US economy - updates

Rappler's latest stories on US economy

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As U.S. factories falter, White House insists economy like 'a rock'

Oct 06, 2019 - 11:55 PM

American manufacturers are closing down and announcing job cuts, but the US government says the economy and manufacturing are both 'strong as a rock'

LAWRENCE, MASSACHUSETTS - AUGUST 16: Old factories sit along the railroad tracks in Lawrence on August 16, 2019 in Lawrence, Massachusetts. Lawrence, once one of Americas great manufacturing cities with immigrants from around the world coming to work in its textile and wool processing mills, has struggled to find its economic base since the decline of manufacturing. Despite a strong national economy, Lawrence, and many mid-size American cities and towns, are struggling with persistent joblessness, an opioid epidemic and a lack of affordable housing. While Lawrence is witnessing pockets of investment, many of its residents are facing economic hardship. Currently one-third of Lawrence's children live in poverty, 36 percent of residents receive aid under the Supplemental Nutrition Assistance Program and just over 24 percent of residents live in poverty. Spencer Platt/Getty Images/AFP

U.S. Fed cuts key interest rate a quarter point, citing 'uncertainties'

Sep 19, 2019 - 12:40 PM

The United States Federal Reserve lowers the benchmark interest rate by 25 basis points to a target range of 1.75% to 2%, but its policy committee is divided

RATE CUT. United States Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC, on July 31, 2019. Photo by Andrew Caballero-Reynolds/AFP

Rising U.S. exports shrink trade deficit; China imports fall

Sep 05, 2019 - 10:15 AM

The United States trade gap narrows by 2.7% to $54 billion in July 2019, the largest drop in 5 months

U.S. TRADE. Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California, on May 14, 2019. File photo by Mark Ralston/AFP

U.S. sees 'modest' growth, businesses show 'near-term' optimism – Fed

Sep 05, 2019 - 9:50 AM

The United States Federal Reserve cites trade concerns, but says majority of businesses remain optimistic about the near-term outlook

BUSINESSES. Buildings, both residential and commercial, give form to the iconic Manhattan skyline on June 13, 2019 in New York City. Photo by Spencer Platt/Getty Images/AFP

IMF tells Trump: It's not working

Aug 22, 2019 - 10:31 AM

In unusually blunt language, the IMF blog post says US policy moves are counterproductive, won't achieve the desired results, and will slow the global economy

NOT WORKING. File photo of US President Donald Trump. Photo by Saul Loeb/AFP

U.S. Fed cuts key interest rate to 'insure' against global uncertainties

Aug 01, 2019 - 8:15 AM

US President Donald Trump wastes no time in attacking on Twitter, saying the US Federal Reserve's move falls far short of the 'aggressive rate-cutting cycle' he wants

US Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC on July 31, 2019. - The US Federal Reserve cut the benchmark lending rate on Wednesday for the first time in more than a decade, moving to stimulate the economy after a year of sustained pressure from President Donald Trump. Powell signaled Wednesday that the US central bank is not launching a new round of interest rate cuts to boost the economy. With many economists expected at least one more rate cut this year, Powell said the move Wednesday was to "insure" the economy against global uncertainties (Photo by ANDREW CABALLERO-REYNOLDS / AFP)

U.S. Fed to join ranks of other central banks in stimulating economy

Jul 31, 2019 - 2:45 PM

United States President Donald Trump will certainly cheer a rate cut, but economists are torn

U.S. economic growth slows in Q2 2019, 2018 falls below Trump target

Jul 28, 2019 - 10:05 PM

The growth between the 4th quarter of 2018 and the 4th quarter of 2017 is revised to 2.5% from 3%. United States President Donald Trump had repeatedly hailed the 3%.

Photo from Shutterstock

Trump's favorite parts of U.S. economy are also the weakest

Jul 14, 2019 - 10:30 AM

Analysts say the very industries United States President Donald Trump has tried to help have become the weakest links in the otherwise solid economy

FRIEDENS, PA - JUNE 08: Mining equipment sits outside of the entrance to Corsa Coal's Acosta Deep Mine on June 8, 2017 in Friedens, Pennsylvania. The mine, which celebrated its grand opening on Thursday, is expected to create more than 70 new jobs and should produce 400,000 tons of metallurgical coal a year. Justin Merriman/Getty Images/AFP

U.S. Fed opens door to rate cut amid growing 'uncertainties'

Jun 20, 2019 - 2:35 PM

The US Federal Reserve says trade friction and slowing growth worldwide have led many central bankers to feel the case for an interest rate cut has 'strengthened'

