Reuters US Economy

By David Lawder and Andrea Shalal WASHINGTON (Reuters) – The U.S. Treasury on Friday issued new guidance on a proposed Western price cap on Russian oil exports, saying that maritime services providers would not be held liable for false pricing information provided by buyers and sellers of Russian crude. The Treasury said in the guidance …

U.S. Treasury Russian oil price cap guidance gives safe harbor to maritime service firms Read More »

(Reuters) -U.S. household wealth fell by a record $6.1 trillion in the second quarter to its lowest in a year as a bear market in stocks far outweighed further gains in real estate values, a Federal Reserve report showed on Friday. Household net worth tumbled to $143.8 trillion at the end of June from $149.9 …

U.S. household wealth suffers record drop in second quarter Read More »

(Reuters) – Spain’s seasonally and calendar-adjusted industrial output rose 5.3% year-on-year in July compared to an increase of 7% in June, official data from the country’s National Statistics Institute (INE) showed on Friday. (Reporting by Marta Serafinko, editing by Inti Landauro)

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve is “strongly committed” to fighting inflation and remains hopeful that can be done without the “very high social costs” involved in prior campaigns to control surging prices, Fed Chair Jerome Powell said on Thursday, in remarks echoed by other U.S. central bankers as they …

Fed’s ‘soft landing’ hopes alive as it edges toward another big rate hike Read More »

By Julie Gordon and David Ljunggren OTTAWA (Reuters) – A senior Bank of Canada official left the door open on Thursday to another oversized interest rate increase, saying the central bank continues to see front-loading as the best way to battle the fastest rising prices in nearly four decades. Senior Deputy Governor Carolyn Rogers, answering …

Bank of Canada leaves door open to more oversized rate hikes Read More »

(Reuters) – Chicago Federal Reserve Bank President Charles Evans on Thursday said that next week’s inflation report could be “informative” on how much the Fed should raise interest rates next week, with his attention on how broad inflation pressures remain. “If I saw inflation maybe cooling a little bit that’s not going to change the …

Fed’s Evans says inflation read could inform Sept rate meeting Read More »

BERLIN (Reuters) – Germany’s IfW economic institute sharply lowered its forecast for the German economy next year, predicting that it would shrink due to high energy prices as a result of the Ukraine war. The IfW predicted that the German economy will contract by 0.7% in 2023. In June, it had predicted that Europe’s largest …

Germany’s IfW predicts recession, record inflation for 2023 Read More »

By Tom Westbrook and Rae Wee SINGAPORE (Reuters) – Asia’s central banks, alarmed by the surging dollar’s assault on their currencies, are ramping up their resistance with rate rises and market interventions, but it’s the relatively vulnerable economies of South and Southeast Asia putting up the best fight. In Indonesia, high raw materials prices are …

Analysis-Asia’s southern flank shines in fight vs surging dollar Read More »