Page 3 - Us Economy

Joe Biden says 'it is going to take time' for inflation to recede

US President Joe Biden cautioned on Friday that "it is going to take time" for inflation to recede, but he offered fresh assurance that legislation he signed earlier this year will soon help limit costs for health care and energy. He made the remarks while meeting with business and labour leaders in his first public event since returning from an around-the-world trip to Egypt, Cambodia and Indonesia. Biden has been encouraged by the Democrats' stronger-than-expected performance in the midterm elections, but he could be entering a perilous stretch when it comes to the economy. The White House has emphasised a strong jobs market to try to allay concerns about a potential recession. However, the Federal Reserve continues to try to slow economic growth by raising interest rates to battle inflation. It is a delicate situation that Biden will be navigating amid turnover in his economic team. Cecilia Rouse, a labour economist who became the first Black woman to lead the Council of Economi

Why optimism on India's present does not extend much beyond visible horizon

Structural unemployment problem, social unrest, poor state of education and health care, and nutrition deficits among children - tomorrow's workforce - temper optimism on India, writes T Ninan

US Federal Reserve open to 50-bp hike at December policy meeting

"It is way too early to conclude that inflation is headed sustainably down," Christopher Waller, US Federal Reserve Governor

Dollar bounces as US economy sends mixed signals; sterling slips

The euro was down 0.33% against the dollar at $1.036 at 1045 GMT, after hitting its highest level since July at $1.048 on Tuesday

Handling external shocks

Following the US Fed's monetary policy lead is not in the interest of emerging economies

US not near recession, needs more time to cool prices: US president Biden

'We're not anywhere near a recession right now, in terms of the growth,' said Biden at the White House on Wednesday

Peak in bond yields that appeared close has now vanished from sight

For the moment, investors remain convinced that the Fed is on a course that ultimately will bring the economy to its knees

Sensex atop Mt 61,000, just 1% away from fresh the all-time highs

Benchmark indices gained in 11 of the past 12 trading sessions

US job openings hit 10.7 mn despite Fed Reserve's attempt to cool economy

US job openings rose unexpectedly in September, suggesting that the American labour market is not cooling as fast as the inflation fighters at the Federal Reserve hoped. Employers posted 10.7 million job vacancies in September, up from 10.3 million in August, the Labour Department said on Tuesday. Economists had expected the number of job openings to drop below 10 million for the first time since June 2021. For the past two years, as the economy rebounded from 2020's COVID-19 recession, employers have complained they can't find enough workers. With so many jobs available, workers can afford to resign and seek employment that pays more or offers better perks or flexibility. So companies have been forced to raise wages to attract and keep staff. Higher pay has contributed to inflation that has hit 40-year highs in 2022. In another sign the labor market remains tight and employers unwilling to let workers go, layoffs dropped in September to 1.3 million, fewest since April. But the num

FPIs regain risk appetite, pump in nearly Rs 8,430 crore in October

US and European markets gained in October after a sharp sell-off in September

A roller-coaster ride: FPIs propel Nifty to reclaim 18K; Sensex tops 60K

The Sensex ended above 60,000 and the Nifty above 18,000 for the first time since September 14

Strong dollar seen hurting US economic outlook, even tilting Fed path

Chair Jerome Powell and his colleagues are trying to cool the economy and ease price pressures by deliberately tightening US financial conditions

US economy rebounds as businesses and consumers show resilience

Records first increase this year at 2.6%, following two quarterly contractions

US President Biden zeroes in on economic message as campaign winds down

President Joe Biden is zeroing in on a largely economic-focused message amid raging inflation and recession risks as he takes his closing argument for the November midterm elections to a hotly contested congressional battleground on Thursday and tries to reassure restive voters around the country. Biden's travels to Syracuse, New York, on Thursday and to Philadelphia on Friday are part of a strategic two-step crafted for a persistently unpopular president: Promote his administration's accomplishments at official White House events while saving the overt campaigning for states where his political power can directly bolster Democratic candidates. The White House of late has paid outsize attention to Pennsylvania, where Democrats are aggressively contesting a Republican-held Senate seat to help offset potential losses in other marquee Senate races. Publicly, the White House and senior Democratic leaders express optimism that they'll defy traditional midterm headwinds and retain control

US economy likely returned to growth, after shrinking in 2 quarters

The problems have hardly gone away. Inflation, still near a 40-year high, is punishing households. Rising interest rates have derailed the housing market and threaten to inflict broader damage. And the outlook for the world economy grows bleaker the longer that Russia's war against Ukraine drags on. But for now anyway, the USD economy has likely returned to growth after having shrunk in each of the first two quarters of 2022. At least that's what economists expect to see on Thursday when the Commerce Department issues its first of three estimates of gross domestic product the broadest measure of economic output for the July-September period. Economists surveyed by the data firm FactSet have predicted, on average, that GDP grew at a 2 per cent annual rate in the third quarter. That would reverse annual declines of 1.6 per cent from January through March and 0.6 per cent from April through June. Consecutive quarters of declining economic output are one informal definition of a ..

Would a championship win for Phillies be a good thing for US economy?

Would a championship win for the Philadelphia Phillies be a good thing for the nation's economy?

Caught in global maelstrom, rupee, govt bonds likely to weaken further

The key factors that have wreaked havoc on fixed-income and currency markets are the Russian invasion of Ukraine and the US Fed's decision to embark upon the most aggressive monetary tightening cycle

Joe Biden brushes off risks of strong dollar on global economy

The dollar has climbed roughly 15% this year as the Federal Reserve embarked on an aggressive campaign to raise interest rates to tamp US price increases.

Plastic pollution in US could trigger $20 bn in payouts over next 8 yrs

Litigation could cost the plastics industry and its insurers $20 billion in the US over the next eight years, according to a report backed by the United Nations and an Australian billionaire

'Soft landing' is unlikely for US economy, says JP Morgan's Jamie Dimon

Jamie Dimon said the Federal Reserve probably can't cool the red-hot economy without bringing on a recession.