Tag: US

U.S. employers hired far more workers than expected March while raising wages, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated interest rate cuts from the Federal Reserve this year.

Companies added 184,000 workers on the month, an increase from the upwardly revised February gain of 155,000, according to payrolls processing firm ADP.

The final reading of U.S. growth in the 2023 fourth quarter was raised a few notches to a 3.4% annual pace, reflecting a surprisingly resilient U.S. economy.

Factory orders in the U.S. rebounded in February with a 1.4% gain and business investment also rose sharply in perhaps an early sign of revival in the manufacturing side of the economy.

The Francis Scott Key Bridge partially collapsed in the early hours of Tuesday morning following a ship collision, local authorities said.

President Joe Biden on Saturday signed a $1.2 trillion funding bill that averted a partial government shutdown, after the package won approval in the Republican-controlled House of Representatives on Friday and in the Democratic-controlled Senate after midnight Saturday.

Wholesale prices accelerated at a faster than expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy.

The U.S. House of Representatives plans to vote on a bill on Wednesday that would give TikTok’s Chinese owner ByteDance about six months to divest the U.S. assets of the short-video app used by about 170 million Americans or face a ban.

Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates.

The U.S. added 275,000 nonfarm jobs in February, according to Bureau of Labor Statistics data released Friday.

The U.S. House of Representatives will fast-track a vote next week on legislation that would give China’s ByteDance six months to divest from short video app TikTok or face a U.S. ban after a committee unanimously approved the measure Thursday.

A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve, or SPR.

Inflation rose in line with expectations in January, according to an important gauge the Federal Reserve uses as it deliberates cutting interest rates.

The growth of the U.S. economy in the fourth quarter was downgraded slightly to a 3.2% annual pace, reflecting somewhat slower buildup of inventories or unsold goods.

Wholesale prices rose more than expected in January, further complicating the inflation picture, according to a Labor Department report Friday.

Retail sales were expected to decline 0.3% in January, according to economists surveyed by Dow Jones.

Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday.

The prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday.

The number of Americans who applied for unemployment benefits in the first week of February fell by 9,000 to 218,000 and indicated that layoffs remain extremely low.

New York Community Bancorp is attempting to reassure investors about its deposits, liquidity, and governance following a week-long plunge in the company’s stock and a decision by Moody’s to cut the bank’s credit rating to junk.