US economy News

Investors across financial markets, including in India, will look for fresh cues from the outcomes of the upcoming US monetary policy review meeting next week, particularly the extent of interest rate cut, if any. The US Federal Reserve's next meeting is scheduled for September 17-18, 2024. US Federal Reserve Chair Jerome Powell recently indicated that it was time for the US central bank to reduce interest rates as inflation rates aligned with its target.

Nifty recovered from early morning weakness and closed flat on Friday. At close, the Nifty was down 0.9 points at 22513.7. 

The Federal Reserve made clear Wednesday that it plans to raise interest rates multiple times this year. This will help it in battling the hottest inflation in nearly four decades. Those rate increases will make borrowing more expensive and perhaps slow the economy this year.

Donald Trump said this while he was addressing an election rally in Arizona ahead of the November 3 polls.

US job growth has decelerated in July casting a shadow on the pace of economic recovery The jobs recovery is on very shaky ground, says Chris Rupkey, chief economist at MUFG in New York Nonfarm payrolls increased by 1.763 million jobs last month after a record rise of 4.791 million in June At least 31.3 million people received unemployment checks in mid-July

As the dollar firmed and as investors remained optimistic that the US economy might reopen soon from lockdowns that were enforced to contain the novel coronavirus spread.

Spot gold was down 1.4% at $1,693.20 an ounce by 0912 GMT, having this week scaled a seven-year peak on heightened worries over the worst recession in decades.

US economy expects $8 billion to be recovered as the government reopens and employees receive back pay.

Policymakers, however, noted that business investment had "moderated from its rapid pace earlier in the year," a possible drag on future economic growth.

The US central bank still foresees another rate hike in December, three more next year, and one increase in 2020.

This is the biggest single-day fall since May 29 and goes hand in hand with a stronger US dollar. 

The Federal Reserve raised interest rates on Wednesday.

The groups called on Trump to work with trade allies to push for changes to China`s policies.

Donald Trump took to Twitter to say that the US economy is in good shape.

The US economy may be basking in the warm glow of solid growth, but economists are nervously eyeing a trend in the bond market that could spell stormy weather ahead.

The six months from April to October saw the fastest economic expansion since the same period in 2014, when GDP grew by an average of 4.9 percent.

Growth in the US services sector, a key driver of the American economy, hit a 12-year high last month in the wake of back-to-back hurricanes, a survey released on Wednesday showed.

It is the strongest performance since the economy grew at a 3.2 per cent pace in the first quarter of 2015. The upward revision reflected larger farm stockpiles.

The study is the first of its kind to price warming using data and evidence accumulated by the research community over decades.

Japan`s Nikkei rose more than 1 percent to a near two-year high on Tuesday, encouraged by rebound in U.S. hi-tech shares as investors bet on solid growth in the economy and corporate profits globally.