Reuters US Economy

By David Lawder WASHINGTON (Reuters) – U.S. Trade Representative Katherine Tai told African counterparts on Tuesday that she wants to improve participation in the U.S. trade preferences program that provides access to U.S. markets for nearly 40 African countries. Tai said she wanted to conduct an “honest assessment” of the African Growth and Opportunity Act …

U.S. trade chief Tai calls for improvements to African trade program Read More »

(Reuters) – Sales of previously owned U.S. homes will fall for a second year in 2023 to their lowest annual total since 2012 when the housing market was still in a slow recovery from the sub-prime mortgage crisis, but sales prices should hold up, the National Association of Realtors said on Tuesday. Existing-home sales, which …

U.S. existing-home sales to slide to 11-year low in 2023, NAR says Read More »

By Lewis Krauskopf NEW YORK (Reuters) – Investors grew more upbeat about a year-end U.S. stock rally after a softer-than-expected inflation report on Tuesday lifted sentiment a day ahead of a Federal Reserve decision that looms as a second major test for markets this week. December is traditionally a rosy time of the year for …

Investors eye year-end rally as stocks pass week’s first test with tame CPI Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices rose less than expected for a second straight month in November amid decreases in the costs of gasoline and healthcare as well as used cars and trucks, leading to the smallest annual increase in inflation in nearly a year. Underlying consumer prices advanced by the least …

U.S. inflation subsiding as consumer prices rise moderately in boost to economy Read More »

WASHINGTON (Reuters) – The U.S. House of Representatives’ Rules Committee will begin the process of funding the federal government for one additional week, the panel’s chair said on Tuesday. Representative James McGovern, in a statement, said the committee would meet Tuesday to consider the emergency measure. (Reporting by Moira Warburton; writing by Susan Heavey)

By Ann Saphir (Reuters) – U.S. central bankers began their last policy-setting meeting of the year Tuesday with data suggesting inflation is finally cooling, allowing them to slow their interest-rate hikes into next year and, traders are now betting, stop short of 5% by March. Federal Reserve policymakers are still seen raising the policy rate …

Fed seen slowing rate hikes, likely ending them below 5% Read More »

By Steve Holland and Nandita Bose WASHINGTON (Reuters) – President Joe Biden on Tuesday said inflation in the United States was coming down and he hopes prices will be back to normal by the end of next year. U.S. consumer prices rose less than expected for a second straight month in November, resulting in the …

Biden says inflation going down but do not take anything for granted Read More »

WARSAW (Reuters) – The current level of interest rates in Poland is adequate, central banker Cezary Kochalski said on Tuesday. Poland’s Monetary Policy Council (MPC) has left its main interest rate unchanged at 6.75% at its last three sittings, taking a ‘wait-and-see’ approach after it raised the cost of credit by 665 basis points over …

Polish interest rates at adequate level, says c.banker Kochalski Read More »

By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund’s executive board on Monday discussed the surcharges it collects from mostly middle- and lower-income countries on larger loans that are not repaid quickly, but failed to agree to launch a formal review. Argentina, Pakistan and others are pushing the IMF to drop – or at …

IMF shareholders deeply divided on whether to suspend surcharges on some loans Read More »

By John Kemp LONDON (Reuters) -Portfolio investors were heavy sellers of petroleum for the fourth week running as the smooth introduction of the Russia price cap brought the weakness of the economy and oil demand into sharper focus. Hedge funds and other money managers sold the equivalent of 30 million barrels in the six most …

Investors abandon bullish oil positions as recession nears: Kemp Read More »