The labor market could tighten significantly later this year and next year as coronavirus infections are contained and more people return to work, Boston Federal Reserve Bank President Eric Rosengren said on Monday.
Turkish inflation concerns rise ahead of rate decision MSCI EM stocks index tumbles Alibaba surges after shrugging off regulatory woes (Adds details, updates prices)
April 12 (Reuters) - Currencies in emerging markets recovered from initial losses, but traded flat on Monday as focus turned to U.S. inflation data due later in the week, while investors pulled out of equities ahead of the corporate earnings season.
The MSCI’s index of emerging market currencies was muted after falling as much as 0.2%, with the U.S. dollar and Treasury yields retreating as investors awaited inflation data due on Tuesday.
Investors feared that a bigger-than-expected spike in inflation could spark another rally in the greenback.
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FILE PHOTO: Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on The Quarterly CARES Act Report to Congress on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh/Pool via REUTERS/File Photo
WASHINGTON (Reuters) - The U.S. Federal Reserve is monitoring the implosion of New York fund Archegos Capital and analyzing why some banks suffered billions of dollars in losses, but the incident does not raise broader systemic risk worries, Fed Chair Jerome Powell said.
Archegos, a family office run by ex-Tiger Asia manager Bill Hwang, along with major banks that financed the fund’s trades, lost billions of dollars last month as its leveraged bets on media stocks quickly soured.
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FILE PHOTO: U.S. currency is seen in this picture illustration taken March 6, 2020. REUTERS/Mike Segar/Illustration/File Photo
WASHINGTON (Reuters) -The U.S. government posted a March budget deficit of $660 billion, a record high for the month, as direct payments to Americans under President Joe Biden’s stimulus package were distributed, the Treasury Department said on Monday.
The deficit for the first six months of the 2021 fiscal year ballooned to a record $1.706 trillion, compared to a $743 billion deficit for the comparable year-earlier period.
The COVID-19 pandemic did not have a big impact on the first six months of fiscal 2020, as increased outlays tied to rising unemployment due to pandemic-related lockdowns and major new aid spending did not start until the very end of March 2020 and ramped up in the following month, a Treasury official told reporters.
By Reuters Staff
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PARIS, April 8 (Reuters) - French Finance Minister Bruno Le Maire welcomed on Thursday the latest U.S. proposals to unblock international negotiations on taxing cross-border commerce, which he said were a good starting point.
Speaking to reporters, Le Maire also said that he was open to global minimum corporate tax rate above the 12.5% under disucssion so far in the negotiations after Washington proposed a rate of 21%. (Reporting by Leigh Thomas; Editing by Andrew Cawthorne)