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Tags : "federal reserve"

Wall Street closes lower on fears of a slowing economy

Wall Street’s main indexes fell sharply on Wednesday after data showing a cooling of U.S. business activity and the stalemate in Congress over more fiscal stimulus heightened concerns about the economy while the coronavirus pandemic remains unchecked. The Nasdaq and S&P 500 fell more than 2%, and all 11 of the major S&P sectors closed […]Read More

US Fed minutes note consumer spending rebound, business uncertainty

By Christopher Condon and Matthew Boesler US central bankers noted the rebound in consumer spending at their last meeting but repeated their view that the path of the recovery would depend on containment of the virus. “Members agreed that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the […]Read More

Real rates reversal hitting big trades including gold and Nasdaq

By Katherine Greifeld Rising real yields are throwing cold water on the rally their historic plunge stoked. Real interest rates — which strip out the effects of inflation — rose by the most in a month Friday after a stronger-than-forecast July jobs report. The lurch higher from record-low negative levels helped send technology shares and […]Read More

White House seeks deal this week with congressional Democrats on

WASHINGTON: White House negotiators on Tuesday vowed to work “around the clock” with congressional Democrats to try to reach a deal on coronavirus relief by the end of this week, as the pandemic takes a heavy toll on American life. Following an afternoon meeting of the four main negotiators, Treasury Secretary Steven Mnuchin raised the […]Read More

Weak dollar no boon for emerging markets this time

LONDON/NEW YORK: Typically a boon for emerging markets, this year’s plunge in the US dollar may fail to boost the developing world’s prospects as the raging pandemic hits economic activity, increases poverty and exposes weak policymaking. The greenback plummeted by its most in a decade in July and US Treasury yields fell to record or […]Read More

Don’t keep the change, US Mint urges in push for

By: Justina Vasquez The U.S. Mint has some advice for consumers: don’t keep the change. The bureau is asking Americans to start spending their pennies, nickels, dimes and quarters to tackle what it says is a coin-supply snag brought on by the coronavirus. Precautions taken to slow the pandemic have led to reduced sales activity […]Read More

US consumer spending up 8.2%, partly erasing record plunge

WASHINGTON: American consumers increased their spending by a record 8.2% in May, partly erasing huge plunges the previous two months, against the backdrop of an economy that’s likely shrinking by its steepest pace on record this quarter. Last month’s rebound in consumer spending followed record spending drops of 6.6% in March and 12.6% in April, […]Read More

Millions of jobs could be permanently lost in reallocation shock

By Olivia Rockeman and Jill Ward Twenty-year-old William Lovely used to work at Jason’s Deli in Virginia Beach, delivering catering orders to surrounding businesses. Now, thanks to the coronavirus, he’s struggling to pay his bills. Laid off in March, he’s gone from regular hours and pay to gigging for UberEats or Instacart, earning up to […]Read More

Will ample liquidity, lower rates (thank Fed) help your equity

The US Federal Reserve signalling almost zero per cent interest rates for the next two years is likely to keep the party going in Dalal Street. This may force our own central bank to keep rates lower in the immediate term. Add to that the RBI’s liquidity boosting measures, the liquidity-driven rally is likely to […]Read More

Dealing with the dark side of low interest rates

By Jeff Sommer The extraordinarily low interest rates in place today are a boon when you’re buying a house, refinancing a mortgage, leasing a car or paying off student debt. If you qualify for a loan, low rates can help you spend less and get more. But there is a dark side to falling interest […]Read More