By Michael S. Derby (Reuters) – Federal Reserve Chair Jerome Powell pushed back on Wednesday on rising hopes that the U.S. central bank may be able to undue some of its interest rate rises this year. The current outlook holds for slower growth, modest gains in unemployment and a slow decline in inflation, Powell said …
Fed’s Powell: If economy meets expectations, unlikely to see rate cuts this year Read More »
(Reuters) – Federal Reserve Chair Jerome Powell said on Wednesday that his hopes for an economic soft landing, despite very aggressive interest rate rises, remain alive. “I continue to think there’s a path to getting inflation back to 2% without a significant economic decline or significant increase in unemployment,” Powell said in his press conference …
Fed’s Powell: Prospect of U.S. soft landing remains alive Read More »
(Reuters) – Congress lifting the debt ceiling is the “only way forward” to allow the federal government to meet its obligations and no one should expect the Federal Reserve to be able to shield the economy from the effects of a failure to do so, Fed Chair Jerome Powell said on Wednesday. “There is only …
Fed’s Powell: No one should assume Fed can protect economy in debt default Read More »
NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday welcomed recent cooling in inflation data but said there had not been enough progress bringing price pressures back to 2%. “We will need substantially more evidence” that inflation is ebbing to be confident that it’s moving back toward the target,” Powell said in a …
NEW YORK (Reuters) – The negative impact of currency fluctuations on North American companies’ results rose sharply again in the third quarter of 2022, data from treasury and financial management firm Kyriba showed on Tuesday. The collective exchange-rate hit, including on companies in the United States, Canada and Mexico, was $43.15 billion in the third …
Currency fluctuations’ impact on N. American cos rose sharply in Q3 -report Read More »
JOHANNESBURG (Reuters) – South African manufacturing activity remained in positive terrain in January, as a decline in employment and new sales orders was offset by growth in business activity and inventories, a survey showed on Wednesday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) was at 53.0 points in January, almost unchanged from 53.1 in December …
South African factory activity stable in January – Absa PMI Read More »
MADRID (Reuters) – Factory activity in Spain kept on shrinking in January even though inflationary pressures eased and business confidence strengthened, a survey showed on Wednesday. S&P Global’s Purchasing Managers’ Index (PMI) for manufacturing rose to 48.4 in January from 46.4 in December, but still remained below the 50.0 mark that separates growth from contraction. …
Spanish factory output slides for 7th straight month in Jan -PMI Read More »
By David Lawder WASHINGTON (Reuters) – The United States on Tuesday said it was seeking a second trade dispute settlement panel over Canada’s dairy import quotas, charging that Canada was still not meeting obligations to open its market to American producers. The U.S. Trade Representative’s office said it was challenging Canada’s revised tariff-rate quota (TRQ) …
U.S. seeks new dispute panel over Canadian dairy imports Read More »
By Matt Tracy (Reuters) – Moody’s Investors Service expects the U.S. corporate debt default rate to accelerate to nearly 6% by year-end from 2% in 2022, it said in a report on Tuesday. The actual rate of default could prove much higher – 17.7% in the worst-case scenario – depending on the “severity of fallout …
U.S. corporate default rate to rise in 2023 -Moody’s Read More »
By Balazs Koranyi FRANKFURT (Reuters) -The euro zone eked out growth in the final three months of 2022, managing to avoid a recession even as sky-high energy costs, waning confidence and rising interest rates took a toll on the economy that is likely to persist into this year. Gross domestic product across the currency bloc …
Euro zone economy unexpectedly grows in Q4 but weak 2023 looms Read More »
