Tag Archives: US Economy

U.S. President Joe Biden proposed on Wednesday his plan to renovate American infrastructure with public expenditure exceeding $2.25 trillion, in what he calls “a once in a generation investment.” Following the passing of his $1.9 trillion stimulus package, named the American Rescue Plan, Biden presented the “American Jobs Plan” with …

The United States could witness an economic boom, as it recovers from the Coronavirus (COVID-19) pandemic, a recent report by Goldman Sachs suggested. “Our expectation of accelerating sequential growth is transitioning from forecast to fact,” the bank’s analysts said in a recent report titled, Anatomy of a Boom. Credit card …

Consumer confidence in the US improved sharply in March with the Conference Board’s Consumer Confidence Index rising to 109.7 from 90.4 in February. This reading beat the market expectation of 96.9 by a wide margin. Further details of the publication showed that the Present Situation Index jumped to 110 from …

Regulators of the banking sector in the United States are investigating the growing use of artificial intelligence (AI) by financial institutions, Reuters reported. The regulators announced that they are seeking feedback on the rising use of AI by banks and other institutions for various purposes.

The yield on the benchmark 10-year Treasury note fell to 1.64% on Monday, remaining below 14-month highs of 1.75% reached early in the month as the bond market appears to be flat. Investors have digested mixed economic data and tame inflation, the outlook for a brighter economic outlook for the …

Consumer sentiment in the United States continued to rise in March, reaching its highest level in a year, data by the University of Michigan showed on Friday. The Index of Consumer Sentiment improved by 10.5% to 84.9 in March, from 76.8 in February. However, it declined on an annual basis …

The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 4.3% in the fourth quarter, the US Bureau of Economic Analysis reported on Thursday. This reading came in better than the previous estimate and market expectation of 4.1%.

U.S. Treasury Secretary Janet Yellen believes that the recently approved huge stimulus package is exactly what the American economy needed. Speaking in a virtual hearing by members of the House of Representatives, Yellen expected strong recovery from the negative economic impact of the pandemic. “With the passage of the rescue …

New home sales in the United States declined by 18.2% in February to 775,000, compared with their level in January, data by the U.S. Census Bureau showed on Tuesday. On an annual level, new home sales rose by 8.2% last month, compared with their level in February 2020. Data further …

The current account deficit in the United States accelerated to a 12-year high in 2020, as the Covid-19 pandemic severely affected the flow of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services, and investments into and out of the …