The Federal Reserve will likely hesitate to cut interest rates next year for fear of a spike in inflation, but keeping them elevated for a long time will reduce the chances of a soft landing for the U.S. economy, a Vanguard executive said. The world’s second-largest asset manager expects a mild recession in the United […]
Tag: United States economy
US growth rebounded in third quarter; Biden praises figures
The gross domestic product (GDP) of USA It advanced 1.2% in the third quarter, which represents a rebound in growth, according to data from the Bureau of Economic Statistics (BEA) published this Thursday. According to this report, the annual growth rate was 4.9%, which leaves behind the slowdown that the world’s leading economy noted in […]
Yellen, Treasury Secretary, does not believe that the US will enter a recession
US Treasury Secretary Janet Yellen said Monday that her country is making good progress in slowing inflation and does not expect the economy to enter a recession. Speaking to Bloomberg TV from India during a meeting of Group of 20 finance officials, Yellen said slower growth in China could spill over to other economies, but […]
Joe Biden signed law raising the US debt ceiling
Agreement will avoid a catastrophe in “the strongest economy in the world”, according to Biden. Ancón Industrial Park will generate 50,000 jobs: what is the megaproject located in North Lima about? Price of the dollar today in Peru: what is the exchange rate for this Saturday, June 3? President Joe Biden promulgated this Saturday, June […]
Federal Reserve prepares to jump to a 5% rate and catch its breath
The Federal Reserve will kick off a two-day policy meeting on Tuesday in which the benchmark US central bank overnight interest rate is likely to hit its highest in nearly 16 years, hitting a possible plateau that will put tested the economy in a way that had not been seen since the start of the […]
US economy slowdown confirmed in first quarter What did Biden say?
The slowdown in the US economy was confirmed in the first quarter, with gross domestic product (GDP) growth well below expectations, the first tangible sign of the effects of the Federal Reserve (Fed) rate hike that began a year ago to fight inflation. For the first three months of 2023, GDP growth stood at an […]
US House of Representatives approves debt ceiling project with no prospect of success
The Republican-majority Lower House of the United States approved a bill on Wednesday to raise the debt ceiling in exchange for extensive cuts in public spending, although the initiative has few prospects of prospering in the Senate, where Democrats are most. The project seeks to respond to one of the country’s most urgent challenges, which […]
Biden will name two top economic advisers
President Joe Biden will appoint the vice president of the Federal ReserveLael Brainard, as the new director of its National Economic Council, a key person in coordinating policies, dialogue with business leaders and negotiations with Congress. Biden will also name his adviser Jared Bernstein as chairman of the White House Council of Economic Advisers, according […]
Chances of recession in the US are approaching 50%, according to survey
In March, those odds were just 20%. The latest survey was conducted from July 8 to 14 and 34 economists responded about the chances of a recession. The Fed “has made it clear that it is prepared to sacrifice growth as it desperately tries to control inflation through higher interest rates,” said James Knightley, chief […]
US job creation beats expectations in January
The US economy added far more jobs than expected in January, even as COVID-19 infections disrupted activity at consumer-facing businesses, pointing to underlying labor market strength. Friday’s Labor Department employment report — closely watched by markets — showed nonfarm payrolls rose 467,000 last month. December data was revised up to show 510,000 jobs created instead […]