Page 9 - Us Economy
Higher unemployment rate looms in US as Fed fights inflation: Report
US Federal Reserve officials are beginning to signal that their efforts to tackle scorching inflation by raising interest rates may lead to higher unemployment, said a report
 "Higher unemployment rate looms in US as Fed fights inflation: Report")
Joe Biden focuses on workers as high US inflation remains a risk
Joe Biden said he is working to rebuild the US economy around workers, an attempt to draw a contrast with Republicans who have increasingly attracted blue-collar votes
 "Joe Biden focuses on workers as high US inflation remains a risk")
US equities tumble, S&P 500 confirms bear market as recession worry grows
US equities tumbled on Monday, with the S&P 500 confirming it is in a bear market, as fears grow that the expected aggressive Fed rate hikes would push the economy into a recession
 "US equities tumble, S&P 500 confirms bear market as recession worry grows")
Reflections of a US trip
There is positive sentiment for India, but in the short-term foreign selling will continue
 "Reflections of a US trip")
Binance US exchange sued by crypto investor over stablecoin collapse
In the lawsuit against Binance and CEO Brian Shroder, Utah resident Jeffrey Lockhart said Binance falsely advertised Terra USD as backed by fiat currency, when in fact it was an unregistered security
 "Binance US exchange sued by crypto investor over stablecoin collapse")
US household wealth declines for first time in 2 years in 1st quarter
US household wealth has declined by more than $500 billion from record figures of previous year
 "US household wealth declines for first time in 2 years in 1st quarter")
Gold prices dip on firm dollar, treasury yields; US inflation data in focus
Spot gold fell 0.1% to $1,850.10 per ounce by 1012 GMT, while U.S. gold futures were flat at $1,851.90
 "Gold prices dip on firm dollar, treasury yields; US inflation data in focus")
Treasury Secretary Janet Yellen expects US inflation to 'remain high'
Treasury Secretary Janet Yellen acknowledged that she and Fed chair Jerome Powell could have used a better word than transitory when describing the expected run of inflation in the US economy
 "Treasury Secretary Janet Yellen expects US inflation to 'remain high'")
US faces 'unacceptable levels of inflation': Yellen tells senators
US Treasury Secy said she saw bulk of inflation being caused by supply and demand mismatches, including excessive demand for goods over services during the pandemic and severe supply chain disruptions
US recession imminent and inevitable? Not if the Fed can thread the needle
"I still think we're going to navigate through without a recession. But obviously it's going to be very, very tight because risks are very high," Moody's Mark Zandi said
 "US recession imminent and inevitable? Not if the Fed can thread the needle")
Goldman's Lloyd Blankfein urges 'dial back' on negativity over economy
Lloyd Blankfein's comments came the same day that Elon Musk said Tesla Inc. will cut its salaried workforce by 10%.
 "Goldman's Lloyd Blankfein urges 'dial back' on negativity over economy")
Tesla pauses all hiring. Need to cut staff by 10%, says Elon Musk
Tesla CEO Elon Musk said he had a "super bad feeling" about the economy and that the electric carmaker needed to cut staff by around 10%
 "Tesla pauses all hiring. Need to cut staff by 10%, says Elon Musk")
Solid US job growth anticipated in May; unemployment rate seen at 3.5%
The Labor Department's closely watched employment report on Friday, also expected to show strong wage gains last month
 "Solid US job growth anticipated in May; unemployment rate seen at 3.5%")
Dollar wobbles as traders await update on US jobs data, cues on Fed hike
Markets have locked in consecutive 50-basis-point Fed hikes in June and July but the dollar has been pushed around this week by uncertainty about what happens after that
 "Dollar wobbles as traders await update on US jobs data, cues on Fed hike")
US manufacturing sector expands faster in May amid supply constraints
The Purchasing Managers' Index stood at 56.1 per cent, up 0.7 percentage points from the April reading
 "US manufacturing sector expands faster in May amid supply constraints")
Inflation zaps US savings rate, warning sign for consumer spending: Report
The personal savings rate, as a percentage of disposable income, fell to 4.4 per cent in April, the lowest level since 2008 in the US, according to the Commerce Department
 "Inflation zaps US savings rate, warning sign for consumer spending: Report")
Wall Street analysts think any stock market rally will be short-lived
An analyst thinks earnings estimates remain too high and sees the S&P 500 trading close to 3,400 by the end of the second-quarter earnings season in mid-August
 "Wall Street analysts think any stock market rally will be short-lived")
Equities rise, yields fall after data shows US inflation may have peaked
Consumer spending, which accounts for more than two-thirds of US economic activity, increased 0.9% last month, and although inflation continued to increase in April, it was less than in recent months
 "Equities rise, yields fall after data shows US inflation may have peaked")
US economy contracted by 1.5% in Q1, but consumers kept spending
Last quarter's drop in the US gross domestic product the broadest gauge of economic output does not likely signal the start of a recession.
Uncertain US economic outlook jars markets amid Ukraine war, Fed rate hike
The outlook for the US economy is unusually cloudy as war rages in Ukraine, commodity prices surge and the Federal Reserve embarks on a tricky campaign to tame inflation with higher interest rates.
 "Uncertain US economic outlook jars markets amid Ukraine war, Fed rate hike")
