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US deficits may widen with Trump's proposed $1.5 trillion defense budget, says Moody's
NEW YORK, Jan 8 (Reuters) - U.S. President Donald Trump's proposed increase in defense spending for 2027 is unlikely to be offset by savings or revenues and would have a negative impact on already sizeable U.S. fiscal deficits, said an analyst at Moody's Ratings."A large, sustained debt-...Reuters
Thu, Jan 8
Treasury's Bessent says Iran facing precarious moment, economy in trouble
GOLDEN VALLEY, Minnesota, Jan 8 (Reuters) - Iran's economy is facing high inflation and other challenges, partly due to U.S. sanctions, U.S. Treasury Secretary Scott Bessent said on Thursday, underscoring Washington's concerns about Tehran cracking down violently on anti-regime protests."...Reuters
Thu, Jan 8
Bessent worried more about loss of leverage than revenue if Trump loses Supreme Court case
Bessent confident in reconstituting lost tariff revenue if court rules against TrumpEarly 2026 tax season to boost U.S. economy with Republican tax breaksVenezuela sanctions to be adjusted post-Maduro, oil investments expected to varyBy David Lawder and Andrea ShalalGOLDEN VALLEY, Minnesota, Jan 8 (...Reuters
Thu, Jan 8
Fed to cut rates slightly this year, CBO forecasts
Jan 8 (Reuters) - The Federal Reserve will likely cut rates a little more to "address downside risks to the labor market" and then stop there, the Congressional Budget Office forecast on Thursday, with higher tariffs and increased demand from the Trump administration's tax cuts expected ...Reuters
Thu, Jan 8
US Treasury's Bessent says Rieder not yet interviewed for top Fed job, decision likely this month
MINNEAPOLIS, Jan 8 (Reuters) - BlackRock's chief bond investment manager, Rick Rieder, has not been interviewed yet by U.S. President Donald Trump for the Federal Reserve top job, Treasury Secretary Scott Bessent said on Thursday, adding that he expects the nominee to be announced later this...Reuters
Thu, Jan 8
Fed to cut rates slightly this year, CBO forecasts
Jan 8 (Reuters) - The Federal Reserve will likely cut rates a little more this year to "address downside risks to the labor market," the Congressional Budget Office forecast on Thursday, with higher tariffs and increased demand from the Trump administration's tax cuts expected to keep in...Reuters
Thu, Jan 8
Bank of Mexico, flagging new taxes and tariffs, signals support for rate cut pause
Banxico signals caution due to trade uncertainty and new tariffsAnalysts expect rate cut pause amid inflation concernsNew taxes and tariffs may temporarily impact inflationBy Brendan O'Boyle MEXICO CITY, Jan 8 (Reuters) - Mexico’s central bank policymakers signaled greater caution on the pace...Reuters
Thu, Jan 8
WRAPUP 2-US weekly jobless claims edge up; third-quarter worker productivity surges
Weekly jobless claims increase 8,000 to 208,000 Continuing claims jump by 56,000 to 1.914 millionThird-quarter worker productivity rises at fastest pace in two yearsBy Lucia Mutikani WASHINGTON, Jan 8 (Reuters) - The number of Americans filing new applications for unemployment benefits rose moder...Reuters
Thu, Jan 8
Tax break to provide tailwind to US economy in 2026, Bessent says
GOLDEN VALLEY, Minnesota, Jan 8 (Reuters) - U.S. Treasury Secretary Scott Bessent on Thursday said an early start to the 2026 tax filing season would provide a tailwind to the U.S. economy by allowing benefits from Republican-passed tax breaks to flow quickly to Americans.Bessent, in a speech to the...Reuters
Thu, Jan 8
UN predicts world economic growth to slip to 2.7% in 2026
UN report says US economic growth forecast to edge up to 2.0% in 2026 and 2.2% in 2027In China, economy projected to grow by 4.6% in 2026 and 4.5% in 2027Growth in India forecast at 6.6% for 2026 and 6.7% for 2027By Michelle NicholsUNITED NATIONS, Jan 8 (Reuters) - Global economic growth is forecast...Reuters
Thu, Jan 8
RPT-Trump to decide on Freddie, Fannie IPO in next month or two, FHFA's Pulte tells CNBC
WASHINGTON, Jan 8 (Reuters) - U.S. Federal Housing Finance Agency Director William Pulte said on Thursday he expects President Donald Trump will make a decision in the next month or two on whether to sell a piece of the U.S. mortgage agencies Fannie Mae and Freddie Mac in an initial public offering....Reuters
Thu, Jan 8
Constellation Brands warns beer sales under pressure as Hispanic consumers cut back
By Neil J Kanatt Jan 8 (Reuters) - Constellation Brands STZ.N executives said on Thursday beer sales could remain volatile and under pressure as economic uncertainty and high unemployment among Hispanic consumers, its core customer base, continue to weigh on spending.Alcohol sales have weakened a...Reuters
Thu, Jan 8
