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U.S. posts $129 billion January deficit on calendar shifts, higher outlays
WASHINGTON, Feb 12 (Reuters) - The federal government posted a $129 billion budget deficit for January, up sharply from an unusually low $22 billion deficit in January 2024 due to calendar shifts in benefit payments as well as outlays for Social Security, Medicare, interest and other items that grew...Reuters
Wed, Feb 12
Fed's Bostic: Not comfortable cutting rates again until there is more clarity on inflation, other policies
WASHINGTON, Feb 12 (Reuters) - Atlanta Federal Reserve President Raphael Bostic said on Wednesday it is not clear when the Fed can cut interest rates again given uncertainty around the path of inflation and the scope of possible changes to tariff and other policies coming from the Trump administrati...Reuters
Wed, Feb 12
Fed's Powell says central bank still has access to data it needs
Refiles to add Elon Musk's first name in 4th paragraphBy Michael S. DerbyNEW YORK, Feb 12 (Reuters) - Federal Reserve Chairman Jerome Powell said Wednesday the central bank has not been cut off from any data it needs to do its work. Speaking before a House panel as the Trump administration has b...Reuters
Wed, Feb 12
Fed's Goolsbee: more CPI reports like January's would mean job on inflation not done
Feb 12 (Reuters) - Chicago Federal Reserve Bank President Austan Goolsbee on Wednesday said that he did not want to read too much into the hotter-than-expected inflation reading for January, as it followed two earlier months of more encouraging data.But in an interview with the New York Times he sai...Reuters
Wed, Feb 12
BREAKINGVIEWS-Sticky inflation is a quagmire for tariff plans
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.By Gabriel Rubin WASHINGTON, Feb 12 (Reuters Breakingviews) - The U.S. economy is still running too hot for comfort. Prices rose in January by 0.5% from the prior month, nudging the annual increase up to the psyc...Reuters
Wed, Feb 12
WRAPUP 2-US consumer inflation increases at fastest pace in nearly 1-1/2 years in January
Adds details from report, analyst comments throughoutConsumer prices increase 0.5% in JanuaryShelter, food, gasoline lead broad rise in pricesConsumer price index rises 3.0% year-on-yearCore CPI gains 0.4%; advances 3.3% year-on-yearBy Lucia Mutikani WASHINGTON, Feb 12 (Reuters) - U.S. consumer p...Reuters
Wed, Feb 12
Fed's Powell: Will alert Congress if Musk associates seek access
By Michael S. DerbyNEW YORK, Feb 12 (Reuters) - Federal Reserve Chair Jerome Powell said Wednesday Elon Musk's associates charged with promoting government efficiency have not approached the Fed for access to its systems. Powell, speaking before a House panel, said he would alert Congress if acc...Reuters
Wed, Feb 12
Powell cautions about reading too much into hot CPI reading
Feb 12 (Reuters) - Federal Reserve Chair Jerome Powell cautioned against reading too much into data on Wednesday showing the largest acceleration in the Consumer Price Index in more than a year, while acknowledging it was substantially above forecasts."The CPI reading was above almost every fore...Reuters
Wed, Feb 12
Fed's Powell says central bank still has access to data it needs
NEW YORK, Feb 12 (Reuters) - Federal Reserve Chairman Jerome Powell said Wednesday the central bank has not been cut off from any data it needs to do its work. Speaking before a House panel as the Trump Administration has been stripping government websites from various data sets, Powell he wasn'...Reuters
Wed, Feb 12
Fed's Bostic: labor is good, but inflation still needs monitoring
Federal Reserve (Fed) Bank of Atlanta President added his own soundbites to the noise machine of Fed headlines on Wednesday, noting that despite still-strong labor figures, US inflation continues to remain a sticking point, especially after US Consumer Price Index (CPI) inflation figures ticked higher in January.Fxstreet
Wed, Feb 12
US manufacturers face growing headwinds from trade tensions
U.S. manufacturing expanded in January for first time in two yearsTariffs create uncertainty for U.S. manufacturers' investment plansMetals tariffs can help millers but cost companies that use raw materialsBy Timothy Aeppel Feb 12 (Reuters) - Austin Ramirez until recently planned to build a n...Reuters
Wed, Feb 12
Fed's Powell says good productivity could lift GDP to sustained 2% gains
NEW YORK, Feb 12 (Reuters) - Federal Reserve Chairman Jerome Powell said Wednesday robust productivity levels could help keep U.S. growth strong. Noting half a decade of good productivity gains, Powell told a house panel that sustainable overall growth rates of 2% are now possible to achieve.Reuters
Wed, Feb 12
German Bund yields rise after US data, Fed, tariffs still in focus
By Stefano Rebaudo Feb 12 (Reuters) - German government bond yields rose by over 10 bps in the last two days as Federal Reserve Chair Jerome Powell said the central bank is not in a rush to cut interest rates, and U.S. data supported expectations for a pause in the monetary easing cycle.U.S. cons...Reuters
Wed, Feb 12
Fed's Powell heads back to Congress as data shows inflation jump in January
Energy, food, shelter prices increasedPowell appears before House Financial Services CommitteeTraders pare bets on Fed cutsAdds Powell comments in paragraphs 2-3By Howard Schneider WASHINGTON, Feb 12 (Reuters) - Federal Reserve Chair Jerome Powell repeated on Wednesday that the central bank is in...Reuters
Wed, Feb 12
TREASURIES-US yields leap as strong inflation affirms extended rate-cut pause
US 10-year yield hits three-week high US two-year yield rises to highest since mid-JanuaryUS yield curve steepens, investors continue to sell long endAdds new comment, bullets, updates pricesBy Gertrude Chavez-Dreyfuss NEW YORK, Feb 12 (Reuters) - U.S. Treasury yields bounced on Wednesday after i...Reuters
Wed, Feb 12
Time to move on leverage ratio for large banks, Powell says
Feb 12 (Reuters) - It is time for the Federal Reserve to act on easing the enhanced leverage requirement for the largest U.S. banks in order to allow those institutions to be more active participants in the U.S. Treasury market, Fed Chair Jerome Powell said on Wednesday.Reuters
Wed, Feb 12
US crude stockpiles build on ongoing refinery maintenance, EIA says
Adds analyst comment, data from reportBy Liz Hampton and Arathy SomasekharDENVER, Feb 12 (Reuters) - U.S. crude oil inventories rose last week as refinery maintenance continued, while gasoline stockpiles posted a surprise draw, the Energy Information Administration (EIA) said on Wednesday.Crude inve...Reuters
Wed, Feb 12
