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)
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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)
US: Fed subpoenas revive ‘sell America’ trade on autonomy concerns
Sell America’ sentiment swept through markets on Monday after the Trump administration escalated its attacks on the Federal Reserve, fueling concerns over the central bank’s autonomy in setting interest rates. (Bloomberg)
US: US job growth stuck at stall speed in December; unemployment rate dips to 4.4%
U.S. employment growth slowed more than expected in December amid job losses in the construction, retail and manufacturing sectors, but a decline in the unemployment rate to 4.4% suggested the labor market was not rapidly deteriorating. (Reuters)
US: US service sector activity picks up in December, employment rebounds
The US services sector activity unexpectedly picked up in December, suggesting the economy ended 2025 on a solid footing. The Institute for Supply Management said on Wednesday its nonmanufacturing purchasing managers index increased to 54.4 last month from 52.6 in November. Economists polled by Reuters had forecast the services PMI dipping to 52.3. (The Edge Malaysia)