US: Fed leaves rates unchanged, sees ‘somewhat elevated’ inflation and stabilizing job market
The Federal Reserve held interest rates steady on Wednesday amid what U.S. central bank chief Jerome Powell described as a solid economy and diminished risks to both inflation and employment, an outlook that could signal a lengthy wait before any further reductions in borrowing costs. (Reuters)
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US: US core capital goods orders rise for fifth straight month, boosting economic outlook|
New orders for key U.S.-manufactured capital goods increased more than expected in November, indicating business spending on equipment maintained a steady growth pace in the fourth quarter. (Reuters)
US: Fed to hold rates through March, and possibly through Powell’s tenure, on strong growth: Reuters poll
The U.S. Federal Reserve will hold its key interest rate through this quarter and possibly until Chair Jerome Powell’s tenure ends in May, according to a majority of economists polled by Reuters, a shift from last month when most expected at least one cut by March. (Reuters)
US: Bessent says Fed chair pick could come as soon as next week
US Treasury Secretary Scott Bessent said President Donald Trump could announce his pick for the next Federal Reserve chair as soon as next week, amid intense anticipation over the White House’s search for a new central bank chief. (The Edge Malaysia)
US: Canada inflation quickens to 2.4% on effects of tax break
Inflation accelerated in Canada by more than expected as a federal tax holiday at the end of 2024 pushed yearly price comparisons higher, offsetting falling gasoline costs. Headline inflation quickened to 2.4% in December, Statistics Canada data showed on Monday. (The Edge Malaysia)
US: Fed should be ready to cut rates again amid job market risks, Bowman says
Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday a fragile job market that could weaken quickly means the U.S. central bank should stand ready to cut interest rates again if needed. (Reuters)
US: Prices paid to US producers rise on jump in energy costs
US wholesale inflation picked up slightly in November from a month earlier on a jump in energy costs, even as prices for services were unchanged. The producer price index (PPI) rose 0.2% after climbing 0.1% in the prior month, according to the Bureau of Labor Statistics (BLS). The report, which included the first estimate of October wholesale price data, was delayed by the 43-day federal shutdown. (The Edge Malaysia)