RATE UNCHANGED. United States Federal Reserve Chairman Jerome Powell during a press briefing following a Federal Open Market Committee meeting on March 20, 2019, in Washington, DC. Photo by Brendan Smialowski/AFP

American paradox: Deficit widens even as economy grows

Jun 16, 2019 - 10:40 AM

July will mark the longest economic expansion in US history, with continual growth since mid-2009

BUSINESSES. Buildings, both residential and commercial, give form to the iconic Manhattan skyline on June 13, 2019 in New York City. Photo by Spencer Platt/Getty Images/AFP

IMF upgrades U.S. growth forecast but warns of rising risks

Jun 06, 2019 - 10:35 PM

The International Monetary Fund expects the United States economy to grow by 2.6% in 2019, but says the country must quickly resolve its trade war with China

Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California on May 14, 2019. - Global markets remain on red alert over a trade war between the two superpowers China and the US, that most observers warn could shatter global economic growth, and hurt demand for commodities like oil. (Photo by Mark RALSTON / AFP)

U.S. Federal Reserve leaves key rate unchanged amid mixed economic signals

May 02, 2019 - 5:25 PM

The United States Federal Reserve votes unanimously to keep the benchmark interest rate in a range of 2.25% to 2.5%

Federal Reserve Board Chair Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC, on May1, 2019. - The US Federal Reserve decided Wednesday to keep its benchmark interest rate unchanged amid mixed signals about the direction of the US economy. (Photo by MANDEL NGAN / AFP)

U.S. shutdown sends economy into uncharted waters

Jan 13, 2019 - 5:40 PM

The United States government shutdown is squeezing an estimated $1.2 billion a week out of the country's economy, says an analyst

(FILES) In this file photo taken on December 27, 2018,a stop sign is seen near the White House during a government shutdown in Washington, DC. - The Trump administration's paralysis triggered by the shutdown could have unexpected consequences, making economic statistics unclear just as the markets are hyper-reactive to any whiff of uncertainty. On the ninth day of the game of chicken between President Donald Trump and Democrats in Congress, the publication and recording of statistical indicators will be delayed. (Photo by Andrew CABALLERO-REYNOLDS / AFP)

Tokyo stocks dive more than 5% on fears over U.S. economy

Dec 25, 2018 - 9:31 AM

(UPDATED) The Nikkei 225 index dips below the 20,000 level for the first time since September 2017

U.S. stocks dive after brutal holiday-shortened session

Dec 25, 2018 - 8:31 AM

The Dow falls 2.9% to 21,792.20 after its worst week since the 2008 financial crisis

U.S. tops global competitiveness rating, despite 'worrying' trends – WEF

Oct 17, 2018 - 10:46 AM

The World Economic Forum uses a new methodology for the 2018 edition of its annual Global Competitiveness Report to reflect shifts in a world increasingly transformed by new, digital technologies

U.S. Fed raises benchmark interest rate

Sep 27, 2018 - 11:55 AM

US President Donald Trump says he is 'not happy' about the move of the central bank

U.S. FEDERAL RESERVE. Chairman Jerome Powell speaks during a news conference in Washington, DC on March 21, 2018. File photo by Alex Wong/Getty Images/AFP

U.S. Fed to hold fire amid rising market sensitivity

Apr 29, 2018 - 11:50 PM

Investors will be looking for signs of how concerned US officials appear to be about rising wages and inflation

WASHINGTON, DC - MARCH 21: U.S. Federal Reserve Chairman Jerome Powell speaks during a news conference March 21, 2018 in Washington, DC. The Fed today as expected announced a quarter-point increase in interest rates under its new chairman. Alex Wong/Getty Images/AFP

Putin, Trump discuss North Korea in phone call

Dec 15, 2017 - 11:26 AM

The White House says the two 'discussed working together to resolve the very dangerous situation in North Korea'

NORTH KOREA. In this file photo, US President Donald Trump (L) chats with Russia's President Vladimir Putin as they attend the APEC Economic Leaders' Meeting, part of the Asia-Pacific Economic Cooperation (APEC) leaders' summit in the central Vietnamese city of Danang on November 11, 2017. File photo by Mikhail Klimentyev/Sputnik/AFP

Trump taps Jerome Powell to lead U.S. Federal Reserve

Nov 03, 2017 - 11:56 AM

President Donald Trump has decided not to reappoint current Fed Chair Janet Yellen, the first woman to oversee monetary policy, despite praising her excellent management of the US economy over the past 4 years

