Economy

Source: Reuters

Shale drillers foresee ‘world of hurt’ in Biden’s green economy

World Oil


(Bloomberg) — U.S. shale drillers are incurring record labor and equipment costs so they can cash in on the highest oil prices in 14 years. They say one of the reasons they’re not doing more is because of …

Source: Fox Business

Jerome Powell faces turbulent 2022 as Fed walks economic tightrope

Fox Business


Federal Reserve Chairman Jerome Powell is entering 2022 with the American economy on shaky ground, teeing up a challenging year for the U.S. central bank as it accelerates its withdrawal of support, all while navigating the ever-changing landscape …

December 22, 2021 - 1:30 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

The majority of Fed members forecast three interest rate hikes in 2022 to fight inflation

CNBC


The majority of the Federal Reserve sees three interest rate hikes in 2022, according to the central bank’s so-called dot plot of projections.

 

 

Wednesday’s forecast showed 12 Federal Open Market Committee members expect at least three rate …

December 15, 2021 - 3:30 pm Closing Bell Story‎, Economy, Finance
Source: Reuters

Democrats push to outlaw U.S. oil exports, threatening global market stability

World Oil


WASHINGTON (Bloomberg) – President Joe Biden faces growing pressure even from fellow Democrats to address rising gasoline prices with measures such as a ban on oil exports, a move that could upend global markets, discourage shale drilling and …

Source: Reuters

Column-Hedge funds put brakes on oil buying as economy concerns grow: Kemp

Reuters


(John Kemp is a Reuters market analyst. The views expressed are his own)

LONDON – Hedge funds remain bullish on the outlook for oil but inflows of new money have dried up over the last month as prices have …

Source: Reuters

Energy crisis could threaten global economic recovery, says IEA

Reuters


LONDON – A global energy crunch is expected to boost oil demand by 500,000 barrels per day (bpd) and could stoke inflation and slow the world’s recovery from the COVID-19 pandemic, the International Energy Agency (IEA) said on Thursday.…

Source Reuters

Energy crunch stokes inflation, economic recovery concerns

Reuters


BEIJING, Oct 12  – Authorities from Beijing to Delhi scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation and curtail an economic …

Source: CNBC

Market bull issues 10% correction warning, blames inflation fallout and Washington policy uncertainty

CNBC


Long-time market bull Phil Orlando is delivering a 10% correction warning.

 

Federated Hermes’ chief market strategist warns that uncertainty surrounding fiscal and monetary policies will prevent the market from breaking out of its recent rut.

“There could be …

September 28, 2021 - 2:00 pm Capital Markets, Closing Bell Story‎, Economy, Finance, Politics
Source: Reuters

World’s largest economies are surpassing pre-Covid oil demand

World Oil


(Bloomberg) –Some of the world’s biggest economies are seeing oil consumption turn the corner and even surpass pre-pandemic levels as falling Covid-19 infection rates drive a recovery in activity.

Oil demand in China, the world’s top energy consumer,

September 9, 2021 - 10:30 am Closing Bell Story‎, Crude Oil News, Economy, Energy News
Source: World Oil

Biden’s infrastructure plan to boost Permian shale drillers and local economies

World Oil


(Bloomberg) –The region at the heart of the once-booming U.S. shale industry is signaling confidence in a nascent recovery after the pandemic crushed demand and curtailed oil and gas drilling.

The Permian basin, which straddles West Texas and …

August 9, 2021 - 2:30 pm Closing Bell Story‎, Crude Oil News, Economy, Energy News
Source: Fox Business

Treasury to deploy ‘extraordinary measures’ after Congress misses debt ceiling deadline

Fox Business


The Treasury Department will begin taking special cash-preservation measures on Monday to prevent the U.S. government from defaulting on its debt after Congress missed a key deadline to raise or suspend the borrowing limit.

The debt ceiling, …

August 2, 2021 - 2:30 pm Closing Bell Story‎, Economy, Finance, Regulatory
Source: CNBC

Action on climate change can provide a shot in the arm for the global economy, economist says

CNBC


Ramping up investment in policies and technologies to tackle climate change could play a significant role in the global economy’s recovery from the coronavirus pandemic.

In a recent note, Charles Dumas, chief economist at U.K.-based investment research firm TS

Source: CNBC

Powell says the Fed is still a ways off from altering policy, expects inflation to moderate

CNBC


Federal Reserve Chairman Jerome Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy.

In remarks prepared for the House Financial Services Committee, the central bank chief noted improvements

July 14, 2021 - 2:30 pm Closing Bell Story‎, Economy, Finance, Regulatory
Source: Reuters

Biden to sign order to promote competition in U.S. economy

Yahoo News


President Joe Biden is set to sign an executive order on Friday aimed at promoting competition across the U.S. economy — including measures that target big tech companies, aim to lower prices for consumers and call for greater …

Source: CNBC

Bank of America’s Moynihan says the Fed can pull back on policy help

CNBC


Bank of America CEO Brian Moynihan encouraged the Federal Reserve to ease up on its ultra-easy monetary policy, saying Monday that the urgency for the pandemic-related response is abating.

Speaking a day before the central bank begins its June

June 14, 2021 - 2:00 pm Capital Markets, Closing Bell Story‎, Economy
Source: CNBC

The Federal Reserve’s so-called taper talk could keep markets on edge through the summer

CNBC


The Federal Reserve is facing a big summer ahead as markets look for clues about when the ultra-easy policy measures put in place during the pandemic might finally start to unwind.

