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Economic News and Analysis

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

In a September 2024 speech at the New York Economic Club, Trump said that, if elected, he would create a sovereign wealth fund to invest in "great national endeavors", including major infrastructure projects such as highways and airports. The Bloomberg report said Elon Musk and Stephen Feinberg, the billionaire co-founder of Cerberus Capital Management whom Trump has nominated as deputy defense secretary, are among those spearheading the discussion about using the DFC both more like a sovereign fund and as a tool to radically alter America's foreign aid strategy.

Trump team plans wealth-fund revamp for federal agency, Bloomberg News reports

In a September 2024 speech at the New York Economic Club, Trump said that, if elected, he would create a sovereign wealth fund to invest in "great national endeavors", including major infrastructure projects such as highways and airports. The Bloomberg report said Elon Musk and Stephen Feinberg, the billionaire co-founder of Cerberus Capital Management whom Trump has nominated as deputy defense secretary, are among those spearheading the discussion about using the DFC both more like a sovereign fund and as a tool to radically alter America's foreign aid strategy.
Reuters 16 hours ago
Oil Notches Fourth Weekly Advance as Sanctions Threaten Supplies

Oil Notches Fourth Weekly Advance as Sanctions Threaten Supplies

(Bloomberg) -- Oil notched its fourth straight weekly gain, the longest run since July, as US sanctions posed growing risks to global supply in a market already tightened by cold weather.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyNYC Commuters Get New Way to Dodge Traffic: $95 Helicopter RidesScaramucci, Ackman Donate to Whitney Tilson’s NYC Mayoral RunIn a City of Sprawl, Wildfire Evacuation Is Getting HarderWill Americans Ever Lose Their Taste for Telewor
Bloomberg 18 hours ago
ING
Federal Reserve says it will leave climate change organization

Federal Reserve says it will leave climate change organization

The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how regulation of the financial system could help combat climate change. The Fed's membership has been criticized by Republicans in Congress. In a short statement, the Fed said it had “appreciated” working with the Network of Central Banks and Supervisors for Greening the Financial System.
Associated Press Finance 18 hours ago
Federal Reserve withdraws from global regulatory climate change group

Federal Reserve withdraws from global regulatory climate change group

WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement, the Fed said it was exiting the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) because its increasingly broadened scope had fallen outside the Fed's statutory mandate.
Reuters 18 hours ago
Oil Tankers U-Turn and Buyers Go Elsewhere as Russia Sanctions Bite

Oil Tankers U-Turn and Buyers Go Elsewhere as Russia Sanctions Bite

(Bloomberg) -- The most aggressive Western sanctions imposed on Russia’s oil sector since Moscow’s 2022 invasion of Ukraine threaten to disrupt global supply as buyers — led by China and India — scour the Middle East for alternative suppliers. Some estimates suggest the measures could halve Russian oil exports and their introduction has driven up Brent futures by as much as $5 a barrel in recent days.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyNYC Commuters
Bloomberg 20 hours ago

Featured Content

Investors cheered December's inflation data. Experts say US economy is not 'out of the woods' yet.

Investors cheered December's inflation data. Experts say US economy is not 'out of the woods' yet.

December's CPI print finally showed some relief in core inflation. But the threat of sticky prices is still a reality for most economists.
December retail sales signal strong economic growth to end the year

December retail sales signal strong economic growth to end the year

The December retail sales report comes as investors are closely watching for signs of health in the consumer as the Federal Reserve is expected to hold interest rates higher for longer than initially hoped.
Housing inflation pressures ease in encouraging sign for Fed

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

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

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 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 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

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

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

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.
US drillers cut oil and gas rigs to lowest since Dec 2021, Baker Hughes says

US drillers cut oil and gas rigs to lowest since Dec 2021, Baker Hughes says

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row to the lowest since December 2021, energy services firm Baker Hughes said in its closely followed report on Friday. Baker Hughes said this week's decline puts the total rig count down 40 rigs, or 6% below this time last year. Baker Hughes said oil rigs fell by two to 478 this week, their lowest since November, while gas rigs also fell by two to 98, their lowest since September.
Reuters 20 hours ago
BKR
Treasury Futures Traders Shake Up Positioning on Fed Cut Bets

Treasury Futures Traders Shake Up Positioning on Fed Cut Bets

(Bloomberg) -- Futures traders are shaking up their bets in the Treasury market after benign inflation data and dovish comments from a Federal Reserve official.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyNYC Commuters Get New Way to Dodge Traffic: $95 Helicopter RidesScaramucci, Ackman Donate to Whitney Tilson’s NYC Mayoral RunIn a City of Sprawl, Wildfire Evacuation Is Getting HarderWill Americans Ever Lose Their Taste for Telework?Changes over the past two
Bloomberg 21 hours ago
Bond Bust Spurs Debate About Whether Fed Cuts Were a Blunder

Bond Bust Spurs Debate About Whether Fed Cuts Were a Blunder

(Bloomberg) -- When Federal Reserve officials gather in two weeks they’re likely to ponder a puzzling trend in markets: Since September, as they lowered short-term interest rates by a full percentage point, longer-term government bond yields moved by a roughly equal amount — but in the opposite direction. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyNYC Commuters Get New Way to Dodge Traffic: $95 Helicopter RidesScaramucci, Ackman Donate to Whitney Tilson’s N
Bloomberg yesterday
^TNX
IMF Raises Global Economic Growth Forecast on Stronger US Demand

IMF Raises Global Economic Growth Forecast on Stronger US Demand

(Bloomberg) -- The International Monetary Fund upgraded its global growth forecast for this year, spurred by stronger-than-expected US demand and slowing inflation worldwide that will let central banks continue to cut interest rates.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyNYC Commuters Get New Way to Dodge Traffic: $95 Helicopter RidesScaramucci, Ackman Donate to Whitney Tilson’s NYC Mayoral RunIn a City of Sprawl, Wildfire Evacuation Is Getting HarderWi
Bloomberg yesterday
Fed to hold rates in Jan as Trump's policies stir inflation worries: Reuters poll

Fed to hold rates in Jan as Trump's policies stir inflation worries: Reuters poll

The U.S. Federal Reserve will hold interest rates steady on Jan. 29 and resume cutting in March, according to a slim majority of economists polled by Reuters, as policymakers digest an expected barrage of new economic policies from Washington. The latest survey, taken in the week before U.S. President-elect Donald Trump's inauguration on Jan. 20, also suggests lingering inflation pressures may only allow the Fed to cut rates once more. Concerns around Trump's pledges, ranging from across-the-board tariffs, extending tax cuts, to deportations of illegal immigrants, have already contributed to a dramatic rise in U.S. Treasury yields before he takes office.
Reuters yesterday
SLB boosts dividend and buybacks, but warns of oil oversupply

SLB boosts dividend and buybacks, but warns of oil oversupply

Oilfield company SLB raised its quarterly dividend and accelerated share repurchases on Friday as its fourth-quarter profit beat expectations, while also warning of flat 2025 revenue due to an oil oversupply. The world's largest oilfield services company increased its quarterly dividend by 3.6%, and said it would buy back $2.3 billion of shares at an "accelerated" pace. First-quarter and full-year revenue would largely be unchanged from the same periods last year, as excess oil supply limits oilfield activity, the company said.
Reuters 21 hours ago