Committee suggest faster normalization, Goldman’s Jan Hatzius said in a research note.“ We are

including its chief economist Jan Hatzius. They pointed to a" longer lasting virus drag on virus-sensitive

WASHINGTON: History suggests that the United States Federal Reserve( Fed) will face a difficult task in tightening monetary policy enough to cool inflation without causing a US recession, with the odds of a contraction at about 35% over the next two years, according to Goldman Sachs Group Inc. The Fed’s main challenge is to reduce the gap between jobs and workers, and to slow wage growth to a pace consistent with its 2% inflation goal by tightening financial conditions enough to reduce job openi

NEW YORK: US economic data and earnings from two retail bellwethers indicated American consumers are spending with plenty of gusto, though cracks in the foundation of the economy are starting to form. Recent gains in overall retail sales, combined with solid earnings reports from retailers, foreshadow strong second-quarter consumption and suggest consumers aren’t yet deterred by higher inflation.... Home Depot Inc and Walmart Inc reported better-than-expected same-store sales in the latest quar

It’s unlikely he would have been supportive as stocks and bonds plummeted through 2022. Yet Powell may soon be vying for a crown most orthodox economists say belonged to Paul Volcker or Alan Greenspan.“ Kudos to Powell if he can achieve a soft landing.... But someone had better tell Joe public. According to a Gallup poll in May, public confidence in Powell was the lowest in his tenure.... The views expressed here are the writer’s own....

SYDNEY: Asian share markets were attempting a rare rally on Monday after Wall Street managed a bounce from deep lows, though investors were also braced for bad news from Chinese economic data due later in the session. Forecasts are for a fall of 6.1% in China's annual retail sales, while industrial output is seen rising just 0.4%.... Risks are to the downside given new bank lending in China hit the lowest in nearly four and half years in April." The reports should highlight the economic damage

The US Department of Labor has reported that 428, 000 jobs were added to the labour market during the month of April as the economy continues to recover from the Covid-19 pandemic.... US economist at Oxford Economics Oren Klachkin told The New York Times that “ the job market is proving to be a key source of resilience for the economy.... Job creation will eventually settle into a slower pace as businesses feel the pinch of soaring inflation and tighter financial conditions, but gains will sta

Inflation has fallen to 4% and is on track to hit the 2% target by spring, a year earlier than the BoE’s most recent forecast.... Yet the BoE said in December that policy was “ likely to need to be restrictive for an extended period of time ” and that “ further tightening ” might be necessary.... one or two MPC members vote for a hike, one for a cut and six or seven for hold. Politics may complicate BoE policy on two fronts....

The broader SP 500 edged higher by 0.02%.... The SP 500 and Nasdaq hit record highs. Markets initially cheered the US-EU trade deal as investors welcomed the avoidance of a more drastic trade war.... “ A reminder: Tariffs are not helpful to inflation or GDP( economic) growth.” Stocks in Europe turned sour after initially jumping higher....