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San Francisco Federal Reserve Bank President Mary Daly on Thursday said the US central bank will keep monetary policy easy(PTI File Photo)

Fed won't react to temporary rise in inflation this year: Official

Reuters |
PUBLISHED ON APR 01, 2021 10:17 PM IST
"As policymakers we have to look through these temporary increases; we're really looking for sustained improvements in inflation so we can average 2% and meet our price stability goals," Daly said
A passerby watches an electronic stock indicator in Tokyo. Asian stock markets tumbled amid fears the US may be heading back into recession and Europe's debt crisis is worsening. The sell-off follows the biggest one-day points decline on Wall Street since the 2008 financial crisis.
A passerby watches an electronic stock indicator in Tokyo. Asian stock markets tumbled amid fears the US may be heading back into recession and Europe's debt crisis is worsening. The sell-off follows the biggest one-day points decline on Wall Street since the 2008 financial crisis.

Asian markets rally on Fed growth, rate outlook

AFP | | Posted by Harshit Sabarwal
PUBLISHED ON MAR 18, 2021 02:21 PM IST
With growth already expected to burst higher this year, huge stimulus spending kicking in and vaccines being rolled out, investors have in recent weeks grown worried about a surge in inflation that could force the central bank to reconsider its dovish stance.
Speaking at a news conference, Powell made clear his belief that the economy will struggle in the coming weeks and months, until widespread vaccinations and government rescue aid eventually fuel a sustained rebound.(Reuters File)
Speaking at a news conference, Powell made clear his belief that the economy will struggle in the coming weeks and months, until widespread vaccinations and government rescue aid eventually fuel a sustained rebound.(Reuters File)

Federal Reserve stresses its commitment to low rates as US economy stumbles

AP | , Washington
PUBLISHED ON JAN 28, 2021 05:58 AM IST
The Fed said in a statement after its latest policy meeting that hiring and economic growth had slowed, particularly in industries affected by the raging pandemic, notably restaurants, bars, hotels and others involving face-to-face public contact.
The pandemic will likely continue to weaken the economy through the winter and perhaps early spring.(AFP file photo. Representative image)
The pandemic will likely continue to weaken the economy through the winter and perhaps early spring.(AFP file photo. Representative image)

US loses 140,000 jobs, first monthly loss since spring

Washington | By Associated Press| Posted by: Harshit Sabarwal
UPDATED ON JAN 08, 2021 09:22 PM IST
Friday’s figures from the Labor Department suggest that employers have rehired roughly all the workers they can afford to after having laid off more than 22 million in the spring — the worst such loss on record. With consumer spending barely growing over the past few months, most companies have little incentive to hire.
The Fed in December said it would keep those purchases going “until substantial further progress has been made” in returning the economy to full employment and lifting inflation to the Fed’s 2% goal.(Reuters file photo)
The Fed in December said it would keep those purchases going “until substantial further progress has been made” in returning the economy to full employment and lifting inflation to the Fed’s 2% goal.(Reuters file photo)

Fed minutes may shed light on bond plans, views of vaccine

Washington | By Reuters| Posted by: Harshit Sabarwal
PUBLISHED ON JAN 06, 2021 07:17 PM IST
The minutes of that meeting will be released Wednesday and are likely to detail just what drove that decision and how the Fed is factoring the promise of a coronavirus vaccine into its plans. Of greatest interest is any insight those minutes offer into what it would take for central bankers to shift monetary policy in coming months if widespread immunization triggers a stronger economic rebound.
Congressional leaders plan to attach the coronavirus aid package to a $1.4 trillion spending bill funding government programs through September 2021.(AP)
Congressional leaders plan to attach the coronavirus aid package to a $1.4 trillion spending bill funding government programs through September 2021.(AP)

US Congress poised to vote on $900 bn Covid aid package after Fed compromise

Washington | By Reuters | Posted by Kunal Gaurav
UPDATED ON DEC 20, 2020 02:27 PM IST
US President Donald Trump, whose administration has largely left negotiations up to congressional leaders, complained early on Sunday morning that a deal had not been reached.
The $900 billion package comes as the pandemic is delivering its most fearsome surge yet, killing more than 3,000 victims per day and straining the health care system.(AP file photo)
The $900 billion package comes as the pandemic is delivering its most fearsome surge yet, killing more than 3,000 victims per day and straining the health care system.(AP file photo)

Covid-19: Fight over Fed powers stalls $900 billion aid plan

Washington | By Associated Press| Posted by: Harshit Sabarwal
UPDATED ON DEC 20, 2020 03:17 AM IST
Saturday’s impasse is just the latest stumble in a partisan, monthslong fight, and feelings hardened as the Senate congregated for a weekend session. Lawmakers on both sides said a provision by Sen. Pat Toomey, R-Pa., that would curb emergency Federal Reserve powers was the sticking point.
Jerome Powell, chairman of the US Federal Reserve, speaks during a virtual news conference in Tiskilwa, Illinois, US on Wednesday.(Bloomberg)
Jerome Powell, chairman of the US Federal Reserve, speaks during a virtual news conference in Tiskilwa, Illinois, US on Wednesday.(Bloomberg)

