Page 4 - Us Economy

Core US inflation rises to 40-year high in Sept, securing big Fed hike

In the 12 months through September, the CPI increased 8.2% after rising 8.3% in August.

At 82.34, rupee ends marginally weaker ahead of US inflation test

The rupee ended at 82.3450, compared with its previous close of 82.3150, after trading in a narrow range through the session

Gold treads water as traders await direction from US inflation data

The US Consumer Price Index (CPI) data due at 1230 GMT is forecast to come in at a hot 8.1% year-on-year in September

Joe Biden's 'slight' recession would mean economic pain for millions

Economic contractions -- even modest ones -- traditionally lead to markedly higher unemployment as companies slash their payrolls by millions of workers in response to lower demand

Americans to pay the most in 25 years to stay warm during this winter

Prices for natural gas and distillate -- which includes heating oil -- are both seen rising nearly 30% this winter

Yellen says US economy 'resilient' amid global headwinds; pledges vigilance

US Treasury Secretary Janet Yellen sought on Wednesday to project confidence in the US financial outlook while pledging vigilance in responding to risks on the horizon. She is offering that message as global finance leaders gather in Washington to discuss the increasingly dismal view of the global economy. Our economy remains resilient in the face of global economic headwinds, Yellen said at a meeting on the sidelines of this week's annual meetings of the International Monetary Fund and its sister lending agency, the World Bank. Her remarks to the Bretton Woods Committee's International Council crediting President Joe Biden's domestic policies for contributing to US economic strength came as administration officials try to talk up the president's policies ahead of midterm elections. Those elections will decide the balance of power in Congress and statehouses across the nation. Democrats with no margin for error are fighting to retain control of the House and Senate. Russia's ...

Gold prices inch lower as Fed Reserve minutes, US inflation data loom

Gold prices inched lower as traders looked forward to US Federal Reserve minutes and key inflation data for clues on the pace of future interest rate hikes.

JPMorgan CEO Jamie Dimon expects US recession in six to nine months

While the US economy is doing well at the moment, a number of indicators and global issues are ringing alarm bells: Dimon

Desperate for workers, firms plan to hire people even with criminal records

Railroads have been struggling with service issues they say have been caused by worker shortages, and in september struck a labour deal to avoid a nationwide strike

Federal Reserve officials won't relent on path to 4.5% and may move higher

On course for 75-bp increase next month; rate headed to 4.5-4.75% by next yr

OPEC+ production cut poses new threat to Joe Biden as election nears

More than a month after tweeting he had vanquished "Putin's price hike at the pump," Biden faces forces that even the US government can't match.

How should India respond to future shocks in an off-balance changed world?

The global engines of growth have become the sources of instability and uncertainty. T N Ninan explores what India should do

US economy, geopolitics: Factors that could roil markets next quarter

With the rupee weakening against the US dollar, a more hawkish pivot by RBI is expected

US economy drops at 0.6% annual rate from April through June

Battered by surging consumer prices and rising interest rates, the US economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate. It marked the second consecutive quarter of economic contraction, one informal rule of thumb for a recession. Most economists, citing a strong and resilient American job market, believe the world's biggest economy is not yet in a downturn. But they worry that it might be headed for one as the Federal Reserve ratchets up interest rates to combat inflation. Consumer spending grew at a 2% annual rate, but that gain was offset by a drop in business inventories and housing investment. The US economy has been sending out mixed signals this year. Gross domestic product, or GDP, went backward in the first half of 2022. But the job market has stayed strong. Employers are adding an average 438,000 jobs a month this year, on pace to be the second-best year for hiring (behind ..

US economy may be entering 'new normal' after pandemic, says Jerome Powell

Powell and his colleagues are moving rapidly to reduce the highest inflation in nearly 40 years after being slow to spot the threat of broadening price pressures.

Every nation for itself as dollar batters global currencies after rate hike

While the problems in currency markets right now are in many ways reminiscent of the 1980s, the solutions are unlikely to be

US Fed chair Powell's message: Inflation fight may cause recession

'We have got to get inflation behind us. I wish there were a painless way to do that. There isn't'

Cost of making a classic lunch at a US diner is 13% more now, shows data

Food costs in the US are up 11.4 per cent from a year ago, the most since 1979, and are a key driver behind the nation's 8.3 per cent overall inflation rate

Top US banks hike lending rates to highest since 2008; Lira at record low

The US central bank has remained steadfast in its decision to keep raising rates until data shows a sustained pullback in consumer prices

India not so coupled with global economy, recession unlikely: S&P

Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters here. In fact, India was never coupled fully with the global economy and so is relatively independent of global markets, he said, adding that a lot depends on how global fund flows behave if there is a recession in the US and Europe. Their inflation numbers continue to dodge the monetary actions by their central banks as the gap between the US core inflation target and the actual number is three times .