Latest Economy News
Money Gambians send home from Europe is a lifeline for their families but the sacrifices take a toll
KWINELLA, Gambia (AP) — Binta Bah met her husband last year on a dating app and instantly fell in love. They spent hours every day glued to their mobile phones and soon got married on a video call. But they've met in person only once, when Suleyman Bah came home to Gambia for a...
Fed's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts
WASHINGTON (AP) — The Federal Reserve's preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next. Prices rose just 0.1% from July to August, the Commerce...
Richmond Fed president urges caution on interest rate cuts because inflation isn't defeated
WASHINGTON (AP) — The president of the Federal Reserve's Richmond branch says he supports reducing the central bank's key interest rate “somewhat” from its current level but isn't yet ready for the Fed to fully take its foot off the economy's brakes. In an interview Thursday...
Australian treasurer, visiting Beijing, welcomes Chinese efforts to stimulate its economy
BEIJING (AP) — Australian Treasurer Jim Chalmers on Friday welcomed Chinese efforts to stimulate its slowing economy, noting that its recent weakness has hurt Australia. Chalmers was wrapping up a two-day visit to Beijing, the first to China by an Australian treasurer in seven...
US economy grew at a solid 3% rate last quarter, government says in final estimate
WASHINGTON (AP) — The American economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said Thursday, leaving its previous estimate unchanged. The Commerce Department reported that the...
China redoubles first-aid for its economy with support for banks and workers
China is redoubling its first-aid for its economy, targeting banks, workers and poor families as the ruling Communist Party prepares to mark the 75th anniversary of the founding of the People’s Republic. Unconfirmed reports Thursday by the South China Morning Post and Bloomberg...
The IMF approves a $7 billion loan for Pakistan, which will get $1 billion immediately
ISLAMABAD (AP) — The executive board of the International Monetary Fund has approved a new $7 billion loan for cash-strapped Pakistan, authorities said Wednesday, more than two months after the two sides said they had reached an agreement. The loan — which Islamabad will receive...
Harris is making a 'capitalist' pitch to boost the economy as Trump pushes deeper into populism
PITTSBURGH (AP) — Vice President Kamala Harris on Wednesday pledged to build an economy that is both pro-business and helps the middle class as she pushed back against Republican nominee Donald Trump ’s claims that she’s advancing “communist” ideas. The Democratic nominee...
Czech central bank cuts its key interest rate to 4.25%
PRAGUE (AP) — The Czech Republic’s central bank on Wednesday cut its key interest rate for the seventh time in a row as inflation remains low and amid the economy’s slow recovery. The cut, which had been predicted by analysts, brought the interest rate down by a quarter of a...
Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions
Developing economies in Asia are forecast to grow at a 5.0% annual pace this year, helped by a strong U.S. economy and surging demand for computer chips that power artificial intelligence, the Asian Development Bank said in a report Wednesday. The forecast was revised upward slightly...
