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Economy

Jerome Powell Says Fed To Discuss Accelerated Tapering of Bond Purchases at Next Policy Meeting

Reuters | Equities.com |

Federal Reserve Chair Jerome Powell on Tuesday said the U.S. central bank likely will discuss speeding up its "taper" of large-scale bond purchases at its next policy meeting, amid a strong economy and expectations that a surge in inflation will persist into the middle of next year.

"At this point the economy is very strong and inflationary pressures are high and it is therefore appropriate, in my view, to consider wrapping up the taper of our asset purchases, which we actually announced at the November meeting, perhaps a few months sooner, and I expect that we will discuss that at our upcoming meeting in a couple of weeks," Powell said in testimony before the U.S. Senate Banking Committee.


Unemployment Claims Fall to 52-Year Low

Kimberly Redmond | Equities.com |

The number of Americans applying for unemployment benefits dropped last week to the lowest level since November 1969, a sign that the US job market is continuing to recover from the COVID-19 pandemic.

In the week ending Nov. 20, filings for initial unemployment benefits fell 71,000 to 199,000, according to data released Wednesday by the Labor Department.  https://www.dol.gov/ui/data.pdf

The four-week average of claims declined by 21,000 to just over 252,000 &...


Jobless Claims Fall to 290,000 — 19-Month Low

Kimberly Redmond | Equities.com |

The number of Americans filing new claims for unemployment benefits dropped to a 19-month low last week, the US Labor Department reported Thursday.

First-time filings for unemployment benefits totaled 290,000 for the week ending Oct. 16, down 6,000 from the previous week. It marks the second week in a row that claims fell below 300,000.


Paul Tudor Jones Calls Inflation 'Single Biggest Threat' to Financial Markets

Kimberly Redmond | Equities.com |

Billionaire hedge fund manager​ Paul Tudor Jones believes inflation will not be going away anytime soon, posing a big threat to the US markets and economy. ​ 

During an appearance Wednesday on CNBC’s “Squawk Box,” Tudor Jones said, “I think to me, the number one issue facing Main Street investors is inflation, and it’s pretty clear to me that inflation is not transitory. It’s probably the single biggest threat to certainly fina...


Moody's Sees Long-Term Economic Benefit to Fuller Racial Integration

Kimberly Redmond | Equities.com |

Fuller racial integration across the US could have a positive impact on the nation’s long-term economic growth, according to a new study.

In an analysis released Wednesday by Moody’s Analytics, researchers estimated the US real gross domestic product growth (GDP) over the next decade would increase from 2.4% to 2.7% annually if more communities became as integrat...


New Factory Orders Increase 1.2% in August, Greater Than Expected

Reuters | Equities.com |

New orders for U.S.-made goods accelerated in August, pointing to sustained strength in manufacturing even as economic growth appeared to have slowed in the third quarter because of shortages of raw materials and labor.

The Commerce Department said on Monday that factory orders increased 1.2% in August. Data for July was revised higher to show orders rising 0.7% in July instead of gaining 0.4% as previously reported. Economists polled by Reuters had forecast factory orders gaining 1.0%.


August Retail Sales Rebound 0.7%, Surprising Economists After July Plunge

Kimberly Redmond | Equities.com |

Americans opened their wallets and spent last month, giving retail sales an unexpected rebound after plunging the month before, the US Commerce Department reported Thursday.

The continued surge in COVID-19 cases nationwide, however, has changed where Americans are spending their money.


Jobless Claims Fall to 310,000 — Lowest in Nearly 18 Months

Reuters | Equities.com |

The number of Americans filing new claims for jobless benefits fell last week to the lowest level in nearly 18 months, offering more evidence that job growth was being hindered by labor shortages rather than cooling demand for workers.

Initial claims for state unemployment benefits dropped 35,000 to a seasonally adjusted 310,000 for the week ended Sept. 4, the Labor Department said on Thursday.


50% of Small Business Owners Report Unfilled Job Openings

Reuters | Equities.com |

Half of U.S. small-business owners reported unfilled job openings in August as finding qualified workers remains an ongoing challenge, a trade group said on Thursday.

The National Federation of Independent Business said in its monthly jobs report that 50% of small business owners reported unfilled job openings in August on a seasonally adjusted basis, up from 49% in July. August's reading is 28 percentage points higher than the 48-year average of 22%.


US Trade Deficit Falls 4.3% in July to $70.1 Billion

AP News | Equities.com |

The U.S. trade deficit narrowed slightly to $70.1 billion in July as economic recovery overseas helped boost American exports while imports declined.

The Commerce Department reported Thursday that the trade deficit fell 4.3% in July after surging to a record $73.2 billion in June. The trade deficit represents the gap between what the country exports to the rest of the world and the imports it purchases from other countries.


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