Tag: US

Durable-goods orders climb on higher defense spending

The numbers: Orders for long-lasting goods rose a stronger-than-expected 0.2% in August, but the increase mostly stemmed from higher defense spending as the U.S. sought to replenish military hardware sent to Ukraine.

Shutdown countdown: US Congress has four days to fund government

WASHINGTON, Sept 27 (Reuters) – The fourth partial shutdown of the U.S. government in a decade was four days away on Wednesday, with House Republicans preemptively rejecting a bipartisan bill advancing in the Senate that would fund agencies through mid-November.

Jamie Dimon on interest rates: ‘I am not sure the world is prepared for 7%’

Going from zero to 2% was almost no increase. Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%.

A Government Shutdown Is Just Days Away. What’s at Stake.

The federal government is barreling toward a shutdown.

US finalizes rules to prevent China from benefiting from $52 billion in chips funding

The U.S. Commerce Department on Friday is issuing final rules to prevent semiconductor manufacturing subsidies from being used by China and other countries deemed to pose American national security concerns.

UAW Strike Announcement Today Could Escalate Battle Between Workers, Car Makers

The UAW is threatening to expand its strike on Friday against Big Three automakers General Motors , Ford Motor , and Chrysler parent Stellantis STLA , and many observers are assuming it’s a done deal. 

August wholesale inflation rises 0.7%, hotter than expected

Inflation at the wholesale level rose more than expected in August, countering recent data showing that price increases have tempered lately.

August core inflation, excluding food and energy, rose 0.3%, hotter than expected

Inflation posted its biggest monthly increase this year in August as consumers faced higher prices on energy and a variety of other items.

U.S. jobless claims fall to 216,000, lowest level since February

Initial jobless claims fell by 13,000 to 216,000 in the week ended Sept. 2, the Labor Department said Thursday. This is the lowest level since mid-February.

Fed’s Collins says policymakers can ‘proceed cautiously’ on future rate hikes

Boston Federal Reserve President Susan Collins on Wednesday advocated a patient approach to policymaking while saying she needs more evidence to convince her that inflation has been tamed.

Goldman Sachs Is More Optimistic Than Most About U.S. Growth. Here’s Why.

For the third time since June, Investment bank Goldman Sachs GS –0.09% lowered the odds on a recession hitting the U.S. in the next 12 months.

Payrolls rose by 187,000 in August, unemployment rate rises to 3.8%

The U.S. added more jobs than expected in August, a sign of resilience for a labor market under pressure from Federal Reserve interest rate hikes.

China says drop in trade with the U.S. is ‘a direct consequence of U.S. moves’

China’s ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries.

U.S. job growth slowed sharply to 177,000 in August, below expectations, ADP says

Job creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might be starting to ease under pressure from higher interest rates.

Fed Chair Powell calls inflation ‘too high’ and warns that ‘we are prepared to raise rates further’

Federal Reserve Chair Jerome Powell on Friday called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come.

Recession Fears Have Been ‘Blown Out of the Water,’ Long-Serving Fed President Says

James Bullard, who was the longest tenured of the 12 regional Federal Reserve Bank presidents when he stepped down last month, thinks the U.S. economy faces new risks of stronger growth that could require higher interest rates to keep up the fight against inflation in the months ahead.

U.S. Commerce secretary set to visit China next week as high-level talks continue

U.S. Secretary of Commerce Gina Raimondo is set to visit China from Aug. 27 to 30, both countries announced Tuesday.

China is considering countermeasures to Biden’s executive order

China’s Ministry of Commerce signaled Thursday it would respond, if needed, to the Biden administration’s executive order to restrict U.S. investments in advanced Chinese technology.

Retail sales increased 0.7% in July, better than expected as consumer spending is holding up

Consumer spending held up well in July as inflation slowed, with retail sales turning in a stronger than expected showing for the month, the Commerce Department reported Tuesday.

Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase

A Fitch Ratings analyst warned that the U.S. banking industry has inched closer to another source of turbulence — the risk of sweeping rating downgrades on dozens of U.S. banks that could even include the likes of JPMorgan Chase.