US weekly jobless claims drop to nine-month low; productivity gains speed – Times of India

WASHINGTON: The number of Americans filing new claims for unemployment benefits dropped to a nine-month low last week as the labor market remains resilient despite higher borrowing costs and mounting fears of a recession this year.The surprise decline in weekly jobless claims reported by the Labor Department on Thursday raised cautious optimism that the economy … Read more

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Asia-Pacific markets trade mixed as investors digest Fed’s smaller quarter-point hike

Adani Enterprises withdraws follow-on public offering overnight Investors will be closely watching shares of Adani Group companies after Adani Enterprises withdrew its $2.5 billion follow-on public offering overnight, despite the sale being fully subscribed, which many saw as a vote of confidence from investors. The company cited “the unprecedented situation and the current market volatility,” … Read more

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Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money

The Federal Reserve raised the target federal funds rate for the eighth time in a row on Wednesday, in its continued effort to tame persistent inflation. At its latest meeting, the central bank approved a more modest 0.25 percentage point increase after recent signs that inflationary pressures have started to cool. “The easing of inflation pressures … Read more

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Here’s what changed in the new Fed statement

This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting on Dec. 14. Text removed from the December statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both … Read more

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What is a ‘rolling recession’ and how does it affect consumers? Economic experts explain

By most measures, the U.S. economy is in solid shape. Although the first half of 2022 started off with negative growth, a strong labor market and resilient consumer helped turn things around and give hope for the year ahead. related investing news Gross domestic product, which tracks the overall health of the economy, rose more … Read more

View More What is a ‘rolling recession’ and how does it affect consumers? Economic experts explain

‘Outright negative’ on stocks: JPMorgan’s Marko Kolanovic braces for correction, hard landing

JPMorgan’s Marko Kolanovic is abstaining from the early 2023 rally. Instead, the Institutional Investor hall-of-famer is bracing for a 10% or more correction in the first half of this year, telling investors he’s “outright negative” on the market. “Fundamentals are deteriorating. And, the market has been moving up. So, that has to clash at some … Read more

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Federal Reserve Chair Jerome Powell tests positive for COVID-19

Federal Reserve Chair Jerome Powell has tested positive for COVID-19, the central bank announced Wednesday. Powell, 69, “is experiencing mild symptoms,” the Fed said in a statement. “Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home.” The Fed noted that Powell was up to date with vaccines and boosters. … Read more

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Time for the Fed to declare victory on inflation? Not yet

A man pumps gas at a gas station in the Brooklyn borough of New York, the United States, Dec. 13, 2022. Michael Nagle | Xinhua News Agency | Getty Images December’s monthly decline in the consumer price index gets the Federal Reserve a step closer to beating inflation, though they’re highly unlikely to signal an … Read more

View More Time for the Fed to declare victory on inflation? Not yet