Specialized search for economics

2+ min ago (600+ words) Kevin Hassett defends Fed independence as Trump weighs him and Kevin Warsh for chair, prediction markets shift, and fresh rate cuts keep crypto in wait-and-see mode." Kevin Hassett, a leading candidate to become the next chair of the U.S. Federal Reserve, stated that the central bank's decision-making process would remain insulated from political pressure, according to remarks made on CBS News' Face the Nation on Sunday. Hassett emphasized the Federal Reserve's institutional independence and addressed concerns about potential presidential influence over monetary policy. An announcement on the next Fed chair is expected in mid-January, according to reports. When asked whether President Donald Trump's opinions could carry weight inside the Fed, Hassett responded, "No, no, he would have no weight. It's just his opinion matters if it's good, you know, if it's based on data." Hassett explained that any policy argument would…...

3+ min ago (144+ words) TOKYO -- China's retail sales growth slowed sharply in November, the latest data showed Monday, reflecting subdued household confidence as measures to China's retail sales slow sharply amid property downturn November reading marks nearly three-year low as government vows renewed efforts TOKYO -- China's retail sales growth slowed sharply in November, the latest data showed Monday, reflecting subdued household confidence as measures to halt the country's property downturn have yet to buoy home prices. China's consumers hunt for bargains after subsidy-fueled demand fizzles China revs up global sales push despite Trump's trade war Trump's tariffs dented US trade with Asia, but Southeast Asia imports grew China signals investment push next year as domestic demand falters China urges Mexico to 'correct erroneous practices' over tariff hikes Pinduoduo executives detained over alleged fight with inspectors: sources Japan to form new public-private council on economic…...

9+ min ago (353+ words) India's wholesale inflation inched up to "0.32 per cent in November from "1.21 per cent in October, signalling a gradual easing of deflationary pressures even as much of the commodity basket continued to remain weak. The uptick marks a recovery from October's 12-month low in the Wholesale Price Index (WPI) and suggests that the sharp phase of wholesale deflation may be behind the economy. The improvement was largely driven by a slower pace of decline in primary articles, especially food items, after months of steep price corrections. Although wholesale prices stayed in negative territory, November's reading points to a stabilisation trend taking hold. Food prices continued to exert the biggest drag on wholesale inflation, though the extent of the decline softened. The food index remained in contraction, but the rate of fall narrowed as vegetable prices stabilised following earlier sharp drops. Vegetable…...

12+ min ago (151+ words) TOKYO -- Business sentiment among large Japanese manufacturers improved for a third consecutive quarter in the October-December period, according to t Japan business mood brighter for 3rd straight quarter: BOJ survey Quarterly outlook comes ahead of much-anticipated central bank meeting TOKYO -- Business sentiment among large Japanese manufacturers improved for a third consecutive quarter in the October-December period, according to the latest survey by the Bank of Japan. Market braces for BOJ hike amid stubbornly weak yen and wage growth Japan's top 3 banks poised to loan up to $13bn to chipmaker Rapidus Japan borrowing costs seen doubling if benchmark yield surges to 2.5% BOJ chief Ueda says higher wages will underpin inflation As BOJ rate decision nears, Takaichi government signals openness to hike Japan's MUFG to revive money market funds for 1st time in 10 years Japan 10-year yields seen rising on bets of rate hikes, more…...

20+ min ago (377+ words) New Delhi, Dec 15 (PTI) Wholesale price inflation (WPI) came in at (-) 0.32 per cent in November, driven by an uptick in prices of food articles like pulses and vegetables on a month-on-month basis, government data showed on Monday. WPI-based inflation was (-) 1.21 per cent in October and 2.16 per cent in November last year. "Negative rate of inflation in November 2025 is primarily due to a decrease in prices of food articles, mineral oils, crude petroleum & natural gas, manufacture of basic metals and electricity, etc," the industry ministry said in a statement. According to WPI data, deflation in food articles was 4.16 per cent in November, compared to 8.31 per cent in October. In vegetables, deflation was 20.23 per cent in November, as against 34.97 per cent in October. In pulses, deflation was at 15.21 per cent in November, while in potato and onion it was 36.14 per cent and…...

