Tag: economic policies

Yen Surges as BOJ Policy Under Pressure, Dollar Pauses

January 13, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The yen surged further on speculation that Japan could revise its ultra-loose monetary policy, while the dollar hovered near its lowest level since June against major currencies. The Bank of Japan is an outlier in clinging to stimulus while most central banks are in rate-hiking mode, but signs of stickier inflation have emboldened some investors…

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China Demand Optimism Sets Oil on Track for Strong Weekly Gain

January 13, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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Oil prices rose on Friday, set to gain more than 6 percent for the week, on solid signs of demand growth in top oil importer China and expectations of less aggressive interest rate rises in the United States. Brent crude futures rose by 5 cents to $84.08 a barrel by 0746 GMT, off a session…

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Yen Soars as Markets Test BOJ, Stocks Cheered by Inflation Retreat

January 13, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks scaled one-month peaks on Friday thanks to signs inflation is easing, while the yen jumped to seven-month peaks and Japanese bond yields breached a central bank target as investors challenged its commitment to loose monetary policy. European shares opened higher and the broad STOXX 600 index touched its highest since April, while Asian-Pacific…

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Amazon to Appeal US Labor Board’s Certification of Union Victory in New York

January 12, 2023
AmazonBusiness & MarketsCompanieseconomic policieseconomyLocal NewsMedia & Big TechNew YorkNRLBNY NewsPolicies & ImpactsRegional-Local NewsSocial IssuesunionizationUS
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Amazon said it plans to appeal the official certification of its workers attempts at unionization in New York by the federal government’s labor relations board. Regional director Cornele Overstreet of the National Labor Relations Board (NRLB) upheld an Amazon warehouse union’s victory in New York City in her decision on Jan. 11. The Amazon Labor Union…

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Republican Congressman Calls for Audit of Federal Reserve

January 12, 2023
Business & Marketseconomic policieseconomyFederal ReservePoliticsRep. Thomas MassieUS
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Rep. Thomas Massie (R-Ky.) reintroduced on Jan. 10 his Federal Reserve Transparency Act in the House of Representatives, an annual tradition for the congressman. Dubbed the “Audit the Fed” bill, the legislation is an evolved iteration of a bill put forth by former congressman Ron Paul (R-Tex.) back in 1983. “It’s official!” Massi wrote in a tweet …

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Fed’s Harker Blames ‘Scourge’ of High Inflation on Too Much Government Spending and Easy Money Policies

January 12, 2023
Business & Marketseconomic policieseconomyexcessive government spendingFed Rate Hikehigh inflationinflationmonetary policyUS
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Excessive spending by the government and accommodative policies of the Federal Reserve have triggered rampant inflation in the United States that is hurting poorer Americans more, according to Patrick T. Harker, president of the Federal Reserve Bank of Philadelphia. The COVID-19 pandemic threw the United States into one of the “sharpest recessions” in history. However,…

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Voters Overwhelmingly Concerned About National Debt, $1.7 Trillion Omnibus Is ‘Disaster for Our Country’

January 12, 2023
$1.5 trillion omnibus billBusiness & Marketseconomic policieseconomyFederal debt ceilinggovernment debtinflationPolicies & ImpactsPoliticsU.S. national debtUS
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American voters are concerned about the country’s national debt, which has ballooned over the past decade, with many expressing worries about the $1.7 trillion spending bill that President Joe Biden signed into law last month, according to a recent survey by Rasmussen Reports. When asked how worried they were about the U.S. national debt, which…

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House Passes Bill Blocking Strategic Petroleum Reserve Exports to China

January 12, 2023
2022 Midterm ElectionsbidenBusiness & MarketsChinacongressDefending Americaeconomic policieseconomyenergyFeatured TopicsGold and CommoditiesMarketsOilPolicies & ImpactsPoliticsRepublicansSPRStrategic Petroleum ReserveUSUS NewsValues and Tradition
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The House of Representatives has greenlit a bill to block exports from the Strategic Petroleum Reserve (SPR) to China. H.R. 22, “Protecting America’s Strategic Petroleum Reserve from China Act,” on Jan. 12 passed overwhelmingly, 331–97. On the Republican side there were 218 yeas, while on the Democrat side there were 113 yeas. All nays came…

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US Annual Inflation Rate Slows to 6.5 Percent, Food and Shelter Costs Add to Price Pressures

January 12, 2023
Business & Marketseconomic policieseconomyFederal ReserveinflationUS
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The U.S. annual inflation rate slowed to 6.5 percent in December, down from 7.1 percent in November, according to the Bureau of Labor Statistics (BLS). The consumer price index dipped 0.1 percent month-over-month. The core inflation rate, which strips the volatile food and energy sectors, eased to 5.7 percent last month, down from 6 percent…

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Yen Jumps, Dollar Steady Ahead of US Inflation Data

January 12, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The yen got a boost on Thursday, while the dollar held near a seven-month low against the euro ahead of U.S. inflation data later in the day. The Japanese yen rose as much as 0.8 percent to a session high of 131.36 per dollar in Asian trade. The yen last bought 131.70 per dollar. Elsewhere,…

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