WASHINGTON (Reuters) -The U.S. Senate Banking Committee voted on Wednesday to advance the nomination of Michael Barr to serve as the Federal Reserve’s top regulatory official. By a vote of 17 to 7, the panel agreed to send his nomination to the full Senate. If confirmed as vice chair for supervision, Barr, a former senior …
Michael Barr appointment to head Fed’s bank oversight advances Read More »
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday the Biden administration was looking to “reconfigure” tariffs on Chinese imports but warned that such cuts would not be a “panacea” for easing high inflation. Yellen told a U.S. House of Representatives Ways and Means Committee hearing that the Biden administration …
Yellen says some China tariff cuts may be warranted, not inflation ‘panacea’ Read More »
By Rodrigo Campos NEW YORK (Reuters) -U.S. inflation could remain above the Federal Reserve’s targets for a long time based on current projections, and there is a risk of inflation expectations “de-anchoring,” International Monetary Fund First Deputy Managing Director Gita Gopinath said on Wednesday. Based on current projections of what the interest rate path may …
IMF’s Gopinath sees risk of de-anchoring U.S. inflation expectations Read More »
(Reuters) – U.S. power consumption was on track to rise to record highs in 2022 and 2023 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. The EIA projected power demand will climb to 4,010 billion kilowatt-hours (kWh) in 2022 and 4,019 billion kWh …
U.S. power use to rise in 2022 as economy keeps growing – EIA Read More »
WASHINGTON (Reuters) -Gun violence can have a lasting negative impact on survivors and hurt the U.S. economy, U.S. Treasury Secretary Janet Yellen told a U.S. Senate hearing on Tuesday, adding her hope that Congress would act to reduce the national problem soon. Yellen said economic research showed that events in childhood – such as school …
Yellen says gun violence has impact on economy, survivors Read More »
NEW YORK (Reuters) – The cost to ensure exposure to Turkey’s sovereign debt jumped on Tuesday and Turkey’s dollar-denominated bond prices fell a day after President Tayyip Erdogan’s pledge to continue cutting interest rates. Turkey 5-year credit default swaps added 17 basis points (bps) from Monday’s close to 736 bps, levels last seen during the …
Turkish 5-yr CDS jump, bond prices under pressure Read More »
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit narrowed by the most in nearly 9-1/2 years in April as exports jumped to a record high, putting trade on course to contribute to economic growth this quarter. The sharp decline reported by the Commerce Department on Tuesday reversed March’s surge and suggested that trade …
DUBAI (Reuters) – Saudi Arabia’s gross domestic product grew 9.9% in the first quarter, the fastest in a decade and more than a flash estimate last month of 9.6%, official data showed on Tuesday. It was the fastest expansion since the third quarter of 2011 with the increase in oil production a key factor, said …
Saudi GDP grows 9.9% in Q1, beating flash estimate Read More »
TOKYO (Reuters) – Foreign tourists visiting Japan will be required to wear masks, take out private medical insurance and be chaperoned throughout their stay, the government said on Tuesday, as it plans a gradual opening from two years of COVID-19 restrictions. Only visitors on package tours will be allowed in during the first phase of …
Japan to open to tourists after two years but only with masks, insurance, guides Read More »
BERLIN (Reuters) – German industrial orders fell more than expected in April, the third decline in a row, driven by weakened demand and heightened uncertainty due to the Russian invasion of Ukraine, data showed on Tuesday. Orders for industrial goods dropped by 2.7% on the month in seasonally adjusted terms after a upwardly revised decline …
German industrial orders fall more than expected in April Read More »
