Iran War Keeps Fed’s Inflation Gauge Above Inflation Target
The Fed’s preferred gauge of monthly price increases grew at a slower pace in April but still remained above its preferred target rate. Source link
Canada 1Q Current Account Deficit Widens
Canada’s current-account shortfall widened in the first quarter as the country’s direct investment income surplus shrank. Source link
Reports of an Iran deal boost markets, new-car buyers are disappearing, and GDP growth slows. Read more in today’s Markets P.M. newsletter.
Plus, disappearing car buyers and slower growth. Source link
The U.S. economy grew more slowly during the first three months of the year, updated government data showed Thursday
The economy grew at a 1.6% annual rate, below earlier estimates, though corporate profits saw their largest year-over-year increase since 2021 Source link
U.S. Jobless Claims Rose Last Week
U.S. jobless claims rose last week, a sign the labor market remains tentative amid economic uncertainty from the war in Ira Source link
Canada Lenders Well Placed to Handle Prolonged Energy-Price Shock, Central Bank Says
Canada’s banks have fortified their financial position over the past year and would be able to lend to customers should the war in Iran escalate and lead to a prolonged…
Eurozone Business Confidence Inches Higher as Price Expectations Cool
Selling-price expectations eased across all business sectors, interrupting the steep upward trend seen in the last two months. Source link
Fed’s Goolsbee Warns U.S. Economy Heading in ‘Stagflationary’ Direction
The Chicago Federal Reserve president warned that the persistent combination of energy shocks and stubborn inflation could push the U.S. economy into a “stagflationary” direction. Source link
Bank of Korea Holds Rates Steady, Raises Inflation and Growth Forecasts
South Korea’s central bank held rates steady at its first meeting under Gov. Shin Hyun-song, but kept the door open to policy tightening. Source link
Fed’s Cook Ready To Raise Rates If Disinflation Fails to Appear in Timely Manner
Federal Reserve governor Lisa Cook said the right course of action is to hold interest rates steady for now, but she is prepared to raise rates if inflation persists. Source…
