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Tag: Breaking News: Economy

US TikTok buyout further extended until November elections

US TikTok buyout further extended until November elections

In a bid to buy stakes in the video app TikTok, US regulators are drafting a deal with ByteDance Ltd., in order to solve security issues. Oracle Corp., and other companies leading the deal are expecting a delay in the matters to get resolved, and are ready for it to be dragged until after the […]

Eric Rosengren says Fed ‘has acted quickly’ as markets froze

Eric Rosengren says Fed ‘has acted quickly’ as markets froze

Boston Federal Reserve President Eric Rosengren said Wednesday the central bank moved rapidly to address deterioration across multiple parts of the financial market that were crippled due to the coronavirus crisis. “At the central bank we’re focused on addressing, and blunting, the economic effects of the pandemic,” Rosengren said in remarks prepared for an online […]

Consumer confidence tumbles in March as coronavirus cases surge

Consumer confidence tumbles in March as coronavirus cases surge

A measure of U.S. consumer confidence fell sharply in March as people grapple with the global coronavirus outbreak.¬† The Conference Board said Tuesday its consumer confidence index dropped to 120 this month from¬†132.6 in February. To be sure, the print was better than the 110 number economists polled by Dow Jones expected. “Consumer confidence declined […]

Fed moves to help businesses get short-term funding in commercial paper market

Fed moves to help businesses get short-term funding in commercial paper market

The Federal Reserve said Tuesday it is providing help to companies that are having a hard time getting the short-term funding they need to operate. In a move much anticipated on Wall Street, the bank announced a special credit facility to purchase corporate paper from issuers that have been having a difficult time finding buyers […]

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program

The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to essentially zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus. The new fed funds rate, used as […]

The Fed details moves to buy Treasurys across all durations, starting with 30-year bond

The Fed details moves to buy Treasurys across all durations, starting with 30-year bond

The New York Federal Reserve will begin buying Treasurys across the yield spectrum as part of its efforts to help the financial system through the coronavirus scare. In an announcement Friday, the central bank said it was accelerating to Friday purchases it announced a day before. The move comes in response to market demand that […]

edged higher as food costs rose

edged higher as food costs rose

A customer browses products at a Walmart store in Burbank, California Patrick T. Fallon | Bloomberg | Getty Images U.S. consumer prices increased slightly last month, driven higher by more expensive food. The Labor Department said Wednesday that the consumer price index ticked up 0.1% last month, matching its January increase. Prices rose 2.3% compared […]

nonfarm payrolls up 273,000; unemployment 3.5%

nonfarm payrolls up 273,000; unemployment 3.5%

A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019. Rebecca Cook | Reuters Nonfarm payrolls grew far more than expected in February as companies continued to hire amid […]

ADP Moody’s private payrolls February 2020 beat estimates

ADP Moody’s private payrolls February 2020 beat estimates

U.S. companies kept adding jobs in February despite the coronavirus scare, as private payrolls expanded well above the pace that Wall Street had anticipated. Employment excluding government jobs rose by 183,000 for the month, according to a report Wednesday from Moody’s Analytics, topping the 155,000 that economists surveyed by Dow Jones had expected. The job […]