US inflation roller coaster prompts fresh look at long-ignored money supply

NEW YORK, Jan 26 (Reuters) – The amount of money sloshing around the US economy shrank last year for the first time on record, a development that some economists believe bolsters the case for US inflation pressures continuing to abate. The Federal Reserve’s main measure of the nation’s money stock – known as M2 money … Read more

Strong US economic growth expected in fourth quarter, outlook darkening

Fourth-quarter GDP forecast to increase at a 2.6% rate Strong consumer spending seen; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The US economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed … Read more

US home sales slump to 12-year low; glimmers of hope emerging

Existing home sales drop 1.5% in December Sales fall 17.8% in 2022, sharpest annual decline since 2008 Median house price rises 2.3% from last year WASHINGTON, Jan 20 (Reuters) – US existing home sales plunged to a 12-year low in December, but declining mortgage rates raised cautious optimism that the embattled housing market could be … Read more

Fed to deliver two 25-basis-point hikes in Q1, followed by long pause

BENGALURU, Jan 20 (Reuters) – The US Federal Reserve will end its tightening cycle after a 25-basis-point hike at each of its next two policy meetings and then likely hold interest rates steady for at least the rest of the year, according to most economists in a Reuters poll. Fed officials broadly agree the US … Read more

Shares rise, yen climbs as BOJ battles bond bears

BOJ under intense pressure as it defends yield policy Yen hits 7-month high, yuan climbs as dollar eases More earnings ahead, many central bank speakers Britain’s FTSE flirts with record highs SYDNEY/LONDON, Jan 16 (Reuters) – Shares firmed on Monday as optimism over corporate earnings and China’s reopening offset concerns the Bank of Japan (BOJ) … Read more

Exclusive: Exxon prepares to start up $2 bln Texas oil refinery expansion

Jan 13 (Reuters) – Exxon Mobil Corp (XOM.N) in coming days will sharply boost gasoline and diesel production at its Beaumont, Texas, refinery, people familiar with the matter said, completing a $2 billion expansion first considered nine years ago. Initial startup of a 250,000 barrels per day (bpd) crude distillation unit (CDU) at the 369,000 … Read more