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The high growth rate of the US economy, low unemployment and stable inflation are sufficient grounds for continuing a steady increase in the base interest rate in the US, the head of the Federal Reserve Bank of Cleveland, Loretta Mester, told The Wall Street Journal. She said: “If we do not continue raising, we may be left behind, so I'm calm about raising rates, provided that the economy remains on the current trajectory.” Mester pointed to the strong growth of the US economy, while the monetary policy remains stimulating. She noted that the Fed is close to achieving its main goals - full employment and sustainable inflation at about 2%.
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
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