp is sued by shareholders as stock tumbles Read More »

By Michael S. Derby (Reuters) -Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday that if the U.S. economy performs as she expects it could open the door to rate cuts, but she’s not ready yet to offer any timing for easier policy amid ongoing inflation uncertainty. “Monetary policy is in a good …

Fed’s Mester open to rate cuts if it’s clear inflation is easing further Read More »

By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday said she is concerned about looming commercial real estate stresses on banks and property owners, but believes the situation is manageable with assistance from bank regulators. Yellen told a House Financial Services Committee hearing that refinancings of commercial real estate loans coming …

Yellen concerned about US commercial real estate but says stresses manageable Read More »

By Giuseppe Fonte ROME (Reuters) – Italy’s government cleared on Tuesday the major parliamentary hurdle in its plans to overhaul the country’s capital markets, despite warnings from the financial industry that the proposed legislation could backfire and discourage foreign investments. The Chamber of Deputies approved the bill by 135 to 1 with 92 abstaining, while …

Italy’s parliament close to approving disputed capital markets bill Read More »