Tag Archives: biden

Following a meeting with Crown Prince Mohammed bin Salman in Jeddah, though US president Joe Biden said he expected Saudi Arabia to take further steps to increase the oil supply in the coming weeks, oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output …

Oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.The comment during US President Joe Biden’s visit to the kingdom comes at a time when …

Asian shares achieved shy gains, but European indexes maintained the green the territory with some difficulty, reflecting persistent growth and inflation concerns while Wall Street futures responded to such fears by edging lower.Financial markets witnessed a quiet start of the week, as US markets were closed commemorating the Independence Day …

Federal Reserve Chairman Jerome Powell testified before the Senate Committee on Banking, Housing, and Urban Affairs on “the semiannual monetary policy report to congress” Wednesday. Earlier this month, the Fed hiked rates by 75 basis points, or 0.75 percentage point. “Clearly, today’s 75 basis point increase is an unusually large …

Powell’s Testimony is being awaited and eyed amid market talk over the longevity of Fed’s 75 bps rate hike. The EUR/USD pair holds onto the previous two-day gains around 1.0535-40 during Wednesday’s initial Asian session. The pair’s latest rebound could be linked to the softer US dollar, as well as …

US President Joe Biden said that he is expected to make a decision this weekend to suspend the federal tax on gasoline, adding that a similar decision should be made based on clear data. It is worth noting that the study of suspending a tax on gasoline comes at a …

US President Biden is using key political capital by meeting with Saudi Crown Prince Mohammed Bin Salman in an attempt to convince the Kingdom to stabilize global oil markets and ease prices for Americans at the gas pump. Saudi Arabia’s position as the world’s second largest oil producer and unofficial …

The US Treasury Secretary expects the US economy to slow” to more “stable growth”. A recession is not “at all inevitable” as the Fed takes increasingly aggressive action to address sharply rising inflation, Treasury Secretary Janet Yellen said Sunday.“Clearly, inflation is unacceptably high,” Yellen continued. “It’s President Joe Biden’s top …

Central banks, categorized as most observed and most monitored around the globe, are coining what can be called a campaign against surging inflation. But this week it became more obvious that they know this could be achieved only at a cost that their economies should endure.US president Joe Biden indicated, …

Yield curve inverts in the US, signaling at least economic slowdown and hinting at the possibility of recession or a big decline in economic growth globally and in the domestic economy at most.Monetary policy decisions by major central banks round the globe triggered some sort of panic and risk aversion, …