Reuters US Economy

By Davide Barbuscia NEW YORK (Reuters) – Central banks’ focus on fighting persistently high inflation could lead to a recession over the next two years and raise the risk of ‘financial accidents’, U.S. investment firm PIMCO said on Wednesday. Rising prices have dominated the global financial markets this year, pushing central banks to increase interest …

Inflation and recession dominate outlook, increase risk of accidents – PIMCO Read More »

By Ann Saphir (Reuters) – Chicago Federal Reserve Bank President Charles Evans on Wednesday signaled he would likely back another big interest rate hike in July unless inflation data improves, saying the Fed’s top priority is to “take the steam” out of price pressures. “Seventy-five (basis points) is a very reasonable place to have a …

Fed’s Evans: another big rate hike ‘reasonable’ for July Read More »

(Reuters) – The U.S. Federal Reserve should raise interest rates above 3% by the end of this year and then reassess how much more it needs to do to bring inflation down in part due to the tightening impact of the central bank reducing its balance sheet in tandem, Philadelphia Fed President Patrick Harker said …

Fed’s Harker says interest rates should reach above 3%, then reassess Read More »

By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) -Key progress has been made in talks on the revival of Pakistan’s International Monetary Fund bailout programme, both sides said on Wednesday, with Islamabad expecting the lender to increase the size and duration of the 39-month, $6 billion facility. The statements came as Pakistan’s economy teeters on the brink …

Pakistan, IMF say bailout talks make progress Read More »

A look at the day ahead in markets from Sujata Rao. Rail strikes, the biggest in three decades, are thinning out office districts across Britain this week. Other professional groups, from barristers to postmen, also plan to hit the barricades in coming weeks to demand more pay. Data on Wednesday shows why. Annual consumer inflation …

Marketmind: Inflation psychology Read More »

By Nelson Bocanegra BOGOTA (Reuters) -Colombia’s peso currency, its stock index and shares in state-run oil company Ecopetrol fell on Tuesday after leftist Gustavo Petro was elected president in a Sunday vote. Petro has promised to tackle deep inequality with pension redistributions, free university education and other social programs. The election of the former M-19 …

Colombian peso, market down on leftist Gustavo Petro’s presidential win Read More »

By Lindsay Dunsmuir (Reuters) -Federal Reserve Chair Jerome Powell’s guidance that the U.S. central bank will most likely raise interest rates by 50 or 75 basis points in July is “reasonable,” Richmond Fed President Thomas Barkin said on Tuesday, even as he cautioned against the bank moving so fast that it damages the economy. “I …

Fed’s Barkin backs 50 or 75 bps rate hike in July Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. existing home sales tumbled to a two-year low in May as prices jumped to a record high – topping the $400,000 mark for the first time – and mortgage rates increased further, pushing out entry-level buyers from the market. Despite the fourth straight monthly drop in sales and …

U.S. home sales slide as prices break above $400,000 for first time Read More »

By Khalid Abdelaziz and Mohamed Nureldin Abdalla Khartoum (Reuters) – An accelerated breakdown in services including water and electricity supplies has left Sudanese citizens counting the cost of political stalemate after a military takeover last October. The slide in living conditions comes after the coup triggered the suspension of billions of dollars in international funding, …

Sudan’s economy sinks as post-coup leadership searches for support Read More »

By Lindsay Dunsmuir (Reuters) – Only about one third of the current bout of high inflation in the United States is demand driven, according to research published by the San Francisco Federal Reserve on Tuesday, underscoring the difficulties U.S. central bankers face in bringing inflation to heel. The Federal Reserve has ramped up the size …

Demand issues account for one-third of U.S. inflation spike – SF Fed Read More »