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. …
Read More »U.S. Consumer Confidence Rises in February
Consumer confidence in the United States improved in February, reaching its highest level in three months, as the American economy is recovering from the impacts of the Coronavirus pandemic. However, confidence remained well below its pre-pandemic levels, data by the Conference Board showed on Tuesday. The consumer sentiment index rose …
Read More »U.S. Redbook Index Improves in February
The United States Redbook Index improved in February, signaling an improvement in the retail sector as the economy recovers from the impact of the Coronavirus pandemic. The Johnson Redbook Index recorded -0.8% this month, compared with -0.9% in January, according to data by Redbook Research on Tuesday. The index, which …
Read More »US: Housing Price Index Rises 1.1% in December
The Housing Price Index released by the US Federal Housing Finance Agency (FHFA) came in at +1.1% in December after rising 1% in November. This reading came in slightly higher than the market expectation of 1%.
Read More »U.S. House Moving Forward with Passing $1.9 T Relief Bill
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 …
Read More »Yellen: Biden’s Plan Success Depends on Employment
The success of the American rescue plan, proposed by the United States President Joe Biden, will be evaluated based on how quickly it helps the economy return to unemployment levels as sees prior to the Coronavirus pandemic, the U.S. Treasury Secretary Janet Yellen said on Monday. Once again, Yellen said …
Read More »Goldman Raises Its Forecast For Brent Price in Q3 to $75 a barrel
Goldman Commodities Research raised its Brent crude oil price forecast of $10 for Q2 and Q3 of 2021, indicating lower expectations for stocks and higher cost margins for resuming upstream activities and speculative inflows. The American bank expects Brent prices to reach $70 a barrel in Q2, from the $60 …
Read More »U.S. Businesses Show Fastest Output Growth in 6 Years: PMI
Businesses in the United States showed their strongest monthly output expansion in about six years this month, data showed on Friday. As the American economy is recovering from the impact of the Coronavirus pandemic, the service sector activity expanded and the manufacturing sector maintained output growth at a slightly slower …
Read More »Goldman Expects Limited Impact on Price of Oil Due to The Freezing Weather in Texas
Goldman Sachs said in a note that a wave of freezing weather in Texas caused blackouts and disruptions to refineries and pipelines that would have a limited and only temporary impact on the global oil market. Oil prices fell by up to 2% on Friday, due to fears that the …
Read More »U.S. Import and Export Prices Increase by Record Levels
Import prices in the United States registered last month their biggest rise in about nine years, data by the U.S. Department of Labor Showed on Thursday. Following a 1% increase in December, import prices rose by 1.4% in January, signaling their biggest increase since March 2012. This comes amid a …
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