News with the tag "Economy"

Traders are pouring cash into Amazon, convinced it’s better built to survive President Trump’s trade war than its rivals. As new tariffs hit shelves across the US, retail giants are scrambling, but Wall Street is showing clear favoritism. According to The Wall Street Journal, investors believe Amazo...

Vietnam’s trade officials rushed into emergency negotiations with the United States on Friday, trying to delay or cancel a planned 46% tariff that could gut its export economy. The face-to-face meeting between Vietnamese Trade Minister Nguyen Hong Dien and US Trade Representative Jamieson Greer happ...

The chief global strategist at JPMorgan Chase says the US may avoid a recession, but the bank’s economic outlook is not yet optimistic. In a new interview on CNBC Television, David Kelly says that tariffs and other economic factors may cause the country’s economy to slow down in the months ahead. Ho...

Hard-right Republicans in Congress killed Trump’s long-promised tax overhaul on Friday, the same day Moody’s pulled the US government’s last AAA credit rating, slamming Washington for its runaway debt and refusal to cut spending. The rejection of the bill by five Republicans on the House Budget Comm...

President Donald Trump said that India is ready to remove all tariffs on American goods, yet he signaled that he is not rushing toward a trade deal with India. India is the world’s fourth-largest economy and a key buyer of many U.S. farm and tech goods. In an interview with Fox News host Bret Baier ...

The US has completely lost its highest credit rating, AAA, following the downgrade decision by Moody's, the last of the leading credit rating agencies. Moody's announced that the US credit rating was downgraded to Aa1 due to rising budget deficits and rising interest costs. The organization noted th...

Jerome Powell has told the Federal Reserve to start cutting jobs. In a memo obtained by Bloomberg , Powell said the central bank will lower its workforce by 10% over the next two years. That would mean reducing its nearly 24,000 employees to under 22,000, using what he called a “voluntary deferred r...

The UK now holds $779.3 billion in US Treasurys, pushing past China’s $759.0 billion and taking second place among foreign holders of American government debt, according to the March update from the US Department of the Treasury’s Major Foreign Holders of Treasury Securities table released on Friday...

President Donald Trump hints that the US will unilaterally impose new tariffs on its trading partners rather than negotiate deals with all of them. He claimed they would announce new tariffs soon since meeting with all its partners would be impossible. Trump will announce new tariffs over the next t...

Goldman Sachs President John Waldron says the recent dip in investors’ U.S. dollar holdings is a move back to normal levels, not a mass exit from American assets. In an interview with Reuters , he called the change “lightening up,” adding that investors are trimming only the extra dollars they piled...