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Most US households say finances all right even as inflation still bites, Fed survey shows
73% of US households said they were at least doing OK in 2024 vs 72% in 2023Just 29% considered the economy to be "good" or "excellent," up from 22% in 202360% of households felt inflation was making their life worse, down from 65% in 202363% of adults said they had the cash for a $4...Reuters
Wed, May 28
BREAKINGVIEWS-Powell’s task: reshaping weapons for the last war
By Gabriel RubinWASHINGTON, May 28 (Reuters Breakingviews) - Federal Reserve Chair Jerome Powell wants the central bank's tools to reflect its current wars, not its past ones. After years of seeking escape from miserly growth, the central bank’s sluggish response to post-pandemic inflation came ...Reuters
Wed, May 28
Musk criticizes Trump tax bill: can't be both big and beautiful
WASHINGTON, May 28 (Reuters) - Billionaire Elon Musk has criticized President Donald Trump's "big, beautiful" tax and spending bill, saying it detracts from his efforts to shrink the U.S. budget deficit."So, I was like disappointed to see the massive spending bill frankly, which incr...Reuters
Wed, May 28
More than 200 jobs cut at International Labour Organization as US slashes funding
By Olivia Le Poidevin GENEVA, May 28 (Reuters) - The Geneva-based International Labour Organization (ILO) has axed about 225 jobs due to cutbacks in U.S. funding at the United Nations agency, its head said on Wednesday. The job losses, which affect posts at the ILO's Geneva headquarters and i...Reuters
Wed, May 28
US home buyers are most uncertain since 2023 as rates surge, BofA survey shows
By Saeed Azhar NEW YORK, May 28 (Reuters) - U.S. homeowners and prospective buyers are feeling the most uncertain about the real estate market since 2023, a Bank of America survey showed on Wednesday, as rising mortgage rates deter buyers.Of the 2,000 respondents to BofA's poll, 60% said they...Reuters
Wed, May 28
US home buyers are most uncertain since 2023 as rates surge, BofA survey shows
By Saeed Azhar NEW YORK, May 28 (Reuters) - U.S. homeowners and prospective buyers are feeling the most uncertain about the real estate market since 2023, a Bank of America survey showed on Wednesday, as rising mortgage rates deter buyers.Of the 2,000 respondents to BofA's poll, 60% said they...Reuters
Wed, May 28
PREVIEW-Kohl's annual forecasts in spotlight after leadership turmoil, tariff uncertainty
By Savyata Mishra May 28 (Reuters) - Kohl's KSS.N could scrap its annual forecasts on Thursday when the U.S. department store chain reports quarterly earnings, analysts said, as the abrupt ouster of its top boss adds to its challenges against the backdrop of pressure from tariffs.CEO Ashley ...Reuters
Wed, May 28
Swiss government agrees negotiating mandate on tariffs with U.S.
ZURICH, May 28 (Reuters) - The Swiss government wants to resolve customs issues with the United States and has agreed a draft negotiating mandate on trade and economic matters to be sent to parliament's foreign policy committees and the cantons, it said on Wednesday.Bern does not expect an econo...Reuters
Wed, May 28
USD/CNH: Likely to trade between 7.1750 and 7.1950 – UOB Group
US Dollar (USD) is likely to trade between 7.1750 and 7.1950 against Chinese Yuan (CNH). In the longer run, downward momentum is slowing; a breach of 7.2070 would mean that the downward bias has faded, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Wed, May 28
Swiss government agreed negotiating mandate on tariffs with U.S.
BERLIN, May 28 (Reuters) - The Swiss government wants to resolve customs issues with the United States and has agreed a draft negotiating mandate on trade and economic topics to be sent to foreign policy committees and the cantons, it said on Wednesday.It also said it does not expect an economic slu...Reuters
Wed, May 28
Taiwan trims 2025 GDP growth forecast, cites US tariff uncertainty
2025 GDP forecast trimmed to 3.1% vs previous 3.14% Potential US tariffs could slow growth 2025 exports expected to rise by 8.99% vs previous 7.08%Inflation forecast cut to 1.88% vs 1.94% previously TAIPEI, May 28 (Reuters) - Taiwan's trade-reliant economy is expected to grow at a slower pace...Reuters
Wed, May 28
