Federal Reserve Governor Michelle Bowman on Wednesday said she would be “very comfortable” with beginning to withdraw some of the U.S. central bank’s crisis-era support for the economy as soon as next month, citing concerns about inflation and asset bubbles. The Fed’s purchase of Treasuries and mortgage-backed securities has been a centerpiece of its COVID-19…
Fed’s Bowman ‘Very Comfortable’ With November Taper, Sees Inflation Risks
October 14, 2021
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Business & EconomyCompaniesEconomieseconomyExecutive BranchFedinflationMichelle BowmannovemberPoliticsriskstaperUSUS News
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US Household Energy Bill Projected To Soar in Winter: EIA
The average heating cost for a U.S. household is forecasted to see a double-digit increase this winter, according to the U.S. Energy Information Administration (EIA) in its October winter fuels outlook (pdf). Retail energy prices are expected to approach “multiyear highs” due to supply-demand changes following the pandemic as well as a colder winter ahead….
American Households’ Heating Bills Are Expected to Spike This Winter: Federal Agency
The average heating cost for a U.S. household is forecasted to see a double-digit increase this winter, according to the U.S. Energy Information Administration (EIA) in its October winter fuels outlook (pdf). Retail energy prices are expected to approach “multiyear highs” due to supply-demand changes following the pandemic as well as a colder winter ahead….
Heating Bills Are Expected to Spike in US This Winter: Federal Agency
The average heating cost for a U.S. household is forecasted to see a double-digit increase this winter, according to the U.S. Energy Information Administration (EIA) in its October winter fuels outlook (pdf). Retail energy prices are expected to approach “multiyear highs” due to supply and demand changes following the pandemic, as well as a colder…
Oil Market Still Faces Uncertainties Due to COVID-19, OPEC Chief Says
October 14, 2021
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Business & EconomyCOVID-19EconomiesEuropeInternationalInvestmentmarketMarketsOilOPECuncertaintiesWorld
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MOSCOW—The oil market continues to face uncertainties stemming from the COVID-19 pandemic, OPEC Secretary General Mohammad Barkindo told reporters on the sidelines of an energy forum in Moscow on Thursday. “The market is taking its course in accordance with supply and demand fundamentals. But we must admit there are external factors that are influencing the…
G20 Finance Chiefs Back Tax Deal, Pledge to Sustain Recovery, Watch Inflation
WASHINGTON—Finance leaders from the G20 major economies on Wednesday endorsed a global deal to revamp corporate taxation and pledged to sustain fiscal support for their economies while keeping a close eye on inflation. The G20 finance ministers and central bank governors also said in a communique issued after a meeting in Washington that the International…
UK Fuel and Household Energy Spending Rises a Fifth in a Fortnight: Lloyds Bank
Sept. 24 saw the highest amount spent on fuel in a single day since Lloyds Bank records began, analysis of customers’ debit cards shows. The peak fell the day after BP and Tesco closed some filling stations due to problems with fuel delivery. Across the UK, people spent a fifth (20 percent) more at petrol…
Japan Ruling Party Executive Calls for $290 Billion Stimulus Package
TOKYO—Japan must compile an economic stimulus package worth at least 32-33 trillion yen ($282-$290 billion) to cushion the impact of the coronavirus pandemic, a senior ruling party official close to Prime Minister Fumio Kishida said on Thursday. Such large-scale spending would be needed to fill Japan’s output gap and achieve the central bank’s 2 percent…
Earnings Optimism Drives European Stocks to Two-Week Highs
October 14, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesearningsEconomieseconomyEuropeEuropeanInternationalInvestmentMarket WatchMarketsoptimismstocksTechUKUSUS NewsWorld
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European stocks hit a more than two-week high on Thursday as investors hoped that a steady economic recovery from the pandemic-induced slump will support corporate earnings despite signs of elevated inflation. The pan-European STOXX 600 index rose 0.8 percent, with miners up 2.1 percent and technology stocks gaining for a second day. European semiconductor companies,…
Ideology, Not Market, Driving Coal Decisions: Australia Resources Minister
MELBOURNE—Global regulators, banks, and investors are making ideological rather than market-based investment decisions around coal, which will still have solid demand in the coming decades, Australia’s Resources Minister Keith Pitt told Reuters on Thursday. Pitt’s National Party, a junior member of Prime Minister Scott Morrison’s governing coalition that represents many Australians in coal-producing districts, has…
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