24+ min ago (450+ words) Bitcoin has tanked again in a typical and now repetitive late Sunday slump, sending the asset below $88,000 briefly. "Mass amounts of economic data from the government shutdown have officially arrived," said the Kobeissi Letter, highlighting key inflation reports out this week. Meanwhile, US President Trump has touted the success of his trade tariffs, claiming that the country has taken in $18 trillion in revenue as a result. Several major crypto firms received conditional approval last week to become national trust banks in a step that could make stablecoins more mainstream, but this wasn't enough to prevent markets from falling again. Tuesday will see the release of October retail sales data and the November jobs report, both of which will be eyed by policymakers. Strong employment data could validate the Fed's cautious stance from last week.However, further labor market weakness could…...

34+ min ago (236+ words) The EUR/USD pair'kicks off the new week on a softer note, though it remains within striking distance of the highest level since early October, touched last Thursday. Spot prices currently trade around the 1.1730 region, down less than 0.10% for the day. The GBP/USD pair remains on the defensive during the Asian session on Monday, though it lacks bearish conviction and holds above the 200-day Simple Moving Average pivotal support. Spot prices currently trade around the 1.3360 region, nearly unchanged for the day. Gold'price attracts some buyers to around $4,315 during the early Asian trading hours on Monday. The precious metal extends its upside to the highest since October 21 amid the prospect of interest rate cuts by the US'Federal Reserve next year. The delayed US Nonfarm Payrolls report for October will be in the spotlight later on Tuesday.' After Fed decision, dollar…...

35+ min ago (426+ words) New Delhi: Crisil on Monday said the Indian economy is poised to grow at 7.0 per cent in the current fiscal year 202526, raising its projection by 50 basis points after robust growth in the first half of the year. The ratings and analytics firm revised its GDP forecast following first-half growth of 8 per cent, which exceeded market expectations. "We expect GDP to grow at 7 per cent in fiscal 2026, compared with 6.5 per cent in fiscal 2025," Crisil said in its report. Domestic consumption is expected to remain the key driver of growth, supported by benign inflation, GST rationalisation, and income tax relief. However, Crisil cautioned that US tariffs pose risks to India's exports and investments, while developments around a potential USIndia trade deal remain watchful. GDP growth rose to a six-quarter high of 8.2 per cent year-on-year in the second quarter of fiscal 2026, up from…...

35+ min ago (524+ words) Slower rises in food prices and services costs behind predicted drop when latest figures are revealed this week Inflation is set to fall from 3.6 per cent when the latest figure is released this Wednesday, though it will remain well above the Bank of England target level, experts are predicting. Most forecasters estimate that the consumer prices index (CPI) measure of inflation will be lower in November than it was in October, with further falls to come next year. Pantheon Macroeconomics has forecast that the figure will fall to 3.5 per cent, as has S&P Global Market Intelligence and the Centre for Economics and Business Research (CEBR). The Bank of England has predicted that it will fall even further, to 3.4 per cent. However, other economists believe the figure could rise, with Capital Economics predicting a climb to 3.7 per cent. Slower rises…...

35+ min ago (1061+ words) Reserve Bank governor Michele Bullock has warned the next five years could be marked by a slow-moving global economic decay as the unintended consequences of Donald Trump's policies to make America great translate into higher costs and slower growth. In an exclusive interview, Bullock said the fallout from the Trump administration's global tariff campaign would be similar to the trouble afflicting the British economy from Brexit. Michele Bullock at her last press conference of 2025 explaining the direction of interest rate movements.Credit: Louie Douvis As the first RBA governor to give regular press conferences, she has revealed her approach to communicating with the public " by trying to explain difficult economic concepts as if she were talking to her mother. The bank is this week releasing a report into how it has responded to the 51 recommendations made by an independent review…...