WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell on Tuesday pledged that the U.S. central bank would ratchet interest rates as high as needed to kill a surge in inflation that he said threatened the foundation of the economy. “What we need to see is inflation coming down in a clear and convincing way and we’re …
Fed’s Powell vows to raise rates as high as needed to kill inflation surge Read More »
(Reuters) – The Russian economy, hit by unprecedented Western sanctions, is potentially resilient but needs a significant increase in imports and greater freedoms, economists at state development bank VEB said on Tuesday. The commodity-dependent economy is plunging into recession amid double-digit inflation after Russia sent thousands of troops into Ukraine on Feb. 24, triggering sweeping …
Russia needs significant rise in imports, development bank VEB says Read More »
(Reuters) – The Federal Reserve will “keep pushing” to tighten U.S. monetary policy until it is clear inflation is declining, Fed chair Jerome Powell said on Tuesday. “What we need to see is inflation coming down in a clear and convincing way and we’re going to keep pushing until we see that,” Powell said at …
Quotes: Powell says Fed won’t hesitate to move past neutral Read More »
WASHINGTON (Reuters) – The U.S. economy is likely to continue growing at an above-trend pace for at least the next 18 months, and households are likely to continue spending as the influence of the pandemic fades, St. Louis Fed president James Bullard said on Tuesday. Growth in the range of 2.5% to 3% is “fast …
Bullard: U.S. growth likely to continue above trend amid strong consumption Read More »
A look at the day ahead in markets from Dhara Ranasinghe. Bank of England boss Andrew Bailey is sorry for an “apocalyptic” view of the world, saying that monetary policy faces its biggest test in 25 years with surging inflation exacerbated by war in Ukraine and China’s COVID lockdowns. Federal Reserve chief Jerome Powell, who …
PARIS (Reuters) – Unemployment in France dipped slightly in the first quarter to the lowest rate in 14 years, official data showed on Tuesday, giving President Emmanuel Macron a boost ahead of legislative elections. The unemployment rate slipped to 7.3% from 7.4% in the previous three months, the INSEE statistics agency said. A Reuters poll …
French unemployment slips to 14-year low in first quarter Read More »
By Trevor Hunnicutt WASHINGTON (Reuters) – The White House and Amazon.com Inc founder Jeff Bezos squared off on Monday over the Biden administration’s handling of U.S. inflation and its plans to tax the rich. Starting over the weekend, Bezos has been slamming President Joe Biden, accusing him of misleading the public on inflation by arguing …
Bezos and White House battle over taxes and inflation Read More »
BRASILIA (Reuters) – Brazil’s Economy Minister Paulo Guedes said on Monday the government will reduce payroll taxes, without giving details or deadlines for a move he has defended since taking office in 2019. Speaking at an event hosted by the Brazilian supermarket association, Guedes also said that President Jair Bolsonaro, who seeks reelection in October, …
Brazil’s Guedes says govt will reduce payroll taxes Read More »
(Reuters) – The Russian central bank on Monday said Russian residents and non-residents from friendly states will be able to channel foreign currency abroad equivalent to up to $50,000 a month, from the previous limit of $10,000. Non-residents from unfriendly countries will now be able to send foreign currency abroad to the value of their …
Russia raises ceiling for cross-border transactions for individuals Read More »
By Dan Burns (Reuters) -New York Federal Reserve President John Williams said on Monday that selling mortgage-backed securities could be an option for the U.S. central bank to consider down the road in its goal to orient its balance sheet largely around holdings of Treasuries. Williams said MBS sales are not under consideration for the …
Sales of Fed’s mortgage-backed securities may be future option, Williams says Read More »
