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Economic News and Analysis

The latest news and analysis about the health of the US economy.

Oil Holds Hefty Advance on OPEC+ Deal Progress, Iran Sanctions

(Bloomberg) -- Oil steadied after the biggest advance in more than two weeks as OPEC+ made progress toward a deal to delay further the restoration of shuttered supply, and the US imposed more sanctions on Iranian crude.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsBrent crude traded near $74 a barrel after a 2.5% jump on Tuesday, while West Texas Intermediate was above $70. The producer group is

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Poland to Hold Rates Unchanged as Inflation Dip Seen Temporary

(Bloomberg) -- Poland is set to extend its pause on interest rates to more than a year as policymakers look past a recent decline in inflation and weakening economic growth for a clear outlook to emerge.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe Monetary Policy Council will leave its benchmark at 5.75% on Wednesday, according to all 31 economists surveyed by Bloomberg. While headline infl

Australia’s Economic Growth Stays Tepid in Challenge for RBA

(Bloomberg) -- Australia’s economic growth remained sluggish last quarter as a surge in government spending underpinned the expansion, highlighting the Reserve Bank’s policy challenge as inflation is still stubbornly sticky.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsGross domestic product rose 0.8% from a year earlier, the weakest reading — excluding the pandemic — since December 1991, when t

Oil prices inch up on geopolitical tensions, OPEC+ supply plans

SINGAPORE (Reuters) -Oil prices firmed on Wednesday as market participants weighed up geopolitical tensions and the prospect of OPEC+ extending supply cuts against weaker demand. Brent crude futures rose 23 cents, or 0.3%, to $73.85 a barrel by 0700 GMT, while U.S. West Texas Intermediate crude futures gained 19 cents, or 0.3%, to $70.13. A shaky ceasefire between Israel and Hezbollah, South Korea's curtailed declaration of martial law and a rebel offensive in Syria that threatens to draw in forces from several oil-producing countries, all lent support to oil prices, said Priyanka Sachdeva, senior market analyst at Phillip Nova.

Aussie slumps on tepid economy, won stable after martial law lifted

TOKYO (Reuters) -The Australian dollar tumbled to a four-month low on Wednesday after weaker-than-expected economic growth raised expectations for earlier interest rate cuts, while South Korea's won stabilised after a decision to impose martial law was reversed. The U.S. dollar recovered from a three-week low versus the yen and ticked up against other major rivals as traders waited on more labour market data for clues on the path for Federal Reserve policy.

Oil Rises on Iran Crude Sanctions, OPEC+ Output Deal Progress

(Bloomberg) -- Oil rose the most in more than two weeks as the US imposed more sanctions targeting Iranian crude and OPEC+ made progress on a deal to keep output off the market.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsWest Texas Intermediate advanced 2.7% to settle near $70 a barrel, the biggest one-day jump since Nov. 18, as OPEC+ delegates said the group is firming up an agreement to dela

Alaska Governor Sees ‘Certainty’ for Oil, Gas Under Trump

(Bloomberg) -- President-elect Donald Trump’s vision for American energy dominance promises “certainty” that will encourage more investments in oil and gas, Alaska Governor Mike Dunleavy said. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThat could entice more spending by companies on acreage in remote stretches of the state, including offshore waters now largely foreclosed to development and p

Fed’s Daly Says December Aside, Rates Should Continue Falling

(Bloomberg) -- Federal Reserve Bank of San Francisco President Mary Daly said an interest-rate cut this month isn’t certain but remains on the table for policymakers.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic Jams“In order to keep the economy in a good place we have to continue to recalibrate policy,” Daly said Tuesday in an interview on Fox Business. “Whether it’ll be in December or some time la

Treasury Yields Whipsawed as Fed Heads Back More Rate Cuts

(Bloomberg) -- Short-maturity Treasury yields were poised to end a volatile session lower after several Federal Reserve officials said they backed additional interest-rate cuts as soon as this month.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe two-year Treasury note’s yield declined as much as four basis points to 4.14%, last seen Nov. 4, reaching session lows in US afternoon trading after

Budget-friendly Frontier Airlines is ripping out economy rows on its planes and adding first-class seats to tempt wealthy travelers

Despite record travel, low-cost carriers are hemorrhaging money and are trying new strategies to stop the bleed.

US Debt Ceiling to Over Complicate Fed’s Balance-Sheet Runoff

(Bloomberg) -- The US debt ceiling is once again emerging as the Federal Reserve continues to unwind its balance sheet, putting the central bank in a tough spot — only this time it’s trickier. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe debt limit will be reinstated on Jan. 2, prompting the Treasury Department to deploy a series of extraordinary measures that include spending down its cash