U.S. hiring probably accelerated last month, a range of high-frequency indicators suggests, as the effects of the latest COVID-19 surge began to subside, but even a second straight weak employment report would be unlikely to derail the Federal Reserve’s plans to begin reducing its support for the economy. Ahead of the U.S. Labor Department’s release…
Treasury’s Yellen: Fed Chief Pick ‘Up to the President’
U.S. Treasury Secretary Janet Yellen on Tuesday declined to say whether she would support a reappointment of Federal Reserve Chair Jerome Powell for a second term, saying it was up to President Joe Biden to decide. In an interview with CNBC, Yellen also said she trusts the U.S. central bank to make the right decisions…
Fed’s Mester Repeats First Rate Hike Could Come at the End of 2022
NEW YORK—The Federal Reserve’s conditions for raising interest rates could be met by the end of 2022, Cleveland Fed Bank President Loretta Mester said on Friday, adding that she expects inflation to come back down to the central bank’s target next year. “I think we’ll see progress in the labor market and progress on inflation…
Exclusive: Fed’s Harker Says Economy Close to Achieving Inflation Goal for Rate Hikes
October 2, 2021
admin
Business & EconomyDistrict of ColumbiaEconomieseconomyFedhikesinflationLocal NewsPatrick HarkerrateRegional-Local NewsUSUS News
0 Comment
The U.S. Federal Reserve may be close to meeting the inflation mandate set for raising interest rates, Philadelphia Fed Bank President Patrick Harker said, but it may be a year or longer before the central bank’s employment goal is met to allow for an actual rate increase. After running high this year because of the…
Dollar Set for Best Week Since June on Expected Fed Tightening
October 1, 2021
admin
Asia & PacificAustraliaBusiness & EconomyChinaChina Business & EconomyCompaniesDollarEconomieseconomyEuropeFedInternationalMarketsRegional-Local NewsUKUSUS NewsWorld
0 Comment
LONDON—The dollar began the last quarter of 2021 near its highest levels of the year, and was headed for its best week since June as investors expected a hawkish-sounding Federal Reserve to lift U.S. interest rates sooner than its major peers. Cautious market sentiment due to COVID-19 concerns, wobbles in China’s growth, and a Washington…
Bostic: US Near Full Employment Next Year, Rate Liftoff in 2022, Three Hikes in 2023
WASHINGTON—Ongoing economic growth will push the U.S. to near full employment by the end of 2022, with interest rates beginning to rise that year and “no impediment” to a faster pace of rate hikes after that, Atlanta Federal Reserve bank president Raphael Bostic said Thursday. “I have the economy operating very strong … and nearing…
Dollar Hovers Near 1-year High as Fed Tightening in Focus, Iron Ore Prices Boost Aussie
September 30, 2021
admin
Asia & PacificAussieAustraliaBusiness & EconomyCompaniesDollarEconomieseconomyEuropeFedInternationalMarketsUSUS NewsWorld
0 Comment
LONDON—The dollar hovered near its highest levels in a year against a basket of peers on Thursday on rising expectations the Federal Reserve will taper stimulus from November, while a bounce in iron ore prices boosted the commodity-linked Australian dollar. The safe haven greenback has made sharp gains over the last two sessions on concern…
Fed’s Bostic: US Job Market in a ‘Jumble,’ but Economy on Firm Footing
September 29, 2021
admin
Business & EconomyCompaniesDistrict of ColumbiaEconomieseconomyFedFirmjobJumbleLocal NewsRaphael BosticRegional-Local NewsUSUS News
0 Comment
WASHINGTON—The U.S. labor market is in a “jumble” as workers sort out child care and navigate an ongoing pandemic, but the country remains on track for a full recovery, Atlanta Fed president Raphael Bostic said on Tuesday. “There is a lot of shuffle and a lot of jumble and a lot of turbulence” as people…
Fed’s Powell: Economic Bottlenecks in Reopening Could Be ‘More Enduring’
WASHINGTON—The higher prices and hiring difficulties seen as the U.S. economy reopens from the pandemic could prove “more enduring than anticipated,” and the Federal Reserve would move against unchecked inflation if needed, Fed Chair Jerome Powell said in remarks prepared for delivery to the Senate Banking Committee on Tuesday. “The process of reopening the economy…
Senate Banking Chief Plans Bill to Address Fed Officials’ Stock Trades
September 28, 2021
admin
bankingBusiness & EconomyChiefCompaniescongressEconomieseconomyFedPoliticsSenateSherrod BrownstocktradesUSUS News
0 Comment
The head of the U.S. Senate Banking Committee on Tuesday said he plans to introduce legislation that would ban ownership of individual stocks by Federal Reserve officials in the aftermath of revelations that two reserve bank presidents had been active investors. Democratic Senator Sherrod Brown of Ohio told Fed Chair Jerome Powell of his intent…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`