Fed Lifts Interest Rates and Will Wind Down $9 Trillion Balance Sheet Assets to Tackle High U.S. inflation
The Federal Reserve on Wednesday raised a key interest rate by a half point and reaffirmed a more aggressive strategy to try to subdue the worst outbreak of U.S. inflation in 40 years.
Ford Just Reported a $3.1 Billion Loss. Blame Sliding Demand, Strong Dollar and… Rivian
New York(CNN Business) In the days after its November IPO, electric truck maker Rivian was briefly one of the world's most valuable automakers despite not yet having reported a single sale.
Jamie Dimon Predicted ‘Storm Clouds’ ahead for U.S. Economy Later This Year
The CEO of the biggest U.S. bank by assets said Wednesday that economic growth will continue at least through the second and third quarters of this year, fueled by consumers and businesses flush with cash and paying off debts on time.
U.S. PCE Price Index Up by 6.4% in Q4 2021
The Bureau of Economic Analysis revealed in its report about the U.S.’s Q4 2021 gross domestic product (GDP) published on Wednesday.
U.S. Labor Market Tightens as Weekly Jobless Claims Hit Lowest Level Since 1969
The number of Americans filing new claims for jobless benefits dropped to a 52-1/2-year low last week
Federal Open Market Committee Decided to Hike Key Rate by 25 BP, Blamed Elevated Inflation and Geopolitics
In line with consensus expectations, the Federal Open Market Committee (FOMC) raised the target range for the federal funds rate by 25 basis points at its meeting on March 15-16, 2022.
Covid Aid Dropped From U.S. Lawmakers’ Big Spending Deal
U.S. lawmakers late Wednesday passed a massive new bill that would fund the federal government for the remainder of the fiscal year, as well as further aid Ukraine, but a last-minute snag resulted in Covid-19 money being dropped.
Fed Chair Powell Left Open Possibility Of Hiking More Aggressively Should Inflation Persist
Fed Chairman Jerome Powell said Wednesday he still sees interest rate hikes ahead though he noted the “implications for the U.S. economy are highly uncertain” from the Ukraine war.
U.S. Inflation Tends to Be More Urban than Rural
Consumer prices in the U.S. accelerated last year predominantly in large U.S. metropolitan areas seeing an influx of new residents than in the nation overall, while inflation was milder in large coastal cities with less population growth.
U.S. Economy Shedding Workforce
Total nonfarm payroll employment in the United States declined by 301,000 in January, largely missing out on market expectations, Automatic Data Processing Inc. (ADP) revealed in its report released on Wednesday.
Agrifood Analytics Lab: “Access to Food will be Challenge this Winter”
Throughout the Covid-19 pandemic, U.S. shoppers have encountered the effects of everything from supply chain disruptions to pandemic-related labor constraints which have led to more and more pronounced grocery store shortages.
Make No Mistake: Current Inflation Snapshot and Outlook are Really Intimidating
U.S. consumers have been facing the steepest price increase in almost four decades, paying more for everything from cars to gasoline to food as uncomfortably hot inflation erodes most workers' wage gains.
Fed Minutes Scared Investors
Minutes from the Fed's December meeting released on Wednesday, January 5, showed that officials had discussed tapering the U.S. central bank’s asset holdings amid surging omicron infections setting new daily records as well as raising interest rates sooner than expected to fight inflation.
U.S. holiday retail sales rise 8.5% as online shopping booms – Mastercard
U.S. retail sales rose 8.5% during this year's holiday shopping season from Nov. 1 to Dec. 24, powered by soaring e-commerce sales, a report by Mastercard Inc said on Sunday.