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February 25, 2020
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Take Five: ‘Our currency, your problem’ – all over again

Reuters
(Reuters) – FILE PHOTO: U.S. dollar banknotes are pictured at a currency exchange office in Diyarbakir, Turkey, November 17, 2017. REUTERS/Sertac Kayar 1/ KING DOLLAR The dollar juggernaut rolls on. The U.S. currency =USD has rocketed to a near three-year high versus the euro, a 10-month high against the yen......
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In next downturn, Fed may opt for quick, strong action

Reuters
NEW YORK/SAN FRANCISCO (Reuters) – In the next economic downturn, the Federal Reserve and other central banks may need to roll out their big guns sooner and use them more aggressively, or risk getting mired in growth-sapping deflation or worse. FILE PHOTO: Federal Reserve Board Governor Lael Brainard speaks at......
Reuters - Business

Take Five: ‘Our currency, your problem’ – all over again

Reuters
(Reuters) – 1/KING DOLLAR Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., February 6, 2020. REUTERS/Lucas Jackson The dollar juggernaut rolls on. The U.S. currency has rocketed to a near three-year high versus the euro EUR=, a 10-month......
Reuters - Business

Oil falls 2% on renewed uncertainties over coronavirus outbreak

Reuters
LONDON (Reuters) – Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian economic data fuelled uncertainty about the economic outlook and as major crude producers showed no rush to cut output. FILE PHOTO: Drilling rigs operate at sunset in Midland, Texas, U.S., February......
Reuters - Business

Oil falls as coronavirus spread beyond China heightens demand fears

Reuters
TOKYO (Reuters) – Oil prices fell on Friday amid concerns over fuel demand as the coronavirus epidemic spread further beyond China, while major crude producers stood pat on any early action to cut output to support the market. FILE PHOTO: Drilling rigs operate at sunset in Midland, Texas, U.S., February......
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Trump economist says ‘uncertainty’ from trade disputes hit business investment

Reuters
WASHINGTON (Reuters) – A slowdown in U.S. growth last year was at least partly the fault of President Donald Trump’s global trade battles and the resulting hit to business investment, the administration’s top economist said on Thursday in an outlook for the coming years. FILE PHOTO: U.S. President Donald Trump......
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Euro zone ministers discuss fiscal boost options as virus worries weigh

Reuters
BRUSSELS (Reuters) – Euro zone finance ministers discussed ways to pursue a more growth-friendly fiscal policy mix on Monday, in a potential nudge to Germany and the Netherlands to spend more as fears of a downturn grow in the wake of the coronavirus epidemic. European Central Bank President Christine Lagarde......
Reuters - Business

Japan on brink of recession as economy contracts, virus heightens risk

Reuters
TOKYO (Reuters) – Japan’s economy shrank at the fastest pace in almost six years in the December quarter as a sales tax hike hit consumer and business spending, raising the risk of a recession as China’s coronavirus outbreak chills global activity. Analysts say the widening fallout from the epidemic, which......
Reuters - Business

Japan’s recession risks grow as economy skids in fourth-quarter, virus clouds outlook

Reuters
TOKYO (Reuters) – Japan’s economy shrank at the fastest pace in almost six years in the December quarter as last year’s sales tax hike hit consumer and business spending, highlighting a fragile outlook made worse by growing coronavirus risks. FILE PHOTO: Newly manufactured cars of the automobile maker Subaru await......
Reuters - Business

Wall Street Week Ahead: Investors bet emerging markets will weather coronavirus impact

Reuters
NEW YORK (Reuters) – Investors are edging back into emerging markets, even though worries about the coronavirus’ impact on global economic growth have clouded prospects for the boom-and-bust asset class. Nearly $730 million flowed back into emerging markets exchange-traded funds (ETFs) in the past week, according to Lipper, after two......
Reuters - Business

Investors bet emerging markets will weather coronavirus impact

Reuters
NEW YORK (Reuters) – Investors are edging back into emerging markets, even though worries about the coronavirus’s impact on global economic growth have clouded prospects for the boom-and-bust asset class. FILE PHOTO – Traders work at the New York Stock Exchange (NYSE) in New York, U.S., February 4, 2020. REUTERS/Bryan......
Reuters - Business

Chinese economy clobbered by coronavirus but set to recover soon: Reuters poll

Reuters
(Reuters) – The coronavirus-hit Chinese economy will grow at its slowest rate since the financial crisis in the current quarter, according to a Reuters poll of economists who said the downturn will be short-lived if the outbreak is contained. Workers wearing face masks rope a container ship at a port......
Reuters - Business

Fed Chair Powell: ‘no reason’ rising wages, job gains can’t continue

Reuters
Federal Reserve Board Chairman Jerome Powell testifies before the Senate Banking Committee in a hearing on the semi-annual monetary policy report to Congress on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday reiterated his confidence in the sustainability of......
Reuters - Business

China’s GDP goal on track despite virus impact: government economist

Reuters
BEIJING (Reuters) – China will be able to achieve its long-term goal of doubling gross domestic product and incomes this year despite the impact from a conoravirus outbreak, an influential economist at a top government think tank said on Wednesday. FILE PHOTO: Workers are seen at a construction site in......
Reuters - Business

Treasury’s Mnuchin sees U.S. GDP growth less than 3% in 2020

Reuters
FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin takes part in a Q&A session at Chatham House in London, Britain, January 25, 2020. REUTERS/Henry Nicholls WASHINGTON (Reuters) – Treasury Secretary Steven Mnuchin said on Friday he expects 2020 U.S. GDP growth to be less than 3%, partly due to problems at......
Reuters - Business

Fed says risks to economy easing, but calls out coronavirus in report to Congress

Reuters
WASHINGTON (Reuters) – A “moderately” expanding U.S. economy was slowed last year by a manufacturing slump and weak global growth, but key risks have receded and the likelihood of recession has declined, the U.S. Federal Reserve said in its latest monetary policy report to the U.S. Congress. “Downside risks to......
Reuters - Business

Take Five: China’s virus paralysis

Reuters
LONDON (Reuters) – Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 21, 2020. REUTERS/Brendan McDermid 1/COUNTING THE ECONOMIC TOLL The coronavirus continues to claim lives, yet the impact on global demand and companies is just starting to be felt. Recent days......
Reuters - Business

Fedcoin? The U.S. central bank is looking into it

Reuters
PALO ALTO, Calif. (Reuters) – The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency, Governor Lael Brainard said on Wednesday. FILE PHOTO: Federal Reserve Chairman Jerome Powell poses for photos......
Reuters - Business

Defense aircraft demand lifts U.S. factory orders; underlying softness remains

Reuters
WASHINGTON (Reuters) – New orders for U.S.-made goods increased by the most in nearly 1-1/2 years in December, flattered by robust demand for defense aircraft, but persistently weak business spending on equipment pointed to limited scope for a sharp rebound in manufacturing. FILE PHOTO: Engines assembled as they make their......
Reuters - Business

Take Five: What’s the virus damage?

Reuters
(Reuters) – 1/SCHLOCK AND AWE IN CHINA FILE PHOTO: People walk past an electronic display showing world markets indices outside a brokerage in Tokyo, Japan, January 8, 2020. REUTERS/Issei Kato Financial markets have gone swiftly from nonchalance to awe in reacting to the fast-spreading 2019-nCoV or new coronavirus here Global......

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