Federal Reserve Chairman Jerome Powell, in a letter on Thursday, rebutted criticism leveled at the central bank by a top White House official regarding the $2.5 billion renovation project. "We take seriously our responsibility to be good stewards of public resources as we fulfill the duties assigned by Congress on behalf of the American people," Powell wrote in the letter addressed to Russ Vought, director of the White House Office of Management and Budget. Powell's letter, which largely repeats information available on the Fed's new "Frequently Asked Questions" page about the construction...
Japan's wholesale inflation accelerated in October as a weaker yen pushed up import costs for some goods, data showed on Wednesday, complicating the central bank's decision on how quickly to raise interest rates. The corporate goods price index (CGPI), which measures the prices companies charge each other for goods and services, rose 3.4% in October from a year earlier, Bank of Japan data showed, above market forecasts for a 3.0% increase. That followed a 3.1% increase in September. The yen-based import price index fell 2.2% in October from a year earlier, slowing from a 2.5% decline in...
The number of Americans filing claims for unemployment benefits rose to 221,000 in the week ending Nov. 3, 2024. That was above the 223 estimate and up from the previous weekly reading of 218, the Labor Department said on Thursday. Source: @Newsmaker23
Economic activity in the US services sector accelerated in October, with the ISM Services PMI rising to 56 from 54.9 in September. This was higher than the market forecast of 53.8. Other details from the report showed that the Prices Paid Index, a component of inflation, edged down to 58.1 from 59.4, while the Employment Index improved to 53 from 48.1. Assessing the survey findings, "concerns over political uncertainty were again more prominent than in the previous month," said Steve Miller, Chair of the Institute for Supply Management's (ISM) Services Business Survey Committee. "The...
The business activity in the US manufacturing sector continued to contract at an accelerating pace in October, with the ISM Manufacturing PMI falling to 46.5 from 47.2 in September. This reading came in below the market expectation of 47.6. The Employment Index of the PMI survey edged slightly higher to 44.4 from 43.9 in the same period and the Prices Paid Index rose sharply to 54.8 from 48.3. Finally, the New Orders Index improved to 47.1 from 46.1. Source: Fxstreet
US hiring advanced at the slowest pace since 2020 in October while the unemployment rate held at a low level in a month distorted by severe hurricanes and a major strike. Nonfarm payrolls increased 12,000 last month, following a downward revision to the prior two months. The unemployment rate held at 4.1% and hourly earnings remained firm, according to Bureau of Labor Statistics' figures released Friday. Economists had warned the Boeing Co. strike as well as the two powerful hurricanes — Helene and Milton — that hit the Southeast in late September and early October...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...