Reuters US Economy

By Michael S. Derby (Reuters) – Democratic Senator Elizabeth Warren and Republican Senator Pat Toomey have joined together to propose legislation that would make it easier to get information out of the U.S. Federal Reserve’s 12 regional banks. The two senators said on Friday in press releases their proposed law would, among other changes, bring …

U.S. senators propose law to boost transparency at regional Fed banks Read More »

(Reuters) – U.S. household wealth fell by $400 billion in the third quarter as a drop in U.S. stock prices outpaced gains in real estate values, a Federal Reserve report showed on Friday. Household net worth declined to $143.3 trillion at the end of September from $143.7 trillion at the end of June, the Fed’s …

U.S. household wealth falls for third consecutive quarter Read More »

By Medha Singh (Reuters) – Corporate America is starting to feel the chill of a looming recession as top executives from companies such as JPMorgan Chase & Co, Walmart Inc and United Airlines paint a grim economic picture for the coming year. A survey by the Business Roundtable of top U.S. CEOs on Monday showed …

Recession drumbeat gets louder as more U.S. CEOs strike mellow note for 2023 Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices rose slightly more than expected in November amid a jump in the costs of services, but the trend is moderating, with annual inflation at the factory gate posting its smallest increase in 1-1/2 years. The report from the Labor Department on Friday also showed underlying producer …

U.S. producer prices increase; near-term inflation expectations ease Read More »

OTTAWA (Reuters) – The Bank of Canada will likely need to keep interest rates at or above 4% for most of 2023 to cool an overheated economy and tame high inflation, the International Monetary Fund (IMF) said in a report. The central bank’s benchmark overnight interest rate currently stands at a nearly 15-year high of …

Bank of Canada will likely need to hold rates above 4% in 2023 -IMF Read More »

By Kantaro Komiya TOKYO (Reuters) – Japanese manufacturers’ sentiment likely weakened in the last quarter of 2022 on sustained cost pressures and a bleaker global economic outlook, a Reuters poll of analysts showed on Friday. Shrinking business confidence bodes ill for the world’s third-largest economy, as firms brace for labour talks in early 2023. Wage …

Japan’s Q4 tankan factory mood set to weaken on inflation, global slowdown: Reuters Poll Read More »

BEIJING (Reuters) – China’s factory-gate prices showed an annual fall for a second month in November while consumer inflation slowed, indicating weak activity and soft demand in an economy that has been held back by tough pandemic controls. Analysts said they expected the government to keep interest rates low and take measures to boost confidence. …

China’s producer prices fall, consumer inflation slows on soft demand Read More »

By Jonathan Cable LONDON (Reuters) – The European Central Bank will take its deposit rate up by 50 basis points next week to 2.00%, despite the euro zone economy almost certainly being in recession, as it battles inflation running at five times its target, a Reuters poll found. Since starting its inflation-fighting campaign in July, …

ECB to raise deposit rate by 50 bps on Dec 15 as bloc enters winter recession: Reuters Poll Read More »

By Anant Chandak and Milounee Purohit BENGALURU (Reuters) – India consumer price inflation likely cooled to a nine-month low of 6.40% in November mainly due to a moderation in food prices, according to a Reuters poll of economists. Inflation has stayed above the upper end of the Reserve Bank of India’s 2%-6% tolerance band all …

India inflation likely softened to nine-month low in November: Reuters poll Read More »