Biden promises candor, Xi greets 'old friend' in U.S.-China talks

WASHINGTON (Reuters) -U.S. President Joe Biden and Chinese leader Xi Jinping stressed their responsibility to the world to avoid conflict as the heads of the two top global economies gathered for hours of talks on Monday. “It seems to me our responsibility as leaders of China and the United States is to ensure that our […]

Fed's Kashkari expects higher inflation continuing over next few months

FILE PHOTO: Minneapolis Federal Reserve Bank President Neel Kashkari poses during an interview with Reuters in his office at the bank’s headquarters in Minneapolis, Minnesota, U.S., January 10, 2020. REUTERS/ Ann Saphir(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari said on Sunday he expects higher inflation continuing over the next few months but warned […]

Explainer-What are investors focused on for the next Fed chair?

NEW YORK (Reuters) – A lack of news over U.S. President Joe Biden’s pick for Federal Reserve chair is introducing unpredictability for investors at a crucial time, as the central bank prepares to taper its asset purchases and start hiking rates.FILE PHOTO: Federal Reserve Chairman Jerome Powell poses for photos with Fed Governor Lael Brainard […]

U.S. service sector index hits record high in October; shortages worsening – ISM survey

WASHINGTON (Reuters) – A measure of U.S. services industry activity surged to a record high in October likely as declining COVID-19 cases boosted demand, but businesses remained burdened by snarled supply chains and the resulting exorbitant prices.FILE PHOTO: Customers drink and dine outdoors at the restaurant “Martha” in Philadelphia, Pennsylvania, U.S., August 7, 2021. REUTERS/Hannah […]

Wall St opens mixed on Fed angst; Tesla halts after record run

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 19, 2021. REUTERS/Brendan McDermid(Reuters) – U.S. stock indexes opened mixed on Tuesday as investors were cautious ahead of a Federal Reserve meeting where policymakers are expected to start scaling back bond purchases. The Dow Jones […]

U.S. Treasury increases Q4 borrowing estimate

FILE PHOTO: The U.S. Treasury building is seen in Washington, September 29, 2008. REUTERS/Jim Bourg (Reuters) – The U.S. Treasury said on Monday it plans to borrow $1.015 trillion in the fourth quarter, more than the August estimate of $703 billion, due to having a lower balance at the beginning of the quarter. This is […]

U.S. business spending on equipment strong; goods trade deficit widens

WASHINGTON (Reuters) – New orders for U.S.-made capital goods increased more than expected in September and shipments surged, pointing to strong business spending on equipment, though stretched supply chains likely hampered overall economic growth in the third quarter.FILE PHOTO: Shipping containers sit at the ports of Los Angeles and Long Beach, California in this aerial […]

U.S. business borrowing for equipment rises 6% in September – ELFA

FILE PHOTO: A worker clears a machine jam inside of an Amazon fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2017. REUTERS/Lucas Jackson(Reuters) – U.S. companies increased their borrowings for capital investments in September by 6% compared with a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Monday. The companies signed […]

U.S. 2021 fiscal year deficit below prior year's record, Treasury says

FILE PHOTO: The Wall St. sign is seen outside the door to the New York Stock Exchange in New York’s financial district February 4, 2014. REUTERS/Brendan McDermid/File Photo(Reuters) – The U.S. budget deficit totaled $2.772 trillion during fiscal 2021, below the prior year’s record shortfall but still reflecting a second straight year of massive spending […]