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US Labor Department reducing CPI collection sample
WASHINGTON, June 4 (Reuters) - The Labor Department's Bureau of Labor Statistics (BLS) said on Wednesday it was reducing the Consumer Price Index collection sample in areas across the country due to resource constraints, but this should have "minimal impact" on the overall CPI data.In st...Reuters
Wed, Jun 4
Trump says debt limit should be eliminated
June 4 (Reuters) - U.S. President Donald Trump on Wednesday said the nation's debt ceiling should be eliminated, saying he agreed with Democratic Senator Elizabeth Warren's view on the subject."The Debt Limit should be entirely scrapped to prevent an Economic catastrophe. It is too devas...Reuters
Wed, Jun 4
US inflation data collection hurt by Trump-era hiring freeze, WSJ says
June 4 (Reuters) - Federal government staffing shortages from Trump administration hiring freezes have forced the Labor Department's economic statistics arm to curtail the breadth of its data collection for one of the main measures of U.S. inflation, the Wall Street Journal reported on Wednesday...Reuters
Wed, Jun 4
US Congress budget office sees economic output falling from Trump tariffs
WASHINGTON, June 4 (Reuters) - U.S. economic output will fall as a result of President Donald Trump's new tariffs on foreign goods that were in place as of May 13, while also reducing federal budget deficits by $2.8 trillion over a decade, the non-partisan Congressional Budget Office said on Wed...Reuters
Wed, Jun 4
US Congress budget office sees economic output falling from Trump tariffs
WASHINGTON, June 4 (Reuters) - U.S. economic output will fall as a result of President Donald Trump's new tariffs on foreign goods that were in place as of May 13, while also reducing federal budget deficits by $2.8 trillion over a decade, the non-partisan Congressional Budget Office said on Wed...Reuters
Wed, Jun 4
Bank of Canada holds key rate steady but says a future cut is possible
BoC holds rate due to U.S. trade policy uncertaintyMacklem cites U.S. tariffs as major economic headwindCanadian dollar rises, inflation concerns persistHigher goods prices linked to trade disruption, Macklem notesBy Promit Mukherjee and David Ljunggren OTTAWA, June 4 (Reuters) - The Bank of Cana...Reuters
Wed, Jun 4
TREASURIES-US yields fall after soft ADP, ISM services data
ADP report shows private payrolls increased by only 37,000 jobsISM services PMI drops to 49.9, indicating contractionMarkets price in 74% chance of Fed rate cut in SeptemberBy Chuck Mikolajczak NEW YORK, June 4 (Reuters) - U.S. 10-year Treasury yields fell on Wednesday after labor market data cam...Reuters
Wed, Jun 4
US crude stockpiles fall, fuel builds as refiners hike output, EIA says
By Stephanie KellyNEW YORK, June 4 (Reuters) - U.S. crude oil stockpiles fell last week as oil refiners ramped up production with the start of the summer driving season, while fuel inventories rose amid weaker demand, data from the Energy Information Administration showed on Wednesday.Crude inventor...Reuters
Wed, Jun 4
NY Fed survey: Last month most firms passed on some of tariff surge
NY Fed data from early May finds most tariffs getting passed throughNY Fed finds limited pass through of all Trump tariffsNY Fed finds businesses confused and uncertaint about tariffsBy Michael S. Derby NEW YORK, June 4 - The majority of businesses in the New York Federal Reserve’s district said ...Reuters
Wed, Jun 4
Euro zone bond yields edge up from multi-week lows ahead of ECB decision
By Samuel Indyk LONDON, June 4 (Reuters) - Euro zone bond yields rose modestly on Wednesday having fallen the day before as benign inflation data helped solidify expectations for a rate cut from the European Central Bank, but fiscal concerns still lingered.Data on Tuesday showed consumer price in...Reuters
Wed, Jun 4
Fed hawks and doves: what US central bankers are saying
June 4 (Reuters) - U.S. central bankers are expected to leave short-term borrowing costs unchanged at their June 17-18 meeting to keep downward pressure on inflation as they wait to see how President Donald Trump 's trade and other policies affect prices and employment. Here is a...Reuters
Wed, Jun 4
US crude stocks fall, gasoline and distillate inventories rise - EIA
NEW YORK, June 4 (Reuters) - U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday.Crude inventories fell by 4.3 million barrels to 436.1 million barrels in the week ended May 30, the EIA said, compared with analysts&...Reuters
Wed, Jun 4
US ISM Services PMI drops to 49.9 in May vs. 52 expected
The business activity in the US service sector contracted slightly in May, with the Institute for Supply Management's (ISM) Services Purchasing Managers Index (PMI) dropping to 49.9 from 51.6 in April. This reading came in below the market expectation of 52.Fxstreet
Wed, Jun 4
US service sector unexpectedly contracts in May; inflation heats up
ISM nonmanufacturing PMI drops to 49.9, indicating contraction and lowest since June 2024Tariff uncertainty complicates business planning, affects financial guidanceSupply chain bottlenecks and tariffs drive inflation concerns WASHINGTON, June 4 (Reuters) - The U.S. services sector contracted for...Reuters
Wed, Jun 4
NY Fed survey: Last month most firms passed on some of tariff surge
By Michael S. Derby NEW YORK, June 4 - The majority of businesses in the New York Federal Reserve’s district said they passed on at least some of President Donald Trump’s tariffs in the form of higher prices last month, as firms flagged considerable confusion and uncertainty in navigating the sur...Reuters
Wed, Jun 4