NOMINEE. US President Donald Trump walks with Jerome Powell, his nominee to be Federal Reserve chairman, at the White House in Washington, DC, on November 2, 2017. Photo by Nicholas Kamm/AFP

U.S. Fed: New rate hike likely coming 'soon'

May 25, 2017 - 10:35 AM

Most analysts expect two more rate increases this year likely in June and in September but there are now doubts over that schedule

RATE HIKE. Federal Reserve Board Chair Janet Yellen holds a news conference after the central bank announced an increase in the benchmark interest rate following a Federal Open Market Committee meeting on December 14, 2016 in Washington, DC. File photo by Chip Somodevilla/Getty Images/AFP

U.S. Fed raises benchmark interest rate a quarter point

Mar 16, 2017 - 7:55 AM

But US Federal Reserve Chair Janet Yellen says they have yet to discuss the potential impact of US President Donald Trump s planned tax cuts and infrastructure spending

WASHINGTON, DC - MARCH 15: Federal Reserve Board Chairwoman Janet Yellen holds a news conference following a meeting of the Federal Open Market Committee March 15, 2017 in Washington, DC. Yellen announced that the Fed raised its benchmark interest rate for the third time since the 2009 global financial crisis, earlier than markets anticipated at the beginning of this year. Chip Somodevilla/Getty Images/AFP

IMF's Lagarde 'optimistic' about U.S. economy

Feb 12, 2017 - 7:25 PM

Christine Lagarde predicts tax reform and more investment in infrastructure are both likely under US President Donald Trump

International Monetary Fund (IMF) managing director Christine Lagarde attends a session at the Congress centre on the second day of the World Economic Forum, on January 18, 2017 in Davos. With the world's elite holding its breath until Donald Trump becomes the next US president, outgoing Vice-President Joe Biden addresses the World Economic Forum in Davos / AFP PHOTO / FABRICE COFFRINI

For the U.S. Fed, 'Trump-onomics' not yet in effect

Jan 29, 2017 - 12:55 PM

The outlook looks a bit stronger both in the United States and the world says an economist ahead of another meeting for the policy setting Federal Open Market Committee

STANFORD, CA - JANUARY 19: Federal Reserve Board Chairwoman Janet Yellen discusses monetary policy and the economic outlook at Stanford University on January 19, 2017 in Stanford, California. Elijah Nouvelage/Getty Images/AFP

Trump touts new Wal-Mart, GM, and Bayer-Monsanto investments

Jan 18, 2017 - 4:15 PM

The companies unveil plans for job creations new stores research and assembly plants as US President elect Donald Trump prepares to take office

(FILES) This file photo taken on November 23, 2012 shows shoppers at a Walmart store in Paramount, California. The US retail giant Wal-Mart announced January 17, 2017 it wants to create 10,000 jobs in the United States in 2017, a few days before the inauguration of Donald Trump, who has been pressing companies to expand their business on US soil.  / AFP PHOTO / FREDERIC J. BROWN

Citing Trump 'uncertainty,' Fed says faster rate hikes possible

Jan 05, 2017 - 1:05 PM

US President elect Donald Trump s pledge to slash taxes and ramp up infrastructure spending could boost demand above sustainable levels

WASHINGTON, DC - DECEMBER 14: Federal Reserve Board Chair Janet Yellen holds a news conference after the central bank announced an increase in the benchmark interest rate following a Federal Open Market Committee meeting December 14, 2016 in Washington, DC. With unemployment low and concern over inflation on the rise, the central bank decided to raise the federal interest rate by a quarter of a percentage point, moving from 0.25-0.50 percent to a range of 0.50 and 0.75 percent. Chip Somodevilla/Getty Images/AFP

Trump's victory challenges Fed policy, independence

Nov 10, 2016 - 3:10 PM

Some analysts say a rate increase could again be off the table after Donald Trump won the US presidential election

This combination of file photos shows Federal Reserve Board Chair Janet Yellen(L) and Reuplican presidential nominee Donald Trump. When the US Federal Reserve issues its next interest rate decision on November 2, 2016, the dawn of a bitterly fought presidential election day will be only 136 hours away. Trailing in opinion polls, Republican nominee Donald Trump has lambasted the central bank and accused it of artificially suppressing rates to help President Barack Obama -- a charge Fed Chair Janet Yellen has emphatically denied.  / AFP PHOTO / DESK

US Federal Reserve keeps key interest rate on hold

Sep 22, 2016 - 11:10 PM

Fed Chair Janet Yellen denies that politics is a factor in the decision making of the Federal Open Market Committee

