Bessent says confident that core inflation is going down, Fed will need to cut rates
U.S. Treasury Secretary Scott Bessent on Tuesday said he was quite confident that core inflation would continue to go down in the United States despite the Iran war, and repeated his call for the Federal Reserve to cut its interest rates. (Reuters)
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Argentina’s inflation to cool less than expected, still on track for 9-year low in 2026: Reuters poll
Argentina’s consumer price inflation is set to cool this year by less than previously expected even as economic growth expectations have remained steady, a Reuters poll of economists showed on Monday. The latest survey results demonstrate how the oil shock from the U.S.-Israeli war with Iran has further complicated President Javier Milei’s efforts to tame price pressures while avoiding restraining the economy any more. (Reuters)
US factory orders unchanged in February for second straight month
New orders for US factory goods were unchanged for a second straight month in February as weak demand for commercial aircraft offset gains elsewhere. (The Edge Malaysia)
Fed minutes show US officials saw two-sided risks from Iran war
A growing number of US Federal Reserve (Fed) officials worried the Iran war could further stoke inflation and wanted to make clear following their March meeting that the central bank may have to consider raising interest rates. (The Edge Malaysia)
Fed’s Jefferson says rates well positioned amid uncertainty
Federal Reserve (Fed) Vice-Chair Philip Jefferson said the Iran war will stoke uncertainty and push US inflation higher in the near term, though the central bank’s policy setting remains appropriate. (The Edge Malaysia)
US core capital goods orders increase in February
New orders for key US-manufactured capital goods increased more than expected in February, but data for the prior month was revised sharply lower, suggesting some moderation in business spending on equipment in the first quarter. (The Edge Malaysia)
US service sector cools in March, inflation heating up amid Iran war
U.S. services sector growth slowed in March, while prices paid by businesses for inputs increased by the most in more than 13 years, an early indication that the prolonged war with Iran was boosting inflation pressures. The Institute for Supply Management survey on Monday also showed services employment dropping to the lowest level since the end of 2023, which probably understates the health of the labor market as government data last Friday showed a sharp rebound in job growth. (Reuters)
Trump will impose 100.0% tariff on some patented drugs
The Trump administration will impose tariffs of as much as 100.0% on certain imported medicines, albeit with several major exemptions, a manoeuvre to pressure drugmakers to manufacture more in the US. (The Edge Malaysia)