Reuters US Economy

By Lucy Craymer WELLINGTON (Reuters) -Gastroenterologist Wesley Kasen arrived in Hawke’s Bay New Zealand in February with his wife Marnie, two kids and dog from Colorado. Their arrival filled a vacancy at the local hospital. The Kasens are part of a migrant boom helping to ease the country’s acute labour shortages – a relief for …

New Zealand’s hot migration risks fanning inflation, forcing rates even higher Read More »

By Howard Schneider WASHINGTON (Reuters) – St. Louis Federal Reserve President James Bullard said on Friday he was ready to keep an “open mind” about whether to raise rates or hold them steady at the Fed’s June meeting, joining the “data dependent” stance of his colleagues after a year of urging them on to consecutive …

Fed’s Bullard: ‘Open mind’ on June meeting, though rates still may need to rise Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. job growth accelerated in April while wage gains increased solidly, pointing to persistent labor market strength that could compel the Federal Reserve to keep interest rates higher for longer as it fights to bring inflation under control. The Labor Department’s closely watched employment report on Friday also showed …

US job growth accelerates despite interest rate hikes Read More »

WASHINGTON (Reuters) – The quarter point rate increase approved by the Federal Reserve this week was “a good next step” in the fight against inflation, St. Louis Fed President James Bullard said on Friday. “We have a lot of inflation in the U.S. economy,” Bullard said in the first policymaker comments since the Fed’s latest …

St. Louis Fed’s Bullard says rate increase this week was good ‘next step’ Read More »

FRANKFURT (Reuters) – Euro zone companies are raising prices at a more moderate pace as their costs stabilise, demand cools and competition mounts, although growing wages remain a concern, according to a European Central Bank survey published on Friday. The ECB slowed the pace of its interest rate increases on Thursday but signalled more tightening …

Euro zone companies are slowing price hikes – ECB poll Read More »

(Reuters) -German industrial orders fell significantly more than expected in March, decreasing by 10.7% from the previous month on a seasonally and calendar adjusted basis, the federal statistics office said on Friday. A Reuters poll of analysts had pointed to a 2.2% decrease. It marks the largest month-on-month decline since 2020 at the height of …

German industrial orders slump unexpectedly in March Read More »

By Noel Randewich and Ankika Biswas (Reuters) – Wall Street ended lower on Thursday after PacWest’s move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase, Wells Fargo & Co and other major financial players. PacWest Bancorp tumbled 51% after it …

Wall Street ends down as PacWest fuels fears of deeper bank crisis Read More »

(Reuters) -The U.S. Federal Deposit Insurance Corporation is planning to exempt smaller lenders from kicking in extra money to replenish the government’s bedrock deposit insurance fund, and instead saddle the biggest banks with much of the bill, Bloomberg News reported on Thursday, citing people familiar with the matter. The FDIC is planning to release a …

FDIC plans to hit big banks with fees to refill deposit insurance fund – Bloomberg News Read More »

WASHINGTON (Reuters) – Pressure is growing on U.S. regulators to take further steps to shore up the country’s banking sector as a renewed rout in regional lenders’ shares forced PacWest Bancorp to explore options to bolster its balance sheet. Wall Street executives and bank analysts called for regulators to quickly provide more protection for bank …

Pressure grows for US regulatory intervention as bank rout deepens Read More »