On Wednesday, the US central bank again raised its benchmark overnight lending rate by another 25 basis points— the fifth rate hike since it ended its ultra-low interest rate policy in December 2016, and setting current rates to a range of 1.50 percent to 1.75 percent.
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The US economy slowed sharply at the end of 2016 as a plunge in shipments of soybeans weighed on exports. But steady consumer spending and rising business investment suggest the economy will continue to expand.
US Fed chair Janet Yellen has reaffirmed future rate hikes in her last remarks before a policy meeting next week, saying upbeat economic factors made up for more negative trends – but she’s vague on the timing.
The US Commerce Department has revised up first-quarter GDP growth for the world’s largest economy.
The United States has revised an official estimate of how the economy fared in the fourth quarter of 2015, reflecting stronger-than-expected consumer spending amid a tightening labor market and rising housing prices.
The global economy faces fewer headwinds in 2013 compared to last year but is likely to experience a period of weak growth, according to experts.
By Martin Feldstein CAMBRIDGE: During the past four years, the United States Federal Reserve has added enormous liquidity to the US commercial banking system, and thus to the American economy. Many observers worry that this liquidity will lead in the future to a rapid increase in the volume of bank credit, causing a brisk rise …
By Mohamed A. El-Erian NEWPORT BEACH: The United States has gone through an arduous period of intervention and rehabilitation since the global financial crisis in 2008 sent it to the economic equivalent of the emergency room. It moved from the intensive-care unit to the recovery room and, just recently, was discharged from the hospital. The question …