Page 13 - Us Economy
President Biden appeals for big cash infusion to US semiconductor industry
President Joe Biden has appealed for a big cash infusion to America's semiconductor industry amid an acute chip shortage, including in India
 "President Biden appeals for big cash infusion to US semiconductor industry")
As Ukraine conflict rages, Biden seeks to unite Americans in annual speech
Biden intends to use the annual speech to stress the importance of countering Putin and push his domestic economic agenda
 "As Ukraine conflict rages, Biden seeks to unite Americans in annual speech")
US consumer spending beats expectations in January; inflation rises further
The rebound in spending could further temper expectations for a sharp slowdown in economic growth in the first quarter
 "US consumer spending beats expectations in January; inflation rises further")
US weekly jobless claims fall; Q4 GDP growth revised slightly up
Initial claims for state unemployment benefits decreased 17,000 to a seasonally adjusted 232,000 for the week ended Feb.19, the Labor Department said on Thursday
 "US weekly jobless claims fall; Q4 GDP growth revised slightly up")
Wall Street enters correction territory as Ukraine crisis escalates
The S&P 500 has entered correction territory, as investors reacted to Russian President Vladimir Putin's decision to order troops to breakaway regions of Ukraine, escalating tensions and raising fears of a full-scale invasion, Market Watch reported.
 "Wall Street enters correction territory as Ukraine crisis escalates")
Biden may issue executive order on regulating cryptos this week: Report
The Biden administration had in September last year, released recommendations proposing that only banks be allowed to issue stablecoins
 "Biden may issue executive order on regulating cryptos this week: Report")
Top Fed officials back March liftoff as consensus takes shape
The remarks on Friday by Governor Lael Brainard and New York Fed President John Williams, as well as Chicago Fed chief Charles Evans, showed officials eager to get tightening under way
 "Top Fed officials back March liftoff as consensus takes shape")
Federal Reserve rate decisions will be made on meeting-by-meeting basis
Investors currently expect the Fed to begin raising rates in March with an initial increase of half a percentage point, and to continue raising rates through the year
US retail sales rebound sharply to increase 3.8% in January: Govt data
December retail sales revised to show steeper decline; core retail sales jump 4.8%
 "US retail sales rebound sharply to increase 3.8% in January: Govt data")
US: January wholesale inflation surged 9.7% from a year ago
Wholesale inflation in the United States surged again last month, rising 9.7% from a year earlier in a sign that price pressures remain high at all levels of the economy.
 "US: January wholesale inflation surged 9.7% from a year ago")
Now, Goldman expects 7 US Federal Reserve rate hikes in 2022
The bank sees a 25 basis-point hike in each of the remaining meetings this year
 "Now, Goldman expects 7 US Federal Reserve rate hikes in 2022")
US inflation highest in four decades at 7.5%, with no letup in sight
The latest inflation data suggested to some economists that the Fed could raise its key rate in March by one-half a percentage point, rather than its typical quarter-point hike.
US inflation hits new 40-year high in Jan; stocks fall; bond yield rises
The acceleration of prices ranged across the economy, from food and energy to apartment rents and electricity
 "US inflation hits new 40-year high in Jan; stocks fall; bond yield rises")
Dollar posts solid gains after higher-than-expected US CPI data in Jan
CPI rose 0.6% last month from December, the Labor Department said, while in the 12 months through January, the CPI jumped 7.5%, the biggest year-on-year increase since February 1982
 "Dollar posts solid gains after higher-than-expected US CPI data in Jan")
US farming takes a hit, highly pathogenic bird flu is found in turkey farm
China and Korea block non-heated poultry meat from Indiana, while Taiwan restricts poultry meat from the state.
 "US farming takes a hit, highly pathogenic bird flu is found in turkey farm")
White House hopeful of deal with Congress on climate, social spending
Official says the administration is optimistic about President Joe Biden's signature 'Build Back Better' proposal given the degree of alignment seen on issues
Dollar recovers from two-week low after US employment surprise
But the dollar was still down 1.7% on the week, on pace for its largest weekly percentage decline since November 2020.
 "Dollar recovers from two-week low after US employment surprise")
Gold prices firm as dollar slides in run-up to US jobs data
Spot gold edged up 0.1% to $1,806.83 per ounce by 0526 GMT. U.S. gold futures gained 0.2% to $1,807.80
 "Gold prices firm as dollar slides in run-up to US jobs data")
Fed nominees say inflation is 'grave threat' to US growth, vow to fight
Consumer prices rose 7% last near--more than twice the central bank's 2% goal--cheapening American wages and eating into household budgets.
Dollar slides for 2nd day after weak US data, Fed's cautious rate comments
The dollar fell for a second straight session on Tuesday, after hitting a 19-month peak at the end of last week
