The economy of US is going strong, but has a major chance of facing a hiccup due to impending recession fears and also because of the incoming US Presidential elections 2024, which is scheduled for November. The stock markets are also being a massive headache for economists, as some of the ‘Trump trades’, which are … Read more
The US Federal Reserve finally cut benchmark interest rate by 50 bps to 4-3/4 to 5% for the first time in four years. This marks the kicking off of an easing rate cycle. The Federal Reserve has held its policy rate in the 5.25-5.50% range since July 2023 as inflation rose to a 40-year high … Read more
US central bank poised to cut rates at Sept. 17-18 meeting Fed policymakers focused on cooling labor market Traders expect Fed’s first move to be 25-basis-point cut By Ann Saphir, Lindsay Dunsmuir and Michael S. Derby Sept 6 (Reuters) – Federal Reserve policymakers on Friday signaled they are ready to kick off a series of … Read more
“Xenophobia” from China to Japan and India is stopping their growth, US President Joe Biden argued that migration has been good for the US economy. The remarks came while addressing the Washington fundraising event for his 2024 re-elections campaign and marking the start of Asian American, Native Hawaiian and Pacific Islander Heritage Month. “One of … Read more
Treasury Secretary Janet Yellen said she sees a good chance of the US economy achieving a soft landing, with the unemployment rate — which has ticked up in recent months — averting a sharp increase. “Signs are very good that we’ll achieve a soft landing, with unemployment stabilizing more or less where it is, or … Read more
The chief economists at the American Bankers Association are of the opinion that the US Federal Reserve is done with raising interest rates and will likely to cut them by roughly one percentage point next year, reported the Bloomberg. The latest forecast from the Economic Advisory Committee of the American Bankers Association shows that the … Read more
Moody’s, the credit ratings agency, recently issued a new cautionary message concerning the U.S. banking system. What Happened: Moody’s shared in a note its decision to lower the ratings of 10 regional banks and that it is contemplating whether to downgrade several major lenders, including Bank of New York Mellon Corp (NYSE:BK), U.S. Bancorp (NYSE:USB), State Street Corp (NYSE:STT), Truist Financial Corp (NYSE:TFC), Cullen/Frost Bankers, Inc (NYSE:CFR) and Northern Trust Corp (NASDAQ:NTRS). … Read more
Treasury Secretary Janet Yellen said China’s economic slowdown risks causing ripple effects across the global economy, though she doesn’t expect a recession in the US. “Many countries do depend on strong Chinese growth to promote growth in their own economies, particularly countries in Asia — and slow growth in China can have some negative spillovers … Read more
Hoping to avert an outcome that would rattle the global economy and prove to be a boon to Beijing, Biden opened his third day in Japan at the annual Group of Seven meeting of the world’s most powerful democracies with a briefing from his staff on the latest fits and starts in talks over how … Read more