Page 14 - Us Economy
US economy grows at annualised 6.9% in the fourth quarter of 2021
The US economy grew at an annual rate of 6.9% in the fourth quarter of 2021 amid a surge in inventories, the Commerce Department reported.
 "US economy grows at annualised 6.9% in the fourth quarter of 2021")
US economy regained speed in Q4 at 6.9%, 2021 growth best since 1984
The economy grew 5.7% in 2021, the strongest since 1984. It contracted 3.4% in 2020, the biggest drop in 74 years
 "US economy regained speed in Q4 at 6.9%, 2021 growth best since 1984")
US yields rise, Asian shares, European futures tumble on inflation warning
SHANGHAI (Reuters) - Asian shares plunged to their lowest in nearly 15 months, short-term U.S. yields hit 23-month highs and the dollar strengthened on Thursday after the Federal Reserve's chairman signalled plans to steadily tighten policy.
 "US yields rise, Asian shares, European futures tumble on inflation warning")
Biden to urge mayors to spend more Covid-19 aid to build city workforces
US president will call to spend more on worker training programs, apprenticeships, education and child care.
 "Biden to urge mayors to spend more Covid-19 aid to build city workforces")
Biden pledges to 'get inflation under control' as his approval rating slips
US President Joe Biden has pledged to "get inflation under control" as American voters were increasingly pessimistic about the economy
 "Biden pledges to 'get inflation under control' as his approval rating slips")
US economy has never worked fairly for Black Americans: Janet Yellen
US Treasury Secretary Janet Yellen said that the country's economy "has never worked fairly for Black Americans" and there is much more work needed to be done to narrow racial wealth gap
 "US economy has never worked fairly for Black Americans: Janet Yellen")
Wells Fargo Q4 profit beats estimates on cost cuts, loan demand
(Reuters) -Wells Fargo & Co on Friday beat analysts' estimates for fourth-quarter profit as a rebound in U.S. economic growth encouraged more customers to take loans and the bank kept a tight lid on costs.
 "Wells Fargo Q4 profit beats estimates on cost cuts, loan demand")
With inflation at 40-year high, US central bankers consider March rate hike
US central bankers are coalescing around a plan to start tapping the brakes on economic growth as soon as March, with further monetary policy tightening likely as the year goes on
 "With inflation at 40-year high, US central bankers consider March rate hike")
Dollar slumps as US inflation surge comes in line with expectations
The U.S. Dollar Currency Index, which tracks the greenback against six major currencies, was down 0.7% at 94.944, after slipping as low as 94.903, its lowest since Nov. 11.
 "Dollar slumps as US inflation surge comes in line with expectations")
Confidence in faster global recovery in short supply: WEF report
Report also says livelihood crises, climate change will dominate global concerns
 "Confidence in faster global recovery in short supply: WEF report")
Dollar rises as employment data prompts banks to raise Fed rates estimate
The dollar edged higher against a basket of currencies on Monday as recent employment data prompted some Wall Street banks to raise their estimates for Federal Reserve interest rates
 "Dollar rises as employment data prompts banks to raise Fed rates estimate")
US stocks fall further amid concerns over Fed interest rate hikes
US stocks fell on Monday despite staging a comeback late in the day, as bets that the U.S. Federal Reserve could raise interest rates
 "US stocks fall further amid concerns over Fed interest rate hikes")
Goldman Sachs expects four US Fed hikes, sees faster runoff in 2022
The Federal Reserve will likely raise interest rates four times this year and will start its balance sheet runoff process in July, if not earlier, according to Goldman Sachs Group Inc.
 "Goldman Sachs expects four US Fed hikes, sees faster runoff in 2022")
Joe Biden to deliver first State of the Union address on March 1
The speech is normally timed for January, and occasionally for February
US job growth seen accelerating in Dec; record employment likely in 2021
The Labor Department's closely watched employment report on Friday is also expected to show the jobs market rapidly tightening, with the unemployment rate seen falling to a 22-month low in November
 "US job growth seen accelerating in Dec; record employment likely in 2021")
Fed Reserve's 'maximum employment' is here; not everyone has benefited
Since adopting a new approach to US monetary policy weighted towards ensuring a strong labor market, Federal Reserve officials have been reluctant to define key terms like "maximum employment"
US trade deficit widens sharply in November to $80.2 bn as imports surge
The US trade deficit widened sharply to $80.2 billion in November 2021 as imports surged, the Commerce Department reported.
 "US trade deficit widens sharply in November to $80.2 bn as imports surge")
Dollar riding high against Yen on hike bets ahead of payrolls report
The dollar is set to notch up a fifth consecutive weekly gain on the Japanese yen and looks poised to extend the rally
Biden's disapproval rating hits new high over Covid, economy: Poll
Biden's overall disapproval rating touched a new high in December 2021, as more Americans have voiced disapproval of his administration's handling of the raging Covid pandemic, the faltering economy
 "Biden's disapproval rating hits new high over Covid, economy: Poll")
Federal Reserve may need to hike rates faster, reduce balance sheet quickly
The minutes, which were released on Wednesday, offered more details on the Fed's shift last month towards a more hawkish monetary policy.
 "Federal Reserve may need to hike rates faster, reduce balance sheet quickly")
