Tag: US

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

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.

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.

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. 

The United States is working to build resilient, diversified clean energy supply chains to protect its economic security, while guarding against the risks posed by over-concentration in a handful of countries, U.S. Treasury Secretary Janet Yellen said in remarks prepared for an event in Las Vegas on Monday.

A measure of wholesale prices rose more than expected in July, countering recent trends showing that inflation pressures are easing.

U.S. moves to ban certain investment in China suggest that Western allies may be learning from national security failings in Russia, analysts told CNBC.

The consumer price index rose 3.2% from a year ago in July, a sign that inflation has lost at least some of its grip on the U.S. economy.

Moody’s cut the credit ratings of a host of small and mid-sized U.S. banks late Monday and placed several big Wall Street names on negative review.

The US economy created 187,000 new jobs in July while the unemployment rate fell to 3.5%, the Bureau of Labor Statistics said Friday. Economists had expected job gains to total 200,000 with the unemployment remaining unchanged at 3.6%.

The number of Americans who applied for unemployment benefits last week rose slightly to 227,000 from a five-month low, offering more evidence that layoffs are low and the labor market remains robust.

Private-sector employment jumped by 324,000 in July, payroll processor ADP said, as businesses hired more workers to keep up with rising demand for their goods and services.

Mortgage rates have been holding at high levels for several weeks now, and that is taking its toll on homebuyers.

Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago.

Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely.

The U.S. employment cost index, the broadest measure of U.S. labor costs, rose 1% in the second quarter after gaining 1.2% in the first quarter, the Labor Department said Friday.

The U.S. economy showed few signs of recession in the second quarter, as gross domestic product grew at a faster than expected pace during the period, the Commerce Department reported Thursday.

WASHINGTON, July 26 (Reuters) – The Federal Reserve is expected to raise interest rates by a quarter of a percentage point on Wednesday, marking the 11th hike in the U.S. central bank’s past 12 policy meetings and possibly a last move in its aggressive battle to tame inflation.

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Goldman Sachs forecasts “all-time high” demand in oil markets leading to a “sizeable deficit.”

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Goldman Sachs revised down the odds of a U.S. recession happening in the next 12 months, cutting the probability down to 20% from 25% on the back of positive economic activity.