Economics News Results

  • U.S. Jobless Claims Down 111K to 730K in Feb. 20 Week

    Jobless claims fell sharply to 730,000 last week, as the pandemic eased a little and winter storms that swept across the country created disruptions.

  • Mexico's Economic Activity Contracted 8.2% in 2020

    MEXICO CITY-- Mexico's economic output shrank 8.2% in 2020, its sharpest decline in almost nine decades as restrictions to slow the spread of the coronavirus shut down many industries and services early in the year. The recovery begun in the third quar. ter continued in the fourth, with gross domestic product expanding 3.3% in seasonally adjusted terms from the previous quarter, revised data from the National Statistics Institute showed Thursday.

  • German Consumer Confidence Set to Recover in March -GfK

    German consumer sentiment is set to recover in March, following the collapse caused by the tightening of coronavirus restrictions at the beginning of the year, market-research group GfK said Thursday. "The recent dip in infection rates and the launch of the vaccination program are fueling hopes of a speedy easing of measures," Rolf Buerkl, consumer expert at GfK, said. GfK's forward-looking consumer sentiment index is set to rise to minus 12.9 points in March from a revised minus...

  • Bank of Korea Raises 2021 Inflation Forecast; Holds Rate Steady -- Update

    South Korea's central bank on Thursday raised its inflation forecast for this year while keeping its policy rate unchanged at a record-low 0.50%, as widely expected. The Bank of Korea's move signals monetary-policy support will remain in place despite some signs of recovery as the country continues fighting a Covid-19 resurgence. The bank now expects consumer prices will rise 1.3% in 2021, at a stronger pace than its November projection of 1.0%.

  • Federal Reserve Financial-Services Systems Disrupted for Hours -- 5th Update

    The Federal Reserve said Wednesday that an unspecified error disrupted all of its financial-services systems in an extraordinary event that took down key payment systems used by banks, businesses and government agencies for several hours. Central-bank officials couldn't immediately recall a similar episode affecting its systems, which had been seen as extremely reliable. They allow the Fed, which is known primarily for setting interest rates, to perform its less-public...

  • Federal Reserve Financial-Services Systems Disrupted for Hours -- 3rd Update

    The Federal Reserve said Wednesday an "operational error" disrupted all of its financial-services systems for several hours, including the electronic payments settlement service used by banks, businesses and government agencies. "A Federal Reserve operational error resulted in disruption of service in several business lines. We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations, "Jim Strader,...

  • Federal Reserve Reports Several Business Lines Disrupted by 'Operational Error' -- 2nd Update

    The Federal Reserve said Wednesday that an "operational error" disrupted services in several of its business lines, including the electronic settlement system used by banks, businesses and government agencies. "A Federal Reserve operational error resulted in disruption of service in several business lines. We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations, "said Jim Strader, a spokesman for...

  • Federal Reserve Reports Several Business Lines Disrupted by 'Operational Error' -- Update

    The Federal Reserve said Wednesday that an "operational error" disrupted services in several of its business lines, including the electronic settlement system used by banks, businesses and government agencies. "A Federal Reserve operational error resulted in disruption of service in several business lines. We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations, "said Jim Strader, a spokesman for...

  • Federal Reserve Reports Several Business Lines Disrupted by 'Operational Error'

    The Federal Reserve said Wednesday that an "operational error" disrupted services in several of its business lines, including the electronic settlement system used by banks, businesses and government agencies. "A Federal Reserve operational error resulted in disruption of service in several business lines. We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations, "said Jim Strader, a spokesman for...

  • Powell Pledges to Maintain Fed's Easy-Money Policies Until Economy Recovers

    WASHINGTON-- Federal Reserve Chairman Jerome Powell repeated Wednesday the central bank's intention to maintain ultralow interest rates and continue hefty asset purchases until the economy recovers further, in a second consecutive day of testimony on Capitol Hill. The Fed's easy-money policies will remain in place until "substantial further progress has been made" toward its employment and inflation goals, Mr. Powell told the House Financial Services Committee in...

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