Investors got their first indication this week when …

May 24, 2021 - 2:30 pm Closing Bell Story‎, Crude Oil News, Economy, Finance
Source: CNBC

Yellen pushes higher taxes, stronger unions, more global competition to U.S. Chamber

CNBC


Treasury Secretary Janet Yellen called on Tuesday for business leaders to pay higher taxes to support government stimulus spending, and backed stronger labor unions and lowering barriers to foreign competition.

In a speech to the U.S. Chamber of Commerce, …

Source: Fox Business

Yellen says interest rates may need to rise to stop economy from overheating

Fox Business


Treasury Secretary Janet Yellen said Tuesday that higher interest rates may be needed in order to stave off runaway economic growth in the U.S. brought on in part by trillions in government stimulus measures.

“It may be that …

May 4, 2021 - 3:30 pm Closing Bell Story‎, Economy, Finance
Source: Fox Business

Fed’s Powell says US economic outlook has ‘clearly brightened,’ but recovery is uneven

Fox Business


Federal Reserve Chairman Jerome Powell said Monday the U.S. economy‘s prospects have “clearly brightened” amid increased vaccination rates and a burst of fiscal stimulus, but stressed the recovery from the coronavirus pandemic has been uneven for lower-income …

May 3, 2021 - 3:30 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

Fed holds interest rates near zero, sees faster growth and higher inflation

CNBC


The Federal Reserve on Wednesday declined to let up on its easy-money policy despite an economy that it acknowledged is accelerating.

As expected, the U.S. central bank decided to keep short-term interest rates anchored near zero as it buys …

April 28, 2021 - 3:30 pm Closing Bell Story‎, Crude Oil News, Economy, Energy News
Source: CNBC

The economy is running on a stimulus-fueled caffeine high. What will happen when it wears off?

CNBC


The setting for 2021 seems clear: A powerful growth trajectory fueled by an influx of government spending as the U.S. recovers from the Covid-19 crisis and heads into the fastest economic acceleration in nearly 40 years.

But after that,

April 16, 2021 - 3:30 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

Powell says it’s ‘highly unlikely’ the Fed will raise rates this year, despite stronger economy

CNBC


Despite what he sees as a rapidly recovering economy, Federal Reserve Chairman Jerome Powell has reaffirmed the central bank’s commitment to keep loose monetary policy in place.

That includes a statement of near-certainty that interest rates won’t be going

April 12, 2021 - 3:00 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

U.S. and China’s next economic battle will be over climate change, experts say

CNBC


Having long been at loggerheads over tradetechnology and capital markets, the world’s foremost economic superpowers are turning their attention to climate change as the next path to commercial supremacy.

China outspent the U.S. by nearly 2-to-1 …

April 1, 2021 - 3:30 pm China, Closing Bell Story‎, Economy
Source: Reuters

Fed’s Kaplan said he expects an interest rate hike in 2022

CNBC


Dallas Federal Reserve President Robert Kaplan told CNBC on Tuesday he likely will favor an interest rate increase before the end of 2022.

Though he doesn’t see inflation becoming a problem anytime soon, the central bank official said he …

March 23, 2021 - 3:30 pm Closing Bell Story‎, Economy, Finance, Regulatory
Source: CNBC

Powell says the Fed is committed to using all its tools to promote recovery

CNBC


Federal Reserve Chairman Jerome Powell reiterated his commitment to an “all-in” approach to the recovery, pledging in a commentary piece for The Wall Street Journal to keep policy loose.

Noting the “much improved” economy, the central bank chief said …

March 19, 2021 - 2:30 pm Closing Bell Story‎, Economy, Finance
Source: Reuters

GOP senators warn Federal Reserve on climate change actions

Fox Business


Republican members of the Senate Banking Committee sent a letter to Federal Reserve Chairman Jerome Powell warning him against using the central bank’s regulatory authority to implement climate change regulations, which is beyond the scope of its mission.…

Source: Fox Business

Yellen says Biden still open to wealth tax, other increases for top earners

Fox Business


Treasury Secretary Janet Yellen indicated that President Biden is open to pursuing a wealth tax as a means of paying for his multitrillion-dollar agenda and addressing the nation’s swelling federal budget deficit.

Sen. Elizabeth Warren and other progressives

March 16, 2021 - 3:00 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

Five charts that show how Covid-19 stopped the U.S. economy in its tracks

CNBC


The first thing to go was transportation.

As the United States began to shut down last March to stop the spread of Covid-19, before Zoom calls or restaurant shutdowns or endless Netflix binges, people simply stopped going anywhere.

March 12, 2021 - 3:30 pm Closing Bell Story‎, Economy, Energy News
Source: CNBC

Fed’s Williams say high market prices justified by economic growth and low rates

CNBC


New York Federal Reserve President John Williams said Friday that high prices for stocks and other assets are justified in light of a growing economy and low interest rate landscape.

With stocks pushing to new heights on valuations not …

February 19, 2021 - 3:38 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

Yellen says U.S. could return to full employment next year if Congress passes $1.9 trillion stimulus

CNBC


The U.S. could return to full employment in 2022 if President Joe Biden’s $1.9 trillion coronavirus rescue package is passed, Treasury Secretary Janet Yellen said on Sunday.

“There’s absolutely no reason why we should suffer through a long …

February 8, 2021 - 1:00 pm Closing Bell Story‎, Economy, Finance, Politics, Uncategorized