Washington, March 31 (IANS) US Trade Representative Jamieson Greer said on Tuesday that the US is largely shielded from supply chain disruptions stemming from tensions in the Strait of Hormuz, but these disruptions are impacting key Asian economies. “Right now, I think the thing to understand is that the United States is generally insulated from a lot of the supply chain effects when it comes to… direct commodities,” Greer told Bloomberg in an interview, noting reliance on “domestic sourcing” …
Latest US economy News & Updates
Washington, March 19 (IANS) Federal Reserve Chair Jerome Powell said the US central bank was keeping interest rates unchanged as it monitored the fallout from higher oil prices and broader uncertainty linked to the conflict in the Middle East. Powell on Wednesday (local time) said the Federal Open Market Committee decided to keep its policy rate unchanged because the current stance remained appropriate. He said the US economy was expanding at “a solid pace”, even as inflation stayed above ta…
New Delhi, March 13 (IANS) India’s GDP is expected to grow 7.5 per cent in the fiscal year ending March 2026 higher than 7.4 per cent forecasted earlier, due to resilient domestic demand even as activity showed tentative slowing in January and February, a report said on Friday.Credit rating agency Fitch Ratings said domestic demand will drive the growth, with consumer spending and investment expected to expand by 8.6 per cent and 6.9 per cent, respectively, in FY26.High frequency indicators in…
Washington, March 10 (IANS) US President Donald Trump used a closed-door address to House Republicans in Florida to mix wartime rhetoric with election-year politics, praising US military action against Iran and pressing lawmakers to rally behind what he called the “Save America Act”.Speaking at the Republican Members’ Issues Conference at Doral, on Monday Trump said House Republicans were part of “one of the most consequential Republican majorities in history” and argued that their legis…
New Delhi, Feb 27 (IANS) Gold and silver prices posted strong gains on Friday, amid rise in the US-Iran tensions and marginal decline in US dollar.MCX gold April futures gained 0.43 per cent to Rs 1,60,399 per 10 grams around 12.30 am on an intra-day basis. Meanwhile, MCX silver March futures gained 3.05 per cent to Rs 2,67,600 per kg.The US-Iran nuclear negotiations were extended without any clear progress, keeping geopolitical tensions elevated. The buildup of US troops led to both countries e…
Chandigarh, Feb 11 (IANS) Bharatiya Janata Party’s Punjab unit President Sunil Jakhar on Wednesday invited farmer organisations for dialogue, stating that “if they see any shortcomings in the India-US trade agreement, they should choose the path of discussion rather than agitation”.He reiterated that the agreement would not have any adverse impact on farmers, especially those in Punjab, and will instead benefit industry and trade while creating new employment opportunities for the youth.Speaking…
Washington, Feb 11 (IANS) President Donald Trump on told Fox Business that the US economy is “going great” as he touted record stock-market levels and said he wants Congress to pass a voting package he called the “Save America Act” ahead of the midterm elections.In an interview with Larry Kudlow on Fox Business’ “Kudlow”, Trump pointed to market milestones. “When you say 50,000, and by the way, uh, S&P 7,000—,” he said, adding, “we’re at the end of the first year.”Tru…
Washington, Feb 3 (IANS) US Agriculture Secretary Brooke Rollins and Energy Secretary Doug Burgum welcomed the US–India trade deal, citing benefits for farmers, energy producers and the broader US economy.Rollins said the agreement would expand US farm exports to India’s large and growing market. “New US-India deal will export more American farm products to India’s massive market, lifting prices, and pumping cash into rural America,” she said.She noted that in 2024 the US agricultural …
Washington, Jan 29 (IANS) Federal Reserve Chair Jerome Powell said that higher US inflation is being driven mainly by tariffs on goods, not excess demand — an assessment that could shape expectations for global trade-linked economies. “These elevated readings largely reflect inflation in the goods sector, which has been boosted by the effects of tariffs,” Powell said on Wednesday (local time), while stressing that price pressures in services continue to ease.The Federal Open Market Committe…
Washington, Jan 28 (IANS) Rhetoric and policy uncertainty around the H-1B visa programme risk damaging India-US relations and undermining confidence among skilled workers and businesses at a sensitive moment in bilateral ties, a senior US lawmaker has warned.Mark Warner, Chairman of the Senate Intelligence Committee and Co-Chair of the Senate India Caucus, told IANS in an exclusive interview that recent announcements targeting the H-1B programme had created confusion and anxiety, particularly am…