Reuters US Economy

By David Lawder WASHINGTON (Reuters) -President Joe Biden’s nominee to run the Internal Revenue service pledged on Wednesday not to raise tax audit rates for U.S. households and small businesses earning less than $400,000 a year as the agency implements $80 billion in new funding for tax compliance. Danny Werfel, a management consultant who was …

Biden’s IRS nominee pledges no tax audit hike on earnings up to $400,000 Read More »

MADRID (Reuters) – Euro zone inflation could fall faster than earlier thought given a host of positive developments in recent months but past price hikes and a tight labour market could still exert upward pressure on underlying prices in the near term, European Central Bank policymaker Pablo Hernandez de Cos said on Wednesday. “Recent data …

Euro zone inflation could fall faster than thought, ECB’s De Cos says Read More »

By Mike Dolan LONDON (Reuters) – Market pricing tends to swing back and forth like a pendulum around eventual outcomes – and investors may now have to brace for another tough period working out the amplitude of higher U.S. interest rate possibilities. Money market guesswork on peak Federal Reserve rates swung back higher this month …

Column-Faced down by Fed, markets dab 6% onto risk radar :Mike Dolan Read More »

DUBAI (Reuters) – Saudi Arabia’s annual inflation rate inched up to 3.4% in January from 3.3% in December, with price rises again driven mainly by housing costs, government data showed on Wednesday. Housing, water, electricity, gas and other fuels, with a 25.5% weight of the consumer basket, the largest category, rose 6.6% from a year …

Saudi inflation ticks up to 3.4% in January Read More »

By Leika Kihara and Satoshi Sugiyama TOKYO (Reuters) -Japanese Prime Minister Fumio Kishida said on Wednesday he hoped the central bank’s new leadership will take into account the government’s goal of achieving higher wages and sustained economic growth, in guiding monetary policy. Kishida also said it was premature to say whether the government and the …

Japan’s PM says he hopes new BOJ chief will heed govt goal of higher wages Read More »

By Leah Douglas WASHINGTON (Reuters) – The United States said on Tuesday it was “disappointed” in the Mexican government’s announcement the previous day which walked back a deadline to ban genetically modified (GM) corn for animal feed and industrial use in the country, but retained its plans to ban the corn for human consumption. “The …

U.S. ‘disappointed’ in Mexico’s new GMO corn decree -ag secretary Read More »

By Michael S. Derby NEW YORK (Reuters) -New York Federal Reserve President John Williams said on Tuesday inflation remains too high, which could open the door for the U.S. central bank to take a more aggressive path on interest rate increases. Over the last year the U.S. central bank “has taken strong actions to bring …

Fed’s Williams says more rate rises needed to control high inflation Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices accelerated in January as Americans continued to be burdened by higher costs for rental housing and food, suggesting that the Federal Reserve was far from pausing its interest rate hiking campaign. The report from the Labor Department on Tuesday also showed the pace of disinflation in …

Rents push up U.S. consumer prices; inflation gradually cooling Read More »