Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its way lower, it hasn’t moved quickly enough, and the current state of policy should remain intact. “More recent data shows...
Powell said that while inflation continues to make its way lower, the
Inflation and hiring have been firmer than expected this year, weakening
Fed Powell Says Progress in Reducing Inflation Stalled (Second column, 5th story, link) Related stories:Market fear signals flashing redIMF Steps Up Warning Over Spending and Ballooning DebtThe overlooked threats to global financial system Drudge Report Feed needs your support! Become a Patron
China’s economy grew faster than expected in the first quarter of the year with help from policies and stronger demand, though signs of weakness in the troubled housing market persisted. The world’s second-largest economy expanded at a 5.3 per cent annual pace in January-March, beating analysts’ forecasts of about 4.8 per cent, data released on […]
(Reuters) -JPMorgan Chase CEO Jamie Dimon expressed confidence in a robust U.S. economy backed by strong employment and healthy consumer finances. The U.S. economic boom is "unbelievable," Dimon said at an Economic Club of New York event on Tuesday. Dimon, who has run the largest U.S. lender for more than 18 years, has cautioned that inflation could be more persistent than expected, keeping interest rates higher for longer.
The IMF estimates Russia's economy will grow faster than the likes of the US, UK and Germany this year.
Official figures also highlighted the challenges faced by the country's crisis-hit property sector.
An inflation measure closely watched by the Federal Reserve rose faster than expected in March as high prices continue to weigh on millions of Americans. The personal consumption expenditures index showed that consumer prices rose 0.3% from the previous month, according to the Labor Department, in line with expectations. On an annual basis, prices climbed 2.7% – higher than both the 2.6% forecast from LSEG economists and the 2.5% reading recorded the previous month. In another sign that progress...
Federal Reserve Chair Jerome Powell says recent data show a lack of further
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The US economy slowed far more than expected in the first quarter of the year as its gross domestic product (GDP) endured the influence of stubborn inflation and high interest rates.