(Reuters) – San Francisco Federal Reserve President Mary Daly on Thursday said she backs the plan to hike interest rates laid out by Fed Chair Jerome Powell and would like to see financial conditions tighten further to help bring inflation down. “Going up in 50-basis-point increments to me makes quite a bit of sense and …
Fed’s Daly backs half-percentage-point rate hikes at next meetings Read More »
By Natalia Zinets KYIV (Reuters) – Ukraine has been forced to spend 245.1 billion hryvnia ($8.3 billion) on its war with Russia instead of development, the finance minister said on Thursday, providing a glimpse into the huge economic cost of Moscow’s Feb. 24 invasion. The figure, which has not been disclosed by Ukraine’s government before, …
WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said that she believes the Federal Reserve can bring down inflation without causing a recession because of a strong U.S. job market and household balance sheets, low debt costs and a strong banking sector Yellen told a U.S. House of Representatives Financial Services Committee hearing on Thursday that …
U.S. Treasury’s Yellen says Fed can bring down inflation without causing recession Read More »
By Marcela Ayres BRASILIA (Reuters) -Services activity in Brazil rose more than expected in March and at a record pace for the month, official figures showed on Thursday, marking a strong recovery from the severe downturn caused by the COVID pandemic. Services activity increased 1.7% in March from February, more than double the 0.7% growth …
Brazil’s services activity beats forecasts with 1.7% rise in March Read More »
BEIJING (Reuters) – The industrialised Chinese coastal city of Wuxi is offering Nobel Prize winners up to 10 million yuan ($1.48 million) in housing subsidies to attract top talent in a national economy that is shifting towards innovation-driven development. In recent years, big cities across China including rising tech hubs in the country’s interior have …
Chinese city offers Nobel Prize winners $1.5 million housing subsidies Read More »
A look at the day ahead from Danilo Masoni. The return of U.S. inflation to more bearable levels is not going to happen overnight so those who were hoping for a clear signal that price pressures had peaked got disappointed. April’s hot consumer price data did leave bets of aggressive Fed tightening broadly intact and …
TOKYO (Reuters) – Japan’s service sector sentiment index rose in April for a second month, a Cabinet Office survey showed on Thursday. The survey of workers such as taxi drivers, hotel workers and restaurant staff, called “economy watchers” for their proximity to consumer and retail trends, showed their confidence about current economic conditions increased 2.6 …
Japan April service sector sentiment improves – govt Read More »
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) -Newly-elected Philippine President Ferdinand Marcos Jr. will inherit an economy that has strongly bounced back from the COVID-19 pandemic when he takes office in June, but soaring food and fuel costs will need to be addressed quickly. Southeast Asia’s fifth-largest economy grew a better-than-expected 8.3% …
Philippine economy in solid shape as Marcos set to take the helm Read More »
By David Lawder (Reuters) -The U.S. government posted a $308 billion surplus in April – a record for any month – as receipts nearly doubled from a year earlier amid a strong economic recovery from the COVID-19 pandemic, the Treasury Department said on Wednesday. The April surplus compared to a $226 billion deficit for April …
U.S. Treasury reports record budget surplus in April as revenues soar Read More »
By Howard Schneider and Lindsay Dunsmuir (Reuters) -The financial strength built up in U.S. households limited the damage from the coronavirus pandemic but may now be aggravating – and prolonging – the Federal Reserve’s inflation fight as the central bank waits for people to run out of spending power. The recent dive in stock market …
U.S. household strength may prolong Fed’s inflation fight Read More »
