Tag Archives: US Economy

Fed Chair Jerome Powell is currently testifying before the House Financial Services Committee alongside US Treasury Secretary Janet Yellen. More Wednesday’s Quotes:“We need to move on from the word transitory.”“The risks of higher inflation have moved up.”“Demand is very, very strong from fiscal policy and a quickly rebounding economy.”“The economy …

According to a survey compiled by the Institute of Supply Management, released Wednesday, US Manufacturing PMI rose to 61.1 in November from 60.8 in October. That was slightly above the expected reading of 61.0 and above October’s reading at 60.8. The employment index rose to 53.3 from 52.0, the new …

While wider optimism has spread believing the job market is getting better, a lot of US citizens believe the actual economy s getting worse and worse.Claims for unemployment benefits retreated to lowest point since 1969 the week before Thanksgiving in an amazing rebound from the levels earlier during the Covid-19 …

Everybody’s baseline forecast will now be for the Fed to accelerate the tapering of its bond purchases at the Dec. 15 meeting.Economics late yesterday predicted that the Fed would double the pace of acceleration, to $30 billion a month starting in January. That would wrap up the Fed’s QE by …

US Fed Chair Jerome Powell, in testimony prepared for delivery Tuesday before the Senate Banking Committee, and released Monday by the Fed, said that he continues to expect high inflation to recede over the next year as supply and demand come into better balance, but warned that prices could continue …

On Friday, US Treasury yields experienced sharpest drop since the pandemic began as investors rushed toward safe haven assets following the emergence of a new coronavirus variant in South Africa.The two-year Treasury yield, which typically moves in step with interest rate expectations, was down 14.2 basis points at 0.502, the …

Consumer sentiment in the United States stayed at decade-low levels in November as spiking inflation soured households’ views on both their own finances and the economy nationwide according to a survey conducted by the University of Michigan released Wednesday. The final reading of the index of consumer sentiment came in …

US consumer spending powered ahead in October although the economy was confronted by the biggest and fastest inflation wave in 31 years, setting up the economy for a year-end growth spurt.Purchases of goods and services, unadjusted for changes in prices, increased 1.3%, the most since March, following a 0.6% gain …

The U.S. economy expanded at an annual 2.1% pace in Q3 instead of 2.0% according to revised government data. Economists were expecting a reading of 2.2%, according to a Wall Street Journal poll. Consumer spending and private inventory investment mostly accounted for the upward revision, the Commerce Department said Wednesday. …

Following a 7.1% (downwardly revised from 14.0%) surge in sales in September, New Home Sales in the United States rose by a modest 0.4% in October according to data released by the US Commerce Department showed on Wednesday. The fresh data indicates rise for the second successive month to the …