Reuters US Economy

NEW YORK (Reuters) – The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and signaled it may pause further increases, giving officials time to assess bank failures, how the Washington standoff over the U.S. debt ceiling plays out, the course of inflation. The U.S. central bank lifted it’s benchmark …

Instant View: Fed hikes another 25 basis points, hints it may be the last increase Read More »

By Ali Kucukgocmen and Nevzat Devranoglu ISTANBUL (Reuters) -Turkish annual inflation slowed to 43.68% in April, official data showed on Wednesday, easing ahead of elections that polls show President Tayyip Erdogan risks losing largely due to a cost-of-living crisis. Unorthodox rate cuts sought by Erdogan sparked a currency crisis in late 2021, sending inflation to …

Turkish inflation slows to 44% ahead of landmark election Read More »

ROME, May 3 (Reuters) – Italy’s unemployment rate edged down to 7.8% in March from 7.9% in February, data showed on Wednesday, as some 22,000 jobs were created in the month. The March jobess rate was below the median forecast of 8.0% in a Reuters survey of 11 analysts and was the lowest reading since …

Italy March jobless rate edges down to 7.8%, lowest since April 2020 Read More »

PARIS (Reuters) – Finance Minister Bruno Le Maire said on Wednesday that he would meet with retailers and suppliers next week to discuss ways to break the food price inflation “spiral” by autumn, which is a major concern for cash-strapped consumers. Le Maire also told Franceinfo radio that economic growth remained solid in France despite …

France’s Le Maire wants to break food price inflation “spiral” by autumn Read More »

By Jamie McGeever ORLANDO, Florida (Reuters) – The Fed may well hike U.S. interest rates again on Wednesday but cracks appearing on multiple fronts – jobs, lending, the banking system and debt ceiling – strongly suggest it will be the last of the cycle. Elements of all four have come together this week ahead of …

Column-Quadruple whammy whips June Fed rate hike off the table: McGeever Read More »

By Mike Dolan LONDON (Reuters) – The surging euro may be the European Central Bank’s best friend for a change. Unlike much of the past 15 years, euro strength is on the ECB’s side as it meets on Thursday. And it is unlikely to restrain the central bank from tightening further. With so much focus …

Column-Pandemic-sized euro surge now a boon for ECB: Mike Dolan Read More »

(Reuters) – Federal Reserve Chair Jerome Powell at his press conference on Wednesday is likely to get asked – again – what contingencies he plans for in the event of a U.S. debt default, and he is likely to say – again – that there is no central bank silver bullet to shield the economy …

Explainer: How the Fed might act in a US default Read More »

By Andrea Shalal WASHINGTON (Reuters) – A top White House economist on Tuesday said Federal Reserve interest rate hikes aimed at curbing inflation were having a negative impact on the banking sector, and warned Republicans against worsening the situation with their debt ceiling threats. Heather Boushey, a member of the White House Council of Economic …

Exclusive: White House’s Boushey – Fed interest rates having negative effect on banking sector Read More »

By Andy Sullivan WASHINGTON (Reuters) – A top White House official said on Tuesday that he was not concerned that President Joe Biden’s signature clean-energy law could cost more than originally anticipated as businesses take advantage of tax breaks that aim to spur green development. “I think this is evidence that the bill was actually …

Increased green tax-credit costs are a sign of success, White House’s Podesta says Read More »