Washington, July 16 (IANS) Federal Reserve Chairman Kevin Warsh has said that “inflation is a choice” and pledged that persistently high price growth would not continue under his leadership, signalling that restoring price stability remains the US central bank’s overriding priority despite uncertainty over artificial intelligence, geopolitical tensions and other economic risks.Appearing before the Senate Banking Committee on Wednesday (local time) for his first semiannual monetary policy hearing…
Latest US economy News & Updates
Washington, July 16 (IANS) Federal Reserve Chairman Kevin Warsh has said that the United States is witnessing the biggest wave of business investment in a generation, driven largely by artificial intelligence (AI), and predicted that the technology would ultimately create jobs, lift productivity and strengthen the American economy despite short-term disruption. Appearing before the Senate Banking Committee on Wednesday (local time) for his first semiannual monetary policy hearing since taking of…
Washington, June 25 (IANS) The International Monetary Fund (IMF) on Thursday said the US economy continues to show solid momentum despite inflation remaining above the Federal Reserve’s target, backing the central bank’s decision to leave interest rates unchanged while cautioning that future policy moves should depend on incoming economic data. Speaking at a regular IMF press briefing, Julie Kozack, Director of the IMF’s Communications Department, said recent economic indicators pointed to conti…
Washington, June 9 (IANS) A group of senior House lawmakers has introduced legislation aimed at preventing Chinese entities identified as national security threats from obtaining US patents, arguing that Beijing has used America’s intellectual property system to advance its economic and technological ambitions.The proposed legislation, called the Prohibiting Adversarial Patents Act, was introduced by House Select Committee on China Chairman John Moolenaar, Congressman Scott Fitzgerald and Congre…
Washington, June 7, (IANS) US President Donald Trump on Sunday expressed confidence in newly appointed Federal Reserve Chair Kevin Warsh on Sunday, saying he was “fantastic” and should make his own decisions on monetary policy, while arguing that the US Central bank should lower interest rates rather than raise them despite a stronger-than-expected jobs report. In an exclusive interview with NBC’s Meet the Press, Trump said he did not intend to pressure Warsh as he prepares to chair his first Fe…
New Delhi, June 6 (IANS) April and May high‑frequency indicators showed above‑average acceleration in growth and, if the trend continues in June, FY27 growth could surpass the Reserve Bank of India’s estimate of 6.6 per cent, a report said on Saturday.The report from SBI Research said, “Despite external headwinds, the Indian economy is poised to remain the fastest‑growing major economy in FY27 by leveraging its sound macroeconomic fundamentals and robust financial sector.”Further, “defla…
Washington, June 5, (IANS) US Treasury Secretary Scott Bessent on Thursday vigorously defended President Donald Trump’s economic agenda during a contentious House Ways and Means Committee hearing, rejecting Democratic criticism over inflation, tariffs and the administration’s handling of the economy. Appearing before the committee to discuss the administration’s 2027 budget, Bessent argued that Trump’s tax, trade and deregulation policies were delivering benefits to working Americans, while Demo…
New Delhi, May 24 (IANS) US Secretary of State Marco Rubio on Sunday described the United States as a “welcoming country” and termed the racist comments made against Indians as the actions of “stupid” people. Addressing a joint press conference with External Affairs Minister S Jaishankar, Rubio stated that he takes such comments very seriously.On being asked about racist remarks against Indians in the US, he responded: “I don’t know how to address that, but I’ll take that very seriously about th…
Washington, May 23 (IANS) A bipartisan group of US lawmakers has urged the Trump administration to retain the existing visa framework for international students and scholars, warning that proposed restrictions could damage America’s technological edge, economic competitiveness and research leadership.In a letter sent to Homeland Security Secretary Markwayne Mullin and Office of Management and Budget Director Russ Vought, four members of Congress cautioned against replacing the current “Durat…
Washington, May 21 (IANS) Republican Senator Rick Scott has introduced legislation that would require the US government to determine whether several Chinese technology firms pose threats to national security.The proposed “Blocking CCP Spy Tech Act of 2026” targets a group of Chinese companies known as the “Six Little Dragons”, including DeepSeek, Game Science, Unitree Robotics, DEEP Robotics, BrainCo and Manycore Tech.The companies are based in Hangzhou, China, and are seen as part of Be…