Reuters US Economy

By Miguel Lo Bianco and Hernan Nessi BUENOS AIRES (Reuters) -Argentina’s annual inflation rate soared to 109% in April, the country’s statistics agency said on Friday, smashing past analyst forecasts and stoking anger among hard-hit consumers who are increasingly having to skimp and save to get by. The South American nation, an important grains exporter …

Argentina inflation smashes past every forecast to hit 109% Read More »

By Jeff Mason WASHINGTON (Reuters) – President Joe Biden is expected to meet with Republican House Speaker Kevin McCarthy and other congressional leaders early next week to resume budget negotiations and resolve a looming default on the nation’s debt, White House spokesperson Karine Jean-Pierre said on Friday. The leaders had canceled a planned meeting on …

Biden to meet congressional leaders on debt early next week – White House Read More »

(Reuters) – The U.S. Federal Reserve will probably need to raise interest rates further if inflation stays high, Fed Governor Michelle Bowman said on Friday, adding that key data so far this month has not convinced her that price pressures are receding. “Should inflation remain high and the labor market remain tight, additional monetary policy …

Fed’s Bowman: more policy tightening likely appropriate Read More »

By Marc Jones and Canan Sevgili LONDON (Reuters) -Wild currency moves? Bazooka rate hikes? The many unknowns around Turkey’s pivotal elections on Sunday are leaving even the most experienced investors hedging their bets on how markets will react. The presidential vote, which could well require two rounds, is pitting President Tayyip Erdogan’s vision of a …

Investors buckle up for pivotal Turkey elections Read More »

JAKARTA (Reuters) – Indonesia’s April trade surplus was seen increasing from the previous month, with imports softening due to less production activities during the holiday of Ramadan, a Reuters poll showed. The median analysis of 14 economists in the survey showed the trade surplus in April likely increased to $3.38 billion from $2.91 billion in …

Indonesia’s April trade surplus seen increasing to $3.38 billion- Reuters poll Read More »

By Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia’s economy grew faster than expected in the first quarter buoyed by firm domestic demand, spurring the central bank to downplay fears of a global slowdown hitting the export-dependent country. Gross domestic product rose 5.6%, according to central bank and government data, faster than the 4.8% annual expansion forecast …

Malaysian central bank upbeat despite external slowdown Read More »

By Nell Mackenzie and Sinead Cruise LONDON (Reuters) – There are few jobs Robyn Grew has not mastered at the $145 billion hedge fund Man Group, where money keeps rolling in to a fast-growing business she helped to transform. Grew, named incoming CEO on Thursday, has held executive positions in compliance, trading, legal and operations …

Newsmaker: Robyn Grew, the trusted insider to lead Man Group hedge fund Read More »

NEW YORK (Reuters) – Emergency liquidity borrowing from the Federal Reserve was little changed in the latest week, the central bank reported on Thursday. The Fed said that borrowing via its discount window stood at $9.3 billion on Wednesday, from $5.3 billion on May 3, while its Bank Term Funding Program lending moved to $83.1 …

Key Fed emergency lending little changed in latest week Read More »

By Pete Schroeder (Reuters) -Around 113 of the largest U.S. lenders will bear the cost of replenishing a deposit insurance fund that was drained of $16 billion by recent bank failures, the Federal Deposit Insurance Corporation (FDIC) said on Thursday. The bank regulator will apply a “special assessment” fee of 0.125% to uninsured deposits of …

Big U.S. banks to pay billions to replenish failure fund Read More »