By Ann Saphir PALO ALTO, Calif. (Reuters) -The Federal Reserve is getting interest rates closer to where they need to be to win the battle against inflation, a pair of U.S. central bankers said on Friday, though neither gave a clear signal on whether they feel they have reached that point. Coming a week after…