Powell busts out Fed model to defend high equity valuations

By Bloomberg | Posted by Kanishka Sarkar
UPDATED ON DEC 17, 2020 03:00 AM IST
The Federal Reserve chairman noted that relative to risk-free rates of return, a reference to Treasury yields, shares probably aren’t as overpriced as they appear at first blush.
The Fed and its chair Jerome Powell likely will, as usual, steer clear of making any political statement, but experts say they likely will update their view on how the economy will fare in 2021 as vaccines against the virus are rolled out.(Reuters file photo)
The Fed and its chair Jerome Powell likely will, as usual, steer clear of making any political statement, but experts say they likely will update their view on how the economy will fare in 2021 as vaccines against the virus are rolled out.(Reuters file photo)

Fed may convey optimism on US economy despite stimulus deadlock

Washington | By Agence France-Presse| Posted by: Harshit Sabarwal
UPDATED ON DEC 13, 2020 01:18 PM IST
The policy-setting Federal Open Market Committee (FOMC) will open its final meeting of 2020 on Tuesday, capping a year that saw the world’s largest economy contract massively due to Covid-19, and Joe Biden oust President Donald Trump in the November presidential election.
The increase in the producer price index, which measures inflation pressures before they reach the consumer, followed bigger gains of 0.3% in October and 0.4% in September.(AFP File Photo)
The increase in the producer price index, which measures inflation pressures before they reach the consumer, followed bigger gains of 0.3% in October and 0.4% in September.(AFP File Photo)

Inflation still a no-show, US wholesale prices up just 0.1%

Associated Press | By Associated Press | Posted by Kanishka Sarkar
PUBLISHED ON DEC 11, 2020 09:48 PM IST
In the report on wholesale prices, the cost of food was up 0.5% after a 2.4% gain in October. Energy costs rose 1.2% after a 0.8% tick higher in November.
US President-elect Joe Biden concludes his remarks to reporters following an online meeting with members of the National Governors Association (NGA) executive committee in Wilmington, Delaware, US on November 19, 2020.(Reuters File Photo)
US President-elect Joe Biden concludes his remarks to reporters following an online meeting with members of the National Governors Association (NGA) executive committee in Wilmington, Delaware, US on November 19, 2020.(Reuters File Photo)

Joe Biden says he’s decided on treasury secretary nomination

Washington | By Associated Press | Posted by Kanishka Sarkar
UPDATED ON NOV 20, 2020 06:17 AM IST
Joe Biden’s treasury secretary would lead his economic team as many businesses and Americans struggle while the pandemic continues.
A Wall Street sign is pictured outside the New York Stock Exchange in the Manhattan borough of New York City, New York.(Reuters)
A Wall Street sign is pictured outside the New York Stock Exchange in the Manhattan borough of New York City, New York.(Reuters)

US stocks drop lowest in two weeks amid stimulus worries

By Bloomberg | Posted by Shivani Kumar
UPDATED ON OCT 20, 2020 02:25 AM IST
Data showed key parts of the American economy are slowing two weeks ahead of the vote, while Federal Reserve officials warn the growth will slow without additional federal spending.
A police officer keeps watch in front of the US Federal Reserve in Washington.(Reuters File Photo)
A police officer keeps watch in front of the US Federal Reserve in Washington.(Reuters File Photo)

Fed’s Williams sees about three years for full US recovery

By Reuters | Posted by Kanishka Sarkar
UPDATED ON SEP 29, 2020 11:21 PM IST
“We want to get back to maximum employment as soon as possible,” New York Fed President John Williams said.
Investors are looking for more than dovish comments from Fed chairman Jerome Powell to keep the rally going.(AP File Photo)
Investors are looking for more than dovish comments from Fed chairman Jerome Powell to keep the rally going.(AP File Photo)

Fed’s shift is temporary boon for emerging market central banks

By Bloomberg | Posted by Kanishka Sarkar
UPDATED ON AUG 31, 2020 07:18 AM IST
Unlike the Fed, central banks in developing markets can’t allow inflation to run hot without triggering capital flight and currency turmoil. Food-price spikes are already a problem in countries like India and Turkey.
A customer orders takeout food inside one of Harlem's most iconic businesses, Sylvia's Restaurant, following the outbreak of the coronavirus disease (Covid-19) in Manhattan in New York City, New York.(Reuters Photo)
A customer orders takeout food inside one of Harlem's most iconic businesses, Sylvia's Restaurant, following the outbreak of the coronavirus disease (Covid-19) in Manhattan in New York City, New York.(Reuters Photo)

