Category: Include on Menu
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U.S. Federal Budget Deficit Narrows in March with Reduced Outlays and Increased Receipts
The U.S. Treasury Department announced on Wednesday that the federal budget deficit experienced a significant contraction in March, attributed to a decrease in government spending and an uptick in revenue, coinciding with the peak of the tax-filing season. The deficit for the month stood at $236 billion, marking a substantial 38% decrease from the $378…
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Fed officials see progress on inflation amid new challenges
Richmond Fed President Tom Barkin and Chicago Fed President Austan Goolsbee shared optimistic yet cautious views on the state of inflation and the economic outlook during a panel discussion on Wednesday. Barkin highlighted significant progress being made in the battle against inflation. However, Goolsbee pointed out that the Fed is encountering more complex trade-offs this…
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EIA: US crude inventories up by 5.8M barrels
Crude oil stockpiles in the United States jumped by 5.8 million barrels to stand at 457.3 million barrels in the week ending April 5, the US Energy Information Administration shared in its report on Wednesday. The crude oil refinery inputs in the country averaged 15.8 million barrels per day, decreasing 115,000 barrels per day from…
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US wholesale inventories up by 0.5% in February
Wholesale inventories in the United States rose by 0.5% in February compared to the previous month and amounted to $901.1 billion, according to a report by the US Census Bureau on Wednesday. The figure came unchanged from the increase published at the end of February. Meanwhile, the sales of merchant wholesalers in February stood at…
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Federal Reserve FOMC Meeting Highlights: Navigating Uncertainties in Economic Activity and Inflation
Discussions about uncertainties surrounding the outlook for U.S. economic activity, the labor market, and inflation trends dominated the conversations at the latest Federal Open Market Committee (FOMC) meeting, the monetary policy committee of the Federal Reserve (the American central bank). This information was revealed in the minutes from the meeting held on March 19 and…
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Bitcoin Hits $68,000 on Wednesday, MetaMask’s New Daylight Integration, and More Crypto News
Bitcoin slides below $69,000 anticipating US inflation data Before the American inflation data release by the Bureau of Labor Statistics, Bitcoin (COIN:BTCUSD) dropped below $69,000 this Wednesday. The US CPI for March indicated inflation higher than expected, reaching 3.5% annually, surpassing the forecast of 3.4%. Despite intensified efforts by the Federal Reserve to control inflation,…
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Hotter-Than-Expected Inflation Data May Trigger Sell-Off On Wall Street
The major U.S. index futures are currently pointing to a sharply lower open on Wednesday, with stocks likely to come under pressure amid a negative reaction to a highly anticipated report on consumer price inflation. The futures plunged following the release of a Labor Department report showing U.S. consumer prices advanced by slightly more than…
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US inflation rises from 3.2% to 3.5% in March
The yearly inflation rate in the United States stood at 3.5% in March, according to the latest report by the Bureau of Labor Statistics on Wednesday. Inflation increased compared to February’s annual rate of 3.2% and exceeded analysts’ predictions. Month-on-month, the consumer price index (CPI) rose by 0.4%. Over half of the increase was attributed…
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IMF: Global growth rate to slow to 2.8% by 2030
The International Monetary Fund (IMF) said in its latest world economic outlook report on Wednesday that the global growth rate is likely to fall to 2.8% by the end of the decade, a full percentage point below the historical average. The IMF said the decline in productivity growth is responsible for more than half of…
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Investors Retreat from Renewable Energy Sector Amid Policy Uncertainties and Growth Concerns
In a marked shift from previous years, global investors are pulling back from renewable energy sector funds, influenced by concerns over the sector’s growth prospects and the uncertain policy landscape in a U.S. election year. This retreat is highlighted by significant fund outflows and the underperformance of renewable energy indices compared to their fossil fuel…