Tag Archives: US Economy

Russian Deputy Prime Minister Alexander Novak said on Thursday that attempts to put a ceiling on the price of Russian oil could lead to an “imbalance” in the market and push prices higher, the Russian Interfax news agency quoted Russian Deputy Prime Minister Alexander Novak as saying on Thursday. His …

Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 6.3% on a yearly basis in May, the US Bureau of Economic Analysis announced on Thursday. The Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, declined to 4.7% in the …

It is not yet obvious whether the US economy could return to its pre-pandemic status according to Fed Chair Jerome Powell who spoke on Wednesday before central banker forum in Portugal.Powell also said he was more concerned about the risk of failing to stamp out high inflation than about the …

Kommersant newspaper reported on Wednesday, citing informed sources, that Russia’s oil production rose by about five percent in June to 1.46 million tons per day, or 10.7 million barrels per day.

On Tuesday, San Francisco Federal Reserve Bank President Mary Daly said she believes the US economy will slow to below 2% annual growth as the central bank hikes interest rates, but there will be enough momentum that it will not stop growing.“I do expect the unemployment rate to rise slightly, …

Moody’s, a credit rating agency, confirmed that Russia had defaulted on its foreign debt for the first time in 100 years after bondholders confirmed they had not received an interest payment of $100 million. Moody’s said Russian sovereign debt holders had not received their $100 million euro bond payment coupons …

The data published, on monthly basis, by the National Association of Realtors showed on Monday that Pending Home Sales rose by 0.7% in May following April’s decline of 4%. This data came in better than the market expectation for a contraction of 3.7%. Despite this monthly increase, Pending Home Sales …

A Russian Kremlin spokesman has rejected accusations that Russia has defaulted on its foreign debt for the first time in more than a century. In a call with reporters, Kremlin spokesman Dmitry Peskov said that Russia had made bond payments due in May but had been blocked by Euroclear due …

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 …

Fed Chair Jerome Powell said on Wednesday in his post-Fed meeting press conference that if the Fed doesn’t see progress on inflation, it will react. However, Powell mentioned that soon enough there will be some progress on bringing inflation back down and that he thinks the Fed’s guidance is still …