US economic activity increased, outlook ‘highly uncertain’: Fed

Washington | By Agence France-Presse | Posted by Kanishka Sarkar
UPDATED ON JUL 16, 2020 12:24 AM IST
Businesses began to reopen, and retail sales improved across the country, but there were some new layoffs and employment, too, is far below where it was before Covid-19 struck, the Federal Reserve report said.
The US economy slipped into recession in February and economic output and employment are still far below pre-crisis levels despite a rebound as restrictions were eased.(AFP file photo)
The US economy slipped into recession in February and economic output and employment are still far below pre-crisis levels despite a rebound as restrictions were eased.(AFP file photo)

Covid-19: Federal Reserve revisits idea of pledging to keep interest rates low

Washington | By Reuters| Posted by: Harshit Sabarwal
PUBLISHED ON JUL 02, 2020 09:06 AM IST
The policymakers “generally indicated support” for tying rate-setting policy to specific economic outcomes, minutes from the US central bank’s June 9-10 policy meeting showed on Wednesday. “A number” favored a promise to leave rates low until inflation meets or even modestly exceeds the Fed’s 2% goal.
The pace of recovery in oil prices is likely to slow as the steepest decline in supply and the fastest improvement in demand is probably behind the market, Barclays Plc said in a note Friday.(Reuters File Photo)
The pace of recovery in oil prices is likely to slow as the steepest decline in supply and the fastest improvement in demand is probably behind the market, Barclays Plc said in a note Friday.(Reuters File Photo)

Oil falls for a third day with second-wave coronavirus risks in focus

By Bloomberg | Posted by Kanishka Sarkar
UPDATED ON JUN 15, 2020 08:14 AM IST
Crude oil’s six-week rally came to a halt last week amid concerns the worst of the virus isn’t over yet and as the Federal Reserve warned the pandemic could inflict lasting damage on the American economy.
Small company stocks continued to bear the brunt of the selling, a signal that investors are becoming more pessimistic about a broad recovery in the economy.(Reuters File Photo)
Small company stocks continued to bear the brunt of the selling, a signal that investors are becoming more pessimistic about a broad recovery in the economy.(Reuters File Photo)

Dow sinks 1,600 points as Covid-19 cases rise in US, deflating optimism

New York | By Associated Press | Posted by Kanishka Sarkar
UPDATED ON JUN 12, 2020 01:45 AM IST
The Federal Reserve dimmed some of the optimism investors have had about a swift economic rebound Wednesday, warning that the road to United States’ recovery from the worst downturn in decades due to the Covid-19 pandemic would be long.
Global production cuts and the easing of lockdowns in some countries has pushed prices higher after oil plunged below zero in April.(AFP file photo. Representative image)
Global production cuts and the easing of lockdowns in some countries has pushed prices higher after oil plunged below zero in April.(AFP file photo. Representative image)

Oil slips below $39 after US crude stockpiles expand to record

By Bloomberg
PUBLISHED ON JUN 11, 2020 11:29 AM IST
Futures lost 3.2% to drop below $39 a barrel, erasing all of the gains from the previous session. US crude inventories unexpectedly rose last week, even as oil production fell, while gasoline stockpiles also saw a surprise expansion.
The desire for the market outperforming returns at all times has seemingly meant an unwillingness for investment in solid, useful, economy-enhancing plays, which pay 3-4% above the cost of capital but do not provide dramatic pay-offs(Getty Images/iStockphoto)
The desire for the market outperforming returns at all times has seemingly meant an unwillingness for investment in solid, useful, economy-enhancing plays, which pay 3-4% above the cost of capital but do not provide dramatic pay-offs(Getty Images/iStockphoto)

Corporate managers must rise to the challenge

By Govind Sankaranarayanan
UPDATED ON JUN 03, 2020 06:38 PM IST
Change lending practices; take risks; review investment criteria; align goals with national reconstruction
U.S. Federal Reserve Chairman Jerome Powell(Reuters File)
U.S. Federal Reserve Chairman Jerome Powell(Reuters File)

US economy may begin to recover by summer, will likely be slow: Federal Reserve Chairman

Washington | By Associated Press
UPDATED ON MAY 18, 2020 06:17 AM IST
US Federal Reserve chairman Jerome Powell offered an overall positive message while warning that it would take much longer for the economy to regain its health than it took for it to collapse with stunning speed.
US Federal Reserve Chairman Jerome Powell after the Federal Reserve cut interest rates in an emergency move designed to shield the world's largest economy from the impact of the coronavirus.(Reuters Photo)
US Federal Reserve Chairman Jerome Powell after the Federal Reserve cut interest rates in an emergency move designed to shield the world's largest economy from the impact of the coronavirus.(Reuters Photo)

