Investors cheered Federal Reserve Chair Jerome Powell's Jackson Hole address, which gave a green light to buy risky assets on the hope the central bank is ready to cut rates, but took his dovish message with a note of caution as they see a risk of stagflation ahead and worry markets are over-optimistic. In his final address as Fed chair at the Jackson Hole, Wyoming, economic symposium, Powell hinted at a September interest rate cut but stopped short of committing, striking a careful balance between mounting job-market risks and lingering inflation worries. The speech on Friday came amid...
Waktu terus berjalan bagi UE untuk mencapai kesepakatan dengan Washington dan menghindari guncangan tarif, tetapi Capital Economics memperingatkan bahwa peluang untuk mencapai terobosan sangat kecil karena defisit perdagangan yang besar dan perpecahan internal blok tersebut mengaburkan pembicaraan. Taruhannya tinggi: jika pembicaraan gagal menghasilkan kesepakatan sebelum batas waktu 9 Juli, hampir semua ekspor UE ke AS—sekitar 70% dari total pengiriman—akan dikenakan pungutan sebesar 20%, naik dari 10% saat ini. "Kami menduga kesepakatan AS-UE tidak akan segera terjadi. AS mungkin kurang...
China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain pipeline, ship tracking data showed, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating. China's new interest in Canadian oil comes as U.S. President Donald Trump's trade war has strained relations between longtime allies Washington and Ottawa. It also reflects the impact of U.S. sanctions on crude from countries like Russia and Venezuela. Canada is the world's fourth-largest oil producer, but its main oil-producing province of Alberta is landlocked with...
The University of Michigan's gauge of consumer sentiment fell slightly to 50.8 in a preliminary reading in May from 52.2 in the prior month. It was the fifth straight monthly decline. Inflation expectations have edged higher. Economists surveyed by the Wall Street Journal had forecast sentiment rising to 53.5. This is a breaking story. Check back here for updates. Source: Bloomberg
U.S. President Donald Trump said on Friday he was returning to Washington after wrapping up his Gulf tour. "Let's see what happens with Russia and Ukraine," he said, referring to Russia-Ukraine talks taking place in Turkey. Trump said he will meet Russian President Vladimir Putin "as soon as we can set it up". Russian and Ukrainian negotiators will meet in Istanbul on Friday for their first peace talks in more than three years as both sides come under pressure from U.S. President Donald Trump to end Europe's deadliest conflict since World War Two. The encounter at the Dolmabahce Palace...
Barclays no longer expects the U.S. economy to slip into a recession later this year and has revised up its growth forecasts, given signs of a de-escalation in U.S.-China trade tensions, the bank said in a note released late Thursday. Barclays said it now expects the U.S. economy to grow 0.5% this year and 1.6% next year, up from previous forecasts of -0.3% and 1.5%, respectively. Reduced uncertainty and an improved economic backdrop also led Barclays to lift its euro area growth expectations. It now forecasts flat economic growth this year, compared to a 0.2% contraction...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...