Page 17 - Us Economy
Fed rolls out bond-buying 'taper,' holds to 'transitory' inflation belief
Even in announcing a $15 bn monthly cut to its $120 bn in monthly purchases of Treasuries and mortgage-backed securities, the Fed did not signal when it may begin next phase of policy 'normalisation'
 "Fed rolls out bond-buying 'taper,' holds to 'transitory' inflation belief")
US federal reserve's main inflation gauge hits 30-year high in September
The Commerce Department said consumer spending, which accounted for 70% of all US economic activity, grew by a dormant 0.6% as well in September
 "US federal reserve's main inflation gauge hits 30-year high in September")
US economy grows at an annual rate of 2.0% in Q3 amidst delta surge
"Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased."
 "US economy grows at an annual rate of 2.0% in Q3 amidst delta surge")
US growth rate slows to 2% on Delta surge, supply chain worries
Shortages, transportation bottlenecks, rising prices and the delta variant of the coronavirus weighed on both goods and services spending
 "US growth rate slows to 2% on Delta surge, supply chain worries")
Global stocks fall, gold gains as US economic growth slows sharply
The MSCI All World Stock Index was down 0.06% at 741.31 points, barely below its lifetime high of 749.16 points hit last month
 "Global stocks fall, gold gains as US economic growth slows sharply")
US economy slows sharply in Q3; weekly jobless claims at new 19-month low
Strong inflation, fueled by the economy-wide shortages and pandemic relief money from the government over the course of the public health crisis, cut into growth
 "US economy slows sharply in Q3; weekly jobless claims at new 19-month low")
US new home sales hit six-month high; median price stays above $400,000
New home sales jumped 14.0% to a seasonally adjusted annual rate of 800,000 units last month, the highest level since March
 "US new home sales hit six-month high; median price stays above $400,000")
The revenge of supply
One underlying problem today is the intersection of labour shortages and Americans who are not even looking for jobs
US budget deficit hits $2.77 trillion in 2021, the second highest
The deficits in both years reflect trillions of dollars in government spending to counteract the devastating effects of a global pandemic
 "US budget deficit hits $2.77 trillion in 2021, the second highest")
US consumer prices outpace forecast as inflation dogs economy
A combination of unprecedented shipping challenges, materials shortages, high commodities prices and rising wages have sharply driven up costs for producers
House sends short-term debt limit hike to Joe Biden, staving off default
Members of the House pushed through a short-term increase to the nation's debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting default
Goldman Sachs Group cuts US growth forecasts for 2021 and 2022
Goldman's team, led by Jan Hatzius, said in a report on Sunday that they now expect growth of 5.6% on an annual basis in 2021 versus their previous estimate of 5.7%, and 4% next year, down from 4.4%
 "Goldman Sachs Group cuts US growth forecasts for 2021 and 2022")
Dollar steady after jobs miss as taper hopes remain intact
September's employment report is the last one available before the Federal Reserve's Nov. 2-3 policy meeting.
 "Dollar steady after jobs miss as taper hopes remain intact")
US futures tumble as soaring energy prices fuel inflation worries
Growth stocks lead declines; American Airlines, Nucor fall on Goldman Sachs' downgrades
 "US futures tumble as soaring energy prices fuel inflation worries")
US 30-year yield rises to highest since June as inflation fear grows
The benchmark 30-year yield jumped to 2.12% in early Tokyo trade, extending its advance from last month's low of 1.81%
 "US 30-year yield rises to highest since June as inflation fear grows")
US consumer confidence falls to 7-month low on Delta variant fears
The Conference Board's index fell to 109.3 from a revised 115.2 reading in August, according to the group's report Tuesday.
 "US consumer confidence falls to 7-month low on Delta variant fears")
Fed can't protect markets in case of default, says Jerome Powell
"The failure to do that is something that could result in severe damage to the economy and to financial markets and it's just not something we should contemplate," he said
 "Fed can't protect markets in case of default, says Jerome Powell")
Fed policymakers see upward march in interest rates starting next year
(Reuters) -Half of U.S. Federal Reserve policymakers now expect to start raising interest rates next year and think borrowing costs should increase to at least 1% by the end of 2023, reflecting a growing consensus that gradually tighter policy will be needed to keep inflation in check.
 "Fed policymakers see upward march in interest rates starting next year")
Fed signals bond-buying taper may start soon, split on 2022 hike
US stocks rose slightly, while yields on 10-year Treasuries maintained an earlier decline; the dollar remained lower after the decision
 "Fed signals bond-buying taper may start soon, split on 2022 hike")
Janet Yellen renews call to raise debt limit to avoid 'catastrophe'
"Neither delay nor default is tolerable" and lawmakers must act quickly, Yellen added
 "Janet Yellen renews call to raise debt limit to avoid 'catastrophe'")
