US consumer spending rebounds, but high inflation eroding demand

Consumer spending increases 0.4% in August Personal income rises 0.3%; saving rate steady at 3.5% Core PCE price index jumps 0.6%; up 4.9% year-on-year WASHINGTON, Sept 30 (Reuters) – US consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing … Read more

Door slams on Fed ‘put’ as market pain takes back seat to inflation fight

WASHINGTON, Sept 28 (Reuters) – In the month since Federal Reserve Chair Jerome Powell laid down a hard line on inflation, stocks have suffered double-digit losses, chasms have opened in global currency markets, and yields on the safest US government debt have surged to their highest levels since the dark days of the financial crisis … Read more

Fed officials stare down market volatility, say inflation remains paramount focus

Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 26 (Reuters) – US Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping US stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. Asked at a Washington Post event whether he felt US investors had … Read more

World Bank’s Malpass faces calls to resign after climate change doubts

Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 21 (Reuters) – World Bank President David Malpass came under heavy criticism on Wednesday after he declined to say whether he accepts the scientific consensus on global warming, rekindling concerns about the bank’s lack of a deadline to stop funding fossil fuels. Malpass appeared … Read more

At UN, Micronesia denounces Japan plan to release Fukushima water into Pacific

A worker, wearing protective suits and masks, takes notes in front of storage tanks for radioactive water at Tokyo Electric Power Co’s (TEPCO) tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan February 10, 2016. REUTERS/ toru hanai Register now for FREE unlimited access to Reuters.com Register UNITED NATIONS, Sept 22 (Reuters) … Read more

US labor market resilient as recession signals grow stronger

Weekly jobless claims increase from 5,000 to 213,000 Continuing claims drop 22,000 to 1,379 million WASHINGTON, Sept 22 (Reuters) – The number of Americans filing new claims for unemployment benefits increased moderately last week, indicating the labor market remains tight despite the Federal Reserve’s attempt to cool demand with aggressive interest rate increases. The weekly … Read more