Fed signals it will likely hold short-term interest rate near zero for months

Washington | By Associated Press
UPDATED ON APR 30, 2020 08:30 AM IST
Federal Reserve chairman Jerome Powell said he believed the viral outbreak would imperil the economy for potentially a year or more, particularly if a vaccine or an effective treatment isn’t developed before then.
The coronavirus outbreak across the globe has infected 175,000 people and causing nearly 6,700 fatalities in less than three months.(PTI)
The coronavirus outbreak across the globe has infected 175,000 people and causing nearly 6,700 fatalities in less than three months.(PTI)

Policy, fiscal support to virus-hit sectors likely

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON MAR 17, 2020 05:46 AM IST
On Monday, the wholesale price index (WPI) based inflation was pegged at 2.26% for February but the retail inflation is still outside RBI’s comfort zone of 6% at 6.58%.
The seal for the Board of Governors of the Federal Reserve System is displayed in Washington, U.S.(REUTERS)
The seal for the Board of Governors of the Federal Reserve System is displayed in Washington, U.S.(REUTERS)

US Federal Reserve slashes key interest rate, rolls out massive response to coronavirus

Washington | By Agence France-Presse
UPDATED ON MAR 16, 2020 10:50 AM IST
The US Fed made its second emergency rate cut in less than two weeks, lowering the benchmark borrowing rate to a range of 0-0.25 percent, and pledged to keep it there “until it is confident that the economy has weathered recent events.”
With markets reeling from the coronavirus outbreak, the Fed last week made its first emergency rate cut since 2008, slashing the key interest rate by a half point to a range of 1.0-1.25 percent.(REUTERS)
With markets reeling from the coronavirus outbreak, the Fed last week made its first emergency rate cut since 2008, slashing the key interest rate by a half point to a range of 1.0-1.25 percent.(REUTERS)

As coronavirus hits, US inflation largely absent in February

Washington | By Agence France-Presse
UPDATED ON MAR 11, 2020 07:38 PM IST
The increase in the seasonally adjusted consumer price index of just 0.1 percent shows inflation is not a concern for the world’s largest economy, and bolsters the US Federal Reserve’s aversion to high interest rates.
Shanghai led gainers, rising more than two percent after dropping more than five percent last week, while Hong Kong was up 0.7 percent after a loss of around four percent.(REUTERS Image for representation purpose))
Shanghai led gainers, rising more than two percent after dropping more than five percent last week, while Hong Kong was up 0.7 percent after a loss of around four percent.(REUTERS Image for representation purpose))

Most Asia markets rise as bargain-hunting offsets coronavirus fears

Hong Kong | By Agence France-Presse
UPDATED ON MAR 02, 2020 01:05 PM IST
After equities suffered their worst week since the financial crisis more than a decade ago, central banks began to flag support measures, with Federal Reserve boss Jerome Powell hinting at a fresh interest rate cut at the bank’s next meeting.
(Mint)
(Mint)

Global economy in better place after fed cuts, trade progress: Ex-RBI governor Raghuram Rajan

Bloomberg | By Anirban Nag
UPDATED ON NOV 07, 2019 12:51 PM IST
On the trade deal, Raghuram Rajan said there’s some progress, but it will not be a permanent solution and won’t be something that many people want to see.
U.S. employers added a solid 128,000 jobs in October(Sanchit Khanna/HT PHOTO)
U.S. employers added a solid 128,000 jobs in October(Sanchit Khanna/HT PHOTO)

US added a solid 128,000 jobs in October despite GM strike

Washington | By Associated Press
PUBLISHED ON NOV 01, 2019 07:19 PM IST
The unemployment rate ticked up from 3.5% to 3.6%, still near a five-decade low. And for a second straight month, average hourly wages rose a decent if less-than-robust 3% from a year ago.
Many investors have hinted that it was a good opportunity to get back into the bond market if one haven’t had the chance to accumulate.(AP photo)
Many investors have hinted that it was a good opportunity to get back into the bond market if one haven’t had the chance to accumulate.(AP photo)

The bond market is dialing back, just a bit, on recession gloom

Bloomberg | By Tian Chen and Livia Yap
UPDATED ON OCT 30, 2019 08:16 AM IST
An investment strategist stated that while investors were panicking about the trade war, global growth and Brexit in the summer , they have now realized that the situations were not that bad.
History shows that elevated gold prices result in higher levels of recycling.(Image for representation purpose)
History shows that elevated gold prices result in higher levels of recycling.(Image for representation purpose)

Why increasing gold prices would be bad news for diamonds

Bloomberg | By Yuliya Fedorinova
UPDATED ON SEP 11, 2019 10:22 AM IST
Citi’s bullish scenario for gold is based on drivers including the prospect of the Federal Reserve cutting interest rates to zero, rising risks of a global recession and heightened geopolitical tensions.
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