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Economic News and Analysis

The latest news and analysis about the health of the US economy.

Futures Rise as US Data Boost Fed Rate-Cut Bets: Markets Wrap

(Bloomberg) -- European stocks are set to join a rally in Asia and Wall Street as cooling US core inflation kept alive the prospect of Federal Reserve easing this year. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesNYPD Reforms Car Chase Policy Amid Rising Crashes, InjuriesChurches, Cinemas — and Moon Artifacts — Top List of Endangered MonumentsEur

Bloomberg 1 hour ago

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Bitcoin Flirts With $100,000 Level as Angst Over Fed Path Eases

(Bloomberg) -- Bitcoin hovered near $100,000 after notching its biggest gain of the new year on reassuring US inflation data that lifted global markets by reviving bets on further Federal Reserve interest-rate cuts.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesNYPD Reforms Car Chase Policy Amid Rising Crashes, InjuriesChurches, Cinemas — and Moon A

Brief relief for markets after tame US inflation

Global stocks and non-dollar currencies found some respite from their inflation-related anxieties, buoyed by a strong start to the earnings season and a softish U.S. core inflation reading that revived hopes for Fed rate cuts this year. But the relief rally may be short-lived, with U.S. inflation still looking a bit too warm for comfort - and potentially facing upward pressure if the incoming Trump administration pursues aggressive policies on tariffs and taxes. While the just-about-soft U.S. core inflation figure for December lifted sentiment, dragging Treasury yields lower and boosting stocks, analysts cautioned that the annual rate of 3.2% was still a bit on the high side, with the Fed likely to stay on hold for a while longer.

Oil Holds Gain as IEA Warns on Russia Curbs and Stockpiles Ebb

(Bloomberg) -- Oil held a powerful, early-year advance on mounting concerns about risks to global supplies, and as commercial crude inventories in the US posted their longest run of declines since 2021.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesNYPD Reforms Car Chase Policy Amid Rising Crashes, InjuriesChurches, Cinemas — and Moon Artifacts — To

Treasury nominee plans to say at confirmation hearing that Trump will unleash 'economic golden age'

U.S. Treasury nominee Scott Bessent plans to say Thursday during his confirmation hearing that President-elect Donald Trump has an opportunity to unleash “a new economic golden age." According to prepared testimony given to The Associated Press, Bessent will say the U.S. must secure vulnerable supply chains, levy sanctions to address national security concerns “and critically, we must ensure that the U.S. dollar remains the world’s reserve currency.” Lawmakers on Capitol Hill are set to question Bessent's stance on taxes, tariffs, trade and other issues during his confirmation hearing before the Senate Finance Committee.

Housing inflation pressures ease in encouraging sign for Fed

The latest Consumer Price Index showed that housing inflation pressures continued to moderate in December in an encouraging sign for the Federal Reserve.

Core CPI rises less than forecast as inflation pressures ease slightly in December

A key inflation metric eased for the first time since July as investors debate the Federal Reserve's next interest rate decision.

The fight over H-1B workers highlights a core problem with the US economy: Labor shortages

Though visas and immigration are hot topics, many types of employers across the country are struggling to hire qualified workers.

The elaborate visa system that enables foreigners to work in the US

The federal government has an elaborate system of visas that allow foreigners to work in the US — a topic that is sure to heat up as Donald Trump takes office.

December jobs report shows unemployment fell to 4.1%, 256,000 jobs added to finish 2024 on high note

December's jobs report will be the final look at the labor market before the Federal Reserve announces its next interest rate decision on Jan. 31.

Fed officials fretted about 'likely effects' of Trump trade and immigration policies

Almost all Federal Reserve officials agreed in their last meeting that "upside risks to the inflation outlook had increased" due in part to the "likely effects" of expected changes in trade and immigration policies.

Here's why the US dollar is 'priced to perfection' — and why it could move even higher

The US dollar's rise has largely been driven by two catalysts: Trump's election and the recalibration of future Fed easing.

US job openings inch higher as hiring, quitting rates drop amid broader labor slowdown

The quits rate and hiring rate are now lower than they were before the pandemic.

Trudeau resignation opens door to Trump 'going easy on trade tariffs' with Canada

The Canadian loonie is reacting to an upcoming change of leadership and Trump's universal tariff threats.

Fed officials signal more gradual approach to lowering rates as 2025 begins

Federal Reserve governor Lisa Cook said Monday it makes sense to lower interest rates more gradually given resilience in the job market and stickier-than-expected inflation, the latest central bank official to offer a cautious view as 2025 begins.

Oil rises as US inventory decline heightens supply concerns

Oil prices gained for a second session on Thursday, supported by worries over potential supply disruptions amid U.S. sanctions on Russia, a larger-than-forecast fall in U.S. crude oil stocks, and an improving global demand outlook. Brent crude futures rose 23 cents, or 0.3%, to $82.26 per barrel by 0731 GMT, after rising 2.6% in the previous session to their highest since July 26 last year. U.S. crude oil stocks fell last week to their lowest since April 2022 as exports rose and imports fell, the Energy Information Administration (EIA) said on Wednesday.

Bessent to Say Dollar’s Global Status Is Critical to US Economy

(Bloomberg) -- Maintaining the dollar as the world’s reserve asset is critical to US economic health and the nation’s future, Scott Bessent, Donald Trump’s nominee for Treasury secretary, will tell a Senate committee, according to prepared remarks.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesNYPD Reforms Car Chase Policy Amid Rising Crashes, Injur

Gold Holds Gains as US Inflation Data Boosts Rate-Cut Optimism

(Bloomberg) -- Gold held a two-day advance, after a surprise slowdown in US inflation revived expectations for Federal Reserve rate cuts this year.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesNYPD Reforms Car Chase Policy Amid Rising Crashes, InjuriesChurches, Cinemas — and Moon Artifacts — Top List of Endangered MonumentsBullion traded around $26

Texas developer at the center of attorney general's impeachment pleads guilty to federal charge

A real estate developer whose relationship with Texas Attorney General Ken Paxton was at the center of the Republican's historic impeachment trial in 2023 pleaded guilty Wednesday to a federal charge of lying to a financial institution. The plea by Nate Paul, whose company is based in Texas, was entered before a U.S. magistrate judge and still must be reviewed by a district judge, court documents show.

Canadian minister warns that Americans will experience economic pain from Trump tariffs

Canada's energy minister came to Washington this week to warn U.S. lawmakers about President-elect Donald Trump's tariffs threat on Canada: They'd inflict economic pain on Americans, with higher prices and job losses. Jonathan Wilkinson, Canada's minister of energy and natural resources, said he feels obligated to sound the alarm about the inflationary risks being created by a president who was elected in large part on the promise of bringing down prices. "It will mean higher gas prices, it will mean higher food prices, it will mean higher natural gas prices for heating people's homes,” he told The Associated Press on Wednesday.

Bonds Have Banner Day as Inflation Report Revives Fed-Cut Bets

(Bloomberg) -- US government bonds had their best day in months after benign inflation data revived the case for additional Federal Reserve interest-rate cuts.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesNYPD Reforms Car Chase Policy Amid Rising Crashes, InjuriesChurches, Cinemas — and Moon Artifacts — Top List of Endangered MonumentsThe rally sla