Treasury Secretary Scott Bessent expects a substantial drop in inflation during the first six months of 2026, according to statements made Tuesday on Fox Business. Bessent indicated that an announcement regarding President Trump's Federal Reserve chair selection would likely come in early January, with "one or two more Fed interviews" possibly taking place this week. When discussing potential candidates, Bessent noted that both Kevin Warsh and Kevin Hassett are "very very qualified" for the position. He rejected suggestions that Hassett would lack agency at the Federal Reserve, while...
Compensation costs for civilian workers in the United States increased 0.8% in the third quarter of 2025, slowing from a 0.9% increase in the previous period, slightly below market expectations of 0.9%. Wages and salaries increased 0.8%, down from a 1% increase in the first quarter, while benefit costs increased 0.8%, up from 0.7% previously. (alg) Source: Trading Economics
The better-than-expected JOLTS data briefly strengthened the dollar, indicating the relatively solid US labor market, but gold continued to rise. The market interpreted this data as a signal that the US economy hadn't yet made a hard landing, but market participants' primary focus had shifted from "daily data" to the Fed's medium-term policy stance. The end of the high-interest rate cycle has made gold attractive as a hedge, so even though the dollar strengthened after the JOLTS release, selling pressure on gold was limited, and the price of the precious metal remained at a high level. The...
White House economic adviser Kevin Hassett said Tuesday there is "plenty of room" to cut interest rates further, though he noted that rising inflation could alter this outlook. Speaking at the WSJ CEO Council, Hassett, who is widely considered a front-runner to become the next Federal Reserve chair, compared the current economic environment to the 1990s, describing it as a "potentially extremely transformative time." When asked how he would respond if President Donald Trump requested interest rate cuts that he personally disagreed with, Hassett provided a specific example of when rate cuts...
The latest survey data from the US Bureau of Labor Statistics has reported an increase in JOLTs Job Openings, a key indicator of the health of the US job market. The actual number of job openings has reached 7.658 million, significantly exceeding the forecasted figure of 7.200 million. In comparison to the forecast, the actual job opening figure represents a considerable increase, indicating a stronger-than-expected performance of the US job market. Analysts had predicted a slight decrease in job vacancies, but the actual data has defied these expectations, demonstrating the resilience and...
US President Donald Trump criticized Fed Chair Jerome Powell in an interview with Politico during the European trading session on Tuesday for not lowering interest rates, calling him "not a smart guy." Trump also discussed the current status of ceasefire talks with Russia and Ukraine. Additional Statements Will make support for an immediate interest rate cut a litmus test in selecting a new Fed chair (well, of course). Ukraine hasn't held elections in a long time. Russia undoubtedly has a stronger position. On Ukraine: Europe isn't handling it well. European countries are 'rotting,'...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...