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U.S. Federal Reserve Chairman Jerome Powell said on Friday that it is likely that scaling back the asset purchases will begin before the end of the year. He did, however, rule out raising interest rates in the near future. Powell was speaking earlier at the annual Jackson Hole Economic Symposium, …

The US Bureau of Economic Analysis (BEA) reported on Friday that Personal Income expanded by 1.1% in July. This reading came in better than the market expectation of 0.2%.  Further details of the report revealed that Personal Spending, which increased by 1.1% in June, rose by 0.3% in the same …

The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 6.6% in the second quarter, the US Bureau of Economic Analysis reported on Thursday. This reading matched the previous estimate and the market consensus. the US Bureau of Economic Analysis (BEA) second estimate showed on Thursday. …

There were 353,000 initial claims for unemployment benefits in the United States during the week ending August 21, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 349,000 and came in slightly worse than the market expectation of 350,000.

Three members of the United States Senate have reportedly tested positive for coronavirus (COVID-19), Bloomberg reported. Roger Wicker (R) of Mississippi, Angus King (I) of Maine, and John Hickenlooper (D) of Colorado announced the test results on Thursday. The three Senators are said to have all been vaccinated against the …

Private sector employment in Canada rose by 221,300 jobs from June to July, the ADP Research Institute revealed in its monthly report on Thursday. This reading followed the previous print of -106,200 (revised from -294,200).

There were 348,000 initial claims for unemployment benefits in the US during the week ending August 14, the data published by the US Department of Labor showed on Thursday. This reading followed the previous print of 377,000 and came in better than the market expectation of 363,000.

The minutes of the latest Federal Open Market Committee (FOMC) meeting showed that some members of the United States Federal Reserve Board indicated that the committee should begin limiting asset purchases this year. However, 60% of respondents anticipated the first reduction in the pace of net asset purchases to come …

Industrial Production in the United States expanded by 0.9% on a monthly basis in July, the data published by the US Federal Reserve revealed on Tuesday. This print followed June’s increase of 0.2% (revised from 0.4%) and came in better than the market expectation of 0.4%.

Retail Sales in the US declined by 1.1% on a monthly basis in July to $617.7 billion. This reading followed June’s expansion of 0.67% (revised from 0.6%) and came in worse than the market expectation for a decrease of 0.2%. Consumers make up nearly 70% of all activity in the …