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Fed's Kashkari: Labour market is showing some signs of slowing down
Federal Reserve Bank of Minneapolis President Neel Kashkari said late Wednesday that the labour market is showing some signs of slowing down. However, the central bank must stay in wait-and-see mode to assess how the economy responds to the uncertainty.Fxstreet
Wed, Jun 4
Musk, hardline US Republicans ramp up attacks on Trump tax and spending bill
CBO sees $2.4 trillion debt impact in House-passed billCosts could rise to $5 trillion including interest if made permanent, CFRB saysElon Musk criticizes bill, supports Republican deficit hawksSenate Republicans divided on House-passed billBy Richard Cowan and David Morgan WASHINGTON, June 4 (Re...Reuters
Wed, Jun 4
US Labor Department reducing CPI collection sample amid hiring freeze
Bureau of Labor Statistics reducing CPI sample collectionEconomists worry staffing shortages affecting CPI data qualityInflation data crucial amid Trump's tariffs, economists say WASHINGTON, June 4 (Reuters) - The U.S. Labor Department's economic statistics arm said on Wednesday it wa...Reuters
Wed, Jun 4
Canada's propane exports soar 9.2% in 2024 as gas output grew
By Amanda StephensonCALGARY, June 4 (Reuters) - Canadian exports of propane and butane grew significantly in 2024 as natural gas production increased in the country, according to new data from the Canada Energy Regulator on Wednesday.The data for 2024 showed Canadian propane exports averaged 218,300...Reuters
Wed, Jun 4
RPT-UK services sector returns to growth in May, PMI survey shows
By David Milliken LONDON, June 4 (Reuters) - Britain's services sector returned to tepid growth last month after fears about U.S. President Donald Trump's tariffs caused the sector to shrink in April for the first time in a year and a half, a survey showed on Wednesday.The S&P Global ...Reuters
Wed, Jun 4
TREASURIES-US yields drop after weak jobs, 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. Treasury yields fell sharply on Wednesday, after labor market data ca...Reuters
Wed, Jun 4
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