Federal Reserve Chair Janet Yellen speaks during a press conference following the announcement that the Fed will leave rates unchanged, in Washington, DC, September 21, 2016. The Federal Reserve kept its benchmark interest rate unchanged for the sixth straight meeting Wednesday, saying it needs to see more signs of strength in the US economy. / AFP PHOTO / SAUL LOEB

IMF's Lagarde warns G20 to avoid 'low-growth trap'

Sep 02, 2016 - 12:00 AM

UPDATED Not since the early 1990s has the world economy been so weak for such a long time says the International Monetary Fund s Christine Lagarde

International Monetary Fund Managing Director Christine Lagarde speaks at the Center for Global Development in Washington, DC, July14, 2016, marking the 15th anniversary of the Center. / AFP PHOTO / JIM WATSON

Divided Fed wanted to keep rate 'options open'

Aug 18, 2016 - 11:25 PM

Minutes of the US Federal Reserve s July meeting show inflation is foremost on policy makers minds

(FILES) This file photo taken on August 9, 2011 shows the US Federal Reserve building in Washington, DC.  US Federal Reserve policy makers last month believed risks to the US economy had lessened but wanted to keep their interest rate policy "options open", according to minutes released August 17, 2016. / AFP PHOTO / KAREN BLEIER

Fed leaves rates unchanged but says US economy improving

Jul 28, 2016 - 5:00 PM

There s still the possibility of an increase in the benchmark federal funds rate by December

NEW YORK, NY - JULY 27: American flags are displayed outside the New York Stock Exchange (NYSE) during the evening of July 27, 2016 in New York City. The dollar fell Wednesday as the U.S. Federal Reserve's latest policy statement caused investors to reassess expectations for interest rate increases in the coming months. Kena Betancur/Getty Images/AFP

US economy still tracking 'modest' growth – Fed report

Jul 14, 2016 - 6:00 PM

The outlook was generally positive across broad segments of the economy including retail sales manufacturing and real estate says the US Federal Reserve

epa05344762 US Federal Reserve Chair Janet Yellen (C) attends an open meeting of the Board of Governors of the Federal Reserve System, with Vice Chair Stanley Fischer (L) and Federal Reserve Governor Daniel Tarullo (R); at the Marriner S. Eccles Federal Reserve Board Building, in Washington, DC, USA, 03 June 2016. EPA/MICHAEL REYNOLDS

Fed was divided in June over hiking interest rates soon

Jul 07, 2016 - 1:30 PM

Almost all participants said the weak May labor report led to growing uncertainty according to minutes of the meeting

epa05367807 US Federal Reserve Chair Janet Yellen speaks at a press conference after announcing that the Federal Reserve plans to leave interest rates unchanged in Washington, DC, USA, 15 June 2016. Yellen hinted that the Federal reserve may still increase interest rates on two occasions before the end of the year. EPA/JIM LO SCALZO

IMF warns the US over high poverty, inequality

Jun 23, 2016 - 1:00 PM

The International Monetary Fund lowers its outlook for economic growth in the United States where 46 7 million people are living in poverty

epa04263269 A homeless man, who did not want to identified, sits on a sidewalk in New York, New York, USA, 16 June 2014. A report released earlier this year showed that nearly half of of the city's population is living near poverty levels. EPA/JUSTIN LANE

Fed keeps interest rate steady as Brexit vote looms

Jun 16, 2016 - 4:35 PM

It is a decision that could have consequences for economic and financial conditions in global financial markets says Janet Yellen about Britain s June 23 referendum

epa05367974 US Federal Reserve Chair Janet Yellen speaks at a press conference after announcing that the Federal Reserve plans to leave interest rates unchanged in Washington, DC, USA, 15 June 2016. Yellen hinted that the Federal reserve may still increase interest rates on two occasions before the end of the year. EPA/JIM LO SCALZO

Fed Chair Yellen says poor US jobs report 'concerning'

Jun 07, 2016 - 2:15 PM

But Yellen also says the overall labor market situation is quite positive

PHILADELPHIA, PA - JUNE 6: Federal Reserve Chair Janet Yellen arrives for her speech on economic outlook and monetary policy on June 6, 2016 in Philadelphia, Pennsylvania. Today is the last time Ms. Yellen will speak publicly before the blackout period preceding the Federal Open Market Committee meeting on June 15, 2016. Jessica Kourkounis/Getty Images/AFP

