China lethal aid to Russia would come at real cost, U.S. says
WASHINGTON, Feb 26 (Reuters) – China has not moved toward providing lethal aid that would help Russia in its invasion of Ukraine and the United States has made clear behind closed doors that such a move would have serious consequences, White House national security adviser Jake Sullivan said on Sunday.”Beijing will have to make its […]
Wells Fargo lays off mortgage bankers – CNBC
Feb 22 (Reuters) – Wells Fargo & Co (WFC.N) laid off hundreds of mortgage bankers this week as part of its recent strategic shift, CNBC reported on Wednesday, citing people with knowledge of the matter.The layoffs affected top producers, including bankers who exceeded $100 million in loan volumes last year and some who attended an […]
Analysis: Fed’s quandary: Can the economy keep motoring and inflation fall?
WASHINGTON, Feb 21 (Reuters) – A year into the U.S. Federal Reserve’s most aggressive monetary crackdown since the 1980s the strength of the U.S. economy has befuddled policymakers now faced with an unexpected dilemma: Are things too good?There’s little sign the U.S. job market, currently sporting a more-than-half-century low 3.4% unemployment rate, is weakening. Consumers […]
Analysis: Looming U.S. default risk prompts investors to cut some debt exposure
NEW YORK, Feb 21 (Reuters) – Bond investors are starting to trim holdings of U.S. debt to brace for a possible government default that they see as highly unlikely but potentially seismic for financial markets around the world.The U.S. Treasury hit its $31.4 trillion borrowing limit last month. Unless congress raises or suspends that cap, […]
Argentine savers ‘drown’ under spiraling prices as inflation hits 99%
BUENOS AIRES, Feb 14 (Reuters) – Argentina’s inflation rate has hit just shy of 100%, the government said on Tuesday, with savers feeling more pain from some of the world’s fastest rising prices and workers’ budgets straining as costs outstrip salaries.The South American country, which has battled spiraling prices for years, saw monthly inflation speed […]
At least two more Fed rate hikes and no cut this year, say economists: Reuters poll
BENGALURU, Feb 14 (Reuters) – The U.S. Federal Reserve will raise interest rates at least twice more in coming months, with the risk they go higher still, according to a majority of economists in a Reuters poll who see no cut by year-end.This brings the majority of private-sector forecasters in line with the central bank’s […]
Japan’s weak Q4 GDP rebound poses challenge for BOJ’s exit path
Japan Q4 GDP expands annualised 0.6% vs f’cast +2.0%Drop in capex, inventory behind weaker-than-expected reboundData underscore view Japan making delayed recovery from pandemicOutlook on growth, wages key to how soon BOJ exits easy policyTOKYO, Feb 14 (Reuters) – Japan’s economy averted recession but rebounded much less than expected in the fourth quarter as business investment […]
United States tells citizens: Leave Russia immediately
MOSCOW, Feb 13 (Reuters) – The United States has told its citizens to leave Russia immediately due to the war in Ukraine and the risk of arbitrary arrest or harassment by Russian law enforcement agencies.”U.S. citizens residing or travelling in Russia should depart immediately,” the U.S. embassy in Moscow said. “Exercise increased caution due to […]
U.S. posts $39 billion January deficit after pension fund bailout
WASHINGTON, Feb 10 (Reuters) – The U.S. government posted a $39 billion budget deficit for January after a $119 billion monthly surplus a year earlier, as revenues dipped and one-time costs, including the bailout of a union pension fund, pushed outlays sharply higher, the Treasury Department said on Friday.The report, which comes as Treasury employs […]
Debt talks can include everything but cuts to Social Security and Medicare, Republicans say
WASHINGTON, Feb 12 (Reuters) – Republicans say they would not cut Social Security and Medicare programs but “everything else is on the table” in talks over raising U.S. government borrowing limits, House Oversight Committee Chair James Comer said on Sunday.”We need to shore those programs up. They’re running out of money. But at the end […]