Business

The Federal Reserve chair says inflation will likely remain high in coming months.

Jerome H. Powell, the Federal Reserve chair, is set to tell House lawmakers that inflation has increased “notably” and is poised to remain higher in coming months before moderating — but he will make no indication that the recent jump in prices is pushing central bankers to rush to change policy. The Fed chair will […]

Economy

US sees biggest annual inflation jump since 2008

WASHINGTON (AFP) – The United States saw its biggest surge in inflation in more than a decade last month, according to government data released on Tuesday (July 13), hitting consumers and challenging the White House and Federal Reserve narrative that the price spike will fade in the coming months. As widespread Covid-19 vaccinations allowed the […]

Analysis & Comment

Opinion | Some Catholic Leaders Deserve to Have Biden’s Ear, and Some Do Not

The last time I took communion was in El Salvador, not long before the pandemic. As a Catholic, I enjoy exploring how Mass is experienced and enriched by different cultures. But I had a more urgent reason for searching out this ritual abroad. It provided my only chance to take the Eucharist, because I quietly […]

Business

Inflation expectations jump, another data point for the Fed to keep watch on.

Consumers expect higher inflation in the near-term and over the course of several years, a Federal Reserve Bank of New York survey found, a small but potentially important signal at a time when economic policymakers are betting that expectations will remain in check as demand and prices rebound from depressed pandemic levels. Expectations for inflation […]

Analysis & Comment

Opinion | The Electric Future Must Begin Now

Our future depends on our acting now to confront the climate crisis by enacting policies to convert our economy from fossil fuels to clean energy. By making this switch, we will also create millions of new jobs, save American households money on their energy bills and protect lives by improving the air we breathe in […]

Analysis & Comment

Opinion | Employers Are Begging for Workers. Maybe That’s a Good Thing.

Produced by ‘The Ezra Klein Show’ There has been a bit of panic lately over employers who say not enough people want to apply for open jobs. Are we facing a labor shortage? Have stimulus checks and expanded unemployment insurance payments created an economy full of people who don’t want to work — and who […]

Economy

Yellen says higher interest rates would be 'plus' for US, Fed

WASHINGTON (BLOOMBERG) – Treasury Secretary Janet Yellen said that President Joe Biden’s US$4 trillion (S$5.3 trillion) spending plan would be good for the US, even if it contributes to rising inflation and results in higher interest rates. “If we ended up with a slightly higher interest rate environment it would actually be a plus for […]

Economy

Fed officials aren't ready to remove supports yet

WASHINGTON (NYTIMES) – US Federal Reserve officials on Tuesday (May 11) stood by their strategy of waiting to see further improvement in the labor market and broader economy before removing monetary support, even as some on Wall Street criticized their policies for being too complacent in the face of rebounding growth. “The outlook is bright, […]

Economy

Yellen says US interest rates may have to rise if economy heats up; comments roil markets

WASHINGTON (AFP) – US interest rates may have to increase “somewhat” to keep a lid on inflation if President Joe Biden’s latest spending proposals are enacted and the economy heats up, Treasury Secretary Janet Yellen said on Tuesday (May 4). But after her comments set off a mini-firestorm and sent stock prices tumbling, Ms Yellen […]

Economy

Fed sees supply-chain issues growing despite better US outlook

WASHINGTON (BLOOMBERG) – The Federal Reserve is seeing both labour and material shortages mounting up across several sectors of the US economy, which may have consumers paying even more for everything from fuel to new homes. In the Fed’s Beige Book report released on Wednesday (April 14), the central bank references “shortage” or “shortages” 37 […]