Fed minutes: Door still open for a June rate hike

May 19, 2016 - 3:00 PM

US central bank policymakers are unexpectedly open to a rate hike in June

epa05288807 Chair of the Board of Governors of the Federal Reserve System Janet Yellen, with Vice Chairman Stanley Fischer (L) and Governor Daniel Tarullo (R), participates in a meeting 'to discuss a proposed rule to establish the Net Stable Funding Ratio, as well as a proposed rule establishing restrictions on qualified financial contracts of systemically important banking organizations.' at the Federal Reserve in Washington, DC, USA, 03 May 2016. EPA/SHAWN THEW

Fed frets less over world economy; June rate hike odds rise

Apr 28, 2016 - 3:35 PM

The Federal Open Market Committee simply says it will closely monitor inflation indicators and global economic and financial developments

NEW YORK, NY - APRIL 27: Traders work on the floor of the New York Stock Exchange (NYSE) on April 27, 2016 in New York, New York. In a not unexpected move, Federal Reserve officials left short-term interest rates unchanged Wednesday citing lingering concerns about low inflation and global economic developments. Spencer Platt/Getty Images/AFP

Yellen confident in US growth but stresses 'gradual' rate hikes

Mar 30, 2016 - 1:55 PM

Federal Reserve Chair Janet Yellen says the US economy is remarkably resilient but there are broader concerns about global financial developments

NEW YORK, NY - MARCH 29: Federal Reserve Board Chairwoman, Janet Yellen speaks at the Economic Club of New York on March 29, 2016 in New York City. Due to an easing of domestic financial conditions, Yellen said that growth in the United States economy remained on track. Spencer Platt/Getty Images/AFP

Feeling global slowdown, Fed keeps interest rate unchanged

Mar 17, 2016 - 2:25 PM

The Federal Open Market Committee expects the US economy to grow only 2 2 in 2016

epa05214765 Chair of the US Federal Reserve Janet Yellen responds to a question from the news media during a press conference at the Federal Reserve in Washington, DC, USA, 16 March 2016. The press conference comes at the conclusion of a two-day meeting of the Federal Open Market Committee (FOMC), led by Fed Chair Yellen. EPA/SHAWN THEW

US economic growth in 2014 fastest since 2010

Jan 31, 2015 - 8:43 AM

The firming recovery from the devastating Great Recession of 2008 2009 is marked by improved consumer confidence the best year of job creation since 1999 and a surge in business profits

Obama to America: Shadow of crisis has passed

Jan 21, 2015 - 8:38 AM

UPDATED Emboldened by a stronger economy and better approval ratings Obama calls for a new chapter in US history that ushers in a fairer economy with a better shake for the middle class

STATE OF THE UNION. US President Barack Obama delivers the State of The Union address on January 20, 2015, at the US Capitol in Washington, DC. Mandel Ngan/Pool/AFP

Indonesian rupiah at weakest since Asian financial crisis

Dec 15, 2014 - 3:16 PM

A strengthening US economy has led investors to pull out of riskier emerging markets

DOWN. Indonesian rupiah has been hit by signs of recovery in the American economy. File photo by AFP

Shutdown averted for now as Congress extends US funding

Dec 14, 2014 - 7:41 AM

The four day extension is the second passed by Congress as leaders struggle to finalize the spending bill

UNDER REPAIR, LIKE CONGRESS ITSELF? Cocooned in scaffolding, the US Capitol dome is seen in a reflecting pool on October 28, 2014 in Washington, DC as it undergoes its first comprehensive repairs in more than half a century a century. Paul J. Richards/AFP

Online sales spike on a less chaotic Black Friday

Nov 30, 2014 - 8:31 AM

In United States shopping malls there were shorter lines and fewer packs of frenzied shoppers on Thursday night and Friday

Asian shares mixed as Ukraine tensions trump US data

Aug 29, 2014 - 10:39 PM

After enjoying a rally over the past few weeks investors were spooked by claims that Russian forces were inside Ukraine helping support pro Kremlin separatists

US economy grew at robust 4.2% pace in 2nd quarter

Aug 28, 2014 - 9:52 PM

The 4 2 annual pace in the April June period followed a 2 1 contraction in the first quarter

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Yellen: US economy looking healthy after winter freeze

May 08, 2014 - 11:51 AM

But with housing recovery slowing and unemployment still elevated the economy still needs high degree of monetary support

A view of the White House in Washington, DC. AFP PHOTO/Brendan SMIALOWSKI

US economy slows to mere 0.1% growth in first quarter

Apr 30, 2014 - 9:26 PM

The slump was driven by a downturn in exports and business investment and a larger decrease in inventory investment