Author: Ann Saphir
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U.S. economy little changed, outlook ‘deteriorated’: Fed survey
By Ann Saphir and Howard Schneider (Reuters) – U.S. economic activity appeared to stall in recent weeks, a Federal Reserve report published on Wednesday showed, with job growth and inflation both slowing, and near-term business prospects looking slightly worse than previously. “Expectations for future growth deteriorated a little, though contacts still largely expected a further…
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Fed’s Brainard says data may be aligning for ‘soft landing’ scenario
By Howard Schneider, Ann Saphir and Bianca Flowers WASHINGTON (Reuters) – Evidence in favor of a “soft landing” for the U.S. economy, in which inflation declines without major job losses, appears to be growing, Federal Reserve Vice Chair Lael Brainard said on Thursday in remarks that excluded any explicit policy preference for the U.S. central…
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Fed’s Powell hopeful inflation can be tamed without pain of Volcker era
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve is “strongly committed” to fighting inflation, but there remains hope it can be done without the “very high social costs” involved in prior campaigns to control surging prices, Fed Chair Jerome Powell said on Thursday. Powell, in a 40-minute webcast interview with Cato Institute…
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Explainer-U.S. GDP shrinks in second quarter. Is the nation in recession?
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The U.S. economy shrank for a second straight quarter, data released on Thursday showed, amplifying an ongoing debate over whether the country is, or will soon be, in recession. The 0.9% annualized rate of decline in U.S. gross domestic product in the second quarter followed a…
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U.S. economy can withstand Fed tightening, Omicron surge, Powell says
By Howard Schneider and Ann Saphir (Reuters) -Federal Reserve Chair Jerome Powell, in a congressional hearing that pointed to his likely confirmation for a second term as head of the U.S. central bank, said on Tuesday the economy should weather the current COVID-19 surge with only “short-lived” impacts and was ready for the start of…
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U.S. firms battle higher inflation and worker shortages, Fed survey shows
By Lindsay Dunsmuir and Ann Saphir (Reuters) -The U.S. economy expanded at a modest-to-moderate pace in October and the first half of November while firms grappled with rising inflation and a scramble to fill jobs amid labor shortages, a survey conducted by the Federal Reserve showed on Wednesday. “Prices rose at a moderate to robust…
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U.S. economy grew at “modest to moderate” rate: Fed’s Beige Book
By Ann Saphir and Lindsay Dunsmuir (Reuters) – The U.S. economy grew at a “modest to moderate” rate in September and early October, as the latest surge of coronavirus cases crested and began to recede, the Federal Reserve said on Wednesday in its latest Beige Book compendium of reports about the economy. “Outlooks for near-term…
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GOP senator calls on Biden to reappoint Powell to top Fed job
WASHINGTON • President Joe Biden should keep Jerome Powell at the helm of the Federal Reserve for another four years to build confidence in an improving economy that still faces significant risks, Sen. Steve Daines said in a letter to the president on Thursday. “Changing the top leadership at this sensitive time could foster uncertainty…