Economic Report

Chairman of the United States Federal Reserve, Jerome Powell, told the House of Representatives that the Fed will only raise interest rates when the economy achieves the employment and inflation targets. In his testimony to the House Financial Services Committee, Powell said that the Fed is in no hurry to …

Chairman of the United States Federal Reserve, Jerome Powell, testified on Tuesday before the Senate, telling the Senate’s Banking Committee that the economy’s recovery is still uneven and far from complete. Powell vowed to maintain the current monetary policy until the inflation target is achieved and full employment is reached. …

The United States House of Representatives is officially moving forward with steps to pass the American Rescue Plan, the $1.9 trillion Coronavirus relief package proposed by President Joe Biden. The stimulus bill was passed through the House Budget Committee with a 19-16 vote. It includes raising unemployment insurance supplement $400 …

The dollar trimmed its losses in early European trade after reaching its lowest level in several years against the pound sterling and the currencies of Australia and New Zealand, as bond yields rose in light of progress in Corona’s immunization programs and expectations of an acceleration of economic growth and …

Weekly Recap: February 15-19, 2021 Global markets continued to be dominated by reflation expectations last week. In addition, various economic data and indicators reflected variably on the outlook for economic growth and recovery from the impact of the Coronavirus pandemic. Expectations for a rise in inflation in the United States …

European Central Bank data showed that the eurozone’s current account surplus widened in December due to a higher trade surplus and a larger contraction of the secondary income deficit, which includes outflows such as remittances and taxes. The 19-nation bloc, which deals in euros, recorded a current account surplus of …

Minutes of the European Central Bank’s (ECB) January meeting showed a commitment to keeping a steady hand on economic stimulus and efforts to help the European economy recover from the impact of the Coronavirus pandemic. The minutes showed that policymakers believe it will take some time for the stimulus measurements …

Oil prices erased gains made in early trading after Brent hit a new high in 13 months, surpassing $65 a barrel, as markets witnessed new buying due to fears that sudden cold weather in Texas could disrupt US crude production for days or perhaps weeks. Brent crude fell 3 cents, …

The dollar traded at slightly less than its recent highs, Thursday, February 18th, after it made its first consecutive gains over two weeks, as optimistic data reinforced expectations that the US economy is recovering from the Coronavirus pandemic at a pace that it captured than its peers. Bitcoin traded near …

The latest meeting of the United States Federal Reserve saw members of the Federal Open Market Committee (FOMC) maintaining their commitment to the monetary easing policies. The meeting minutes, which were released on Wednesday, showed commitment towards maintaining interest rates near 0%, as well as the current pace of the …