Fed’s Vice Chair Lael Brainard said that ”there are reasons to think high inflation in the more labour sensitive “core services ex-housing” basket might reflect the pass-through of pandemic and war one-offs and not solely cyclical strength from tight labour markets.“Inflation has been declining over the past several months against …

The US dollar slid on Thursday against major currencies in a choppy US trading session as data continued to indicate that the US economy is slowing down in the wake of multiple rate hikes by the Fed as investors and traders expect the central bank to pause or at least …

The US Treasury Department announced the beginning of “extraordinary measures”, meaning a series of accounting measures, and even maneuvers, to avoid breaching the federal governments’ borrowing cap according to a letter to Congress by Treasury Secretary Janet YellenThe Treasury Department will adopt extraordinary measures to allow the federal government to …

Russia on Thursday warned that the Ukraine war will escalate if the West insists on providing Kyiv with longer-range weapons. Since the conflict broke out, the US has sent advanced and high-precision weapons and other military equipment to Ukraine to help the war-torn nation against Russian aggression. The aid included …

Gold price has already touched highest that were last seen in April 2022 above $1,900. The precious metal has a bright outlook in the year ahead.The precious metal is trading at $1918.70 per ounce at the time of writing versus the previous closing price at $19043.70. 2022 was a significant …

The US Dollar closed with gains against most major rivals, ON Wednesday, reverting earlier losses when it traded at fresh lows. Global yields fell, initially weighing on the US Dollar, later reflecting risk aversion and rising alongside the dollar.Wall Street started the day with modest gains but ended up collapsing, …

Oil prices fell about 1% on Wednesday, abandoning early gains as worries about a probable US recession outweighed optimism that China’s lifting of COVID-19 curbs will fuel demand for crude in the world’s top oil importer.Brent futures fell 94 cents, or 1.1%, to settle at $84.98 a barrel. U.S. West …

Philadelphia Fed’s Patrick Harker, on Wednesday, said that he is willing for the US central bank to move to a slower pace of interest rate hikes as a reaction to some signals that denote how hot inflation is cooling.“High inflation is a scourge, leading to economic inefficiencies and hurting Americans …

US Stocks gave back earlier gains on Wednesday as investors put an end to the new year’s rally, now in its third week. The latest reversal could be attributed to a combination of fluctuations as well as skittishness and profit taking.The Dow Jones Industrial Average fell 436 points, or 1.3%, …

The Fed needs to raise interest rates a “little bit” above the 5.00% to 5.25% range in order to bring inflation to heel, Cleveland Fed President Loretta Mester said on Wednesday, as she declined to disclose her preferred size of move at the upcoming policy meeting.“We’re not at 5% yet, …