Reuters US Economy

NEW YORK (Reuters) – Central bank efforts to tame inflation could spark a recession and market selloff that later this year or in 2024 leads to investment opportunities, the BlackRock Investment Institute (BII) said on Monday. Increased market volatility is likely ahead over talks in Washington to raise the U.S. government’s $31.4 trillion borrowing cap. …

Anti-inflation fight may spur recession, investment opportunities -BlackRock Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 and the Dow ended with modest gains on Monday after manufacturing data raised concerns about a slowing U.S. economy that could help bring down inflation amid ongoing debt ceiling negotiations, while a rise in Meta shares helped lift the Nasdaq. The New York Federal Reserve’s …

Dow, S&P edge up as data, debt ceiling curb gains Read More »

By Michael S. Derby NEW YORK (Reuters) -Americans’ appetite for taking on new mortgages slowed substantially during the first quarter, data released by the New York Fed on Monday showed, amid a modest gain in overall household borrowing levels at the start of the year. Overall household debt levels rose by 0.9% to $17.05 trillion …

New York Fed finds big slowdown in new mortgage creation in first quarter Read More »

By David Lawder WASHINGTON (Reuters) -President Joe Biden’s administration and Republicans in the U.S. Congress are in talks to end their standoff over raising the $31.4 trillion debt ceiling, haggling over vastly different proposals that both claim to cut deficits by trillions of dollars. Democrat Biden’s full $6.8 trillion fiscal 2024 budget request doubles down …

Explainer-Biden’s budget vs. Republican debt ceiling bill on spending, deficits, taxes Read More »

WASHINGTON (Reuters) – The White House last week gave Republican lawmakers a list of proposals to reduce the deficit by closing tax loopholes as part of debt ceiling talks, and each item was rejected by Republican negotiators, the Washington Post reported on Monday, citing three sources. Senior White House officials floated the tax plans on …

Republicans reject White House tax loophole proposal in debt talks -WaPo Read More »

MEXICO CITY (Reuters) – The Bank of Mexico is expected to hold the country’s benchmark interest rate on Thursday, halting a cycle of rate hikes that began in June 2021, a Reuters poll of analysts showed on Monday. Twelve of the 15 analysts polled by Reuters see Mexico’s central bank maintaining borrowing costs at the …

Bank of Mexico seen holding interest rate after nearly two years of hikes – Reuters poll Read More »

DUBAI (Reuters) – Saudi Arabia’s annual inflation rate was 2.7% in April, unchanged from the previous month, driven mostly by housing rental costs, government data released on Monday showed. Housing, water, electricity, gas, and other fuels rose by 8.1% from a year earlier, while the food and beverage sector – the leading driver for inflation …

Saudi inflation steady at 2.7% in April, driven by housing Read More »

By Ann Saphir PALO ALTO, Calif. (Reuters) -The Federal Reserve is getting interest rates closer to where they need to be to win the battle against inflation, a pair of U.S. central bankers said on Friday, though neither gave a clear signal on whether they feel they have reached that point. Coming a week after …

Fed policy on right track, but inflation still too high, officials say Read More »

PALO ALTO, Calif. – Federal Reserve Governor Philip Jefferson said on Friday he is just as serious about the central bank’s goal of full employment as about its mandate for stable prices, but emphasized that bringing high inflation down is critical. “I care very much about how the labor market performs because for most people …

Fed’s Jefferson: inflation ‘insidious,’ need to bring it down Read More »

(Reuters) -Finance leaders of the Group of Seven (G7) advanced economies set a year-end deadline for launching a new scheme to diversify global supply chains, and vowed to address regulatory gaps in the banking system, according to a final draft of their communique seen by Reuters. In the draft communique, the G7 central banks said …

Exclusive-G7 to vow diversifying of supply chains, filling bank regulatory gaps -draft Read More »