Tag: federal reserve
US economy picks up steam despite expectations of slowdown
WASHINGTON: The US economy defied expectations to see growth pick up in the second quarter, according to government data released Thursday, supported by business investment…
Jobless Benefits: Weekly US applications for jobless benefits slide to lowest level in 5 months
The number of Americans applying for jobless benefits slid last week to its lowest level in five months, further evidence that the US labor market…
Fed raises interest rates, leaves door open to another hike
WASHINGTON: The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, citing still elevated inflation as a rationale for what…
US trade deficit eased from record high in May on fall in imports
WASHINGTON: The US trade deficit shrank in May on a sharp decline in imports, according to government data released on Wednesday, easing slightly after rising…
Federal Reserve: Federal Reserve officials were wary about slow inflation progress at June meeting
Federal Reserve officials were concerned about sluggish progress toward lower inflation and wary about the surprising staying power of the American economy at their June…
Federal Reserve: ‘Almost all’ Federal Reserve officials agreed to skip June hike: Minutes
WASHINGTON: A united US Federal Reserve agreed to hold interest rates steady at the June meeting as a way to buy time and assess whether…
US economic growth last quarter is revised up to a 2% annual rate
WASHINGTON: The US economy grew at a 2% annual pace from January through March as consumers spent at the fastest pace in nearly two years,…
Fed’s reverse repos fall below $2 trillion for first time since June 2022
NEW YORK: Demand for the Federal Reserve‘s reverse repurchase (RRP) facility slowed on Thursday, falling below $2 trillion for the first time since early June…
US central bank keeps interest rate unchanged, projects two hikes by end of year
Federal Reserve officials paused on Wednesday following 15 months of interest-rate hikes but signaled they would likely resume tightening to cool inflation, projecting more increases…
US job openings unexpectedly rise in April
WASHINGTON: US job openings unexpectedly rose in April and data for the prior month was revised higher, pointing to persistent strength in the labor market…