Tag: economic policies

Wall Street Opens Higher as Nvidia Offsets Fed Jitters

February 23, 2023
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main stock indexes opened higher on Thursday as a strong sales forecast from Nvidia boosted chipmakers, although a surprise fall in weekly jobless claims added to worries that the Federal Reserve will keep raising interest rates for longer. The Dow Jones Industrial Average rose 130.30 points, or 0.39 percent, at the open to…

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‘Dangerous Surveillance’: Republican Lawmaker Wants to Ban Federal Reserve From Issuing Digital Currency

February 23, 2023
Business & MarketsCentral Bank Digital Currency (CBDC)digital dollareconomic policieseconomyPolicies & ImpactsUSUS Federal ReserveUS News
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House Majority Whip Tom Emmer (R-Minn.) has introduced legislation that seeks to prevent the Federal Reserve from issuing a central bank digital currency (CBDC), while insisting that a digital equivalent to the dollar must uphold privacy and sovereignty. The “CBDC Anti-Surveillance State Act” prohibits the Federal Reserve from issuing a CBDC directly to an individual….

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US Applications for Jobless Benefits Fall Again Last Week

February 23, 2023
benefitsBusiness & MarketsCompanieseconomic policieseconomyinflationjoblessMarketsMedia & Big TechrecessionunemployementUSUS News
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The number of Americans filing for jobless aid fell last week as the labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy. Applications for unemployment benefits in the U.S. for the week ending Feb. 18 fell by 3,000 last week to 192,000, from 195,000 the…

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Dollar Index Hits 7-week High on Higher-for-Longer US Rates

February 23, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar index rose to its highest in nearly seven weeks on Thursday, a day after minutes from the Federal Reserve’s last policy meeting that supported, but did not add to markets’ view the central bank will raise rates further. The index, which tracks the greenback against six major peers touched 104.68, its highest since…

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Oil Prices Stabilize, but Rise in US Inventories Looms

February 23, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesMarketsOilrecessionstocks
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LONDON—Oil prices stabilized on Thursday after Brent crude posted its biggest one-day loss for seven weeks in the previous session, with gains on Russian supply curbs capped by an expected rise in U.S. inventories. Brent crude futures rose 25 cents, or 0.3 percent, to $80.85 a barrel by 1004 GMT, compared with about $98 a…

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Global Stocks Mixed After Fed Officials Support Higher Rates

February 23, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BEIJING—Global stock markets were mixed Thursday after notes from a Federal Reserve meeting showed officials expect more U.S. interest rate hikes to fight stubborn inflation. London, Shanghai, and Hong Kong declined. Frankfurt and Wall Street futures advanced. Japanese markets were closed for a holiday. Notes from the latest Federal Reserve board meeting showed members expect…

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Inflation Heats Up Despite Easing Supply Chain Pressures

February 22, 2023
Business & MarketsCompanieseconomic policieseconomyinflationInvestmentmanufacturingMarketssupply chainU.S. InflationUncategorizedUSUS News
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U.S. inflation is heating up despite improvements in supply chain pressures. This comes as business activity in the United States picked up in February, according to the latest U.S. Purchasing Managers’ Index (PMI) Composite Output Index from S&P Global on Feb. 21. Although supply chain disruptions showed signs of easing, inflation remain stubbornly elevated, as…

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FOMC Members Raised Recession Odds, Warned ‘Uncertainties’ in Inflation Outlooks, Minutes Reveal

February 22, 2023
Business & Marketseconomic policieseconomyFederal Open Market Committee (FOMC)Federal Reserveinflationinterest ratesUS
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Minutes from the latest Federal Open Market Committee (FOMC) policy meeting revealed that the policy-making arm of the central bank believes the odds of a recession occurring in 2023 are higher. While inflation is moderating and global economic growth prospects have bolstered market sentiment, there is a growing number of FOMC participants who are anticipating…

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Ottawa’s ‘Sustainable Jobs’ Plan Pilloried as Imposing Top-Down Planning, Stifling Free Market

February 22, 2023
Business & MarketsCanadacentralized planningCompanieseconomic policiesjust transitionnet zero 2050sustainable jobsWilkinsonWorld
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News Analysis In efforts to reach net zero by 2050, Ottawa’s strategy to transform the workforce toward “sustainable jobs”—”green” jobs in a low-carbon economy—sparked extensive criticism from analysts due to its top-down approach and departure from traditional market-based economics. On Feb. 17—the Friday before a long weekend and overshadowed by the verdict on the government’s…

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US and Its Allies Will Tighten Screws on Russia’s Evasion of Sanctions, Says Treasury Department

February 22, 2023
Asia & PacificBusiness & MarketsCanadaCompanieseconomic policieseconomyenergyEuropeInternationalInvestmentMarketsNational SecurityPolicies & ImpactsRussiaRussia-Ukraine WarsanctionsU.S. treasury departmentUKUSWally AdeyemoWorld
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The United States and its allies will impose new sanctions this week on Russia in order to punish the Kremlin for the war in Ukraine. Deputy U.S. Treasury Secretary Wally Adeyemo announced on Feb. 21 further efforts to prevent Russia from evading sanctions and export controls, aimed at pressuring it to withdraw from its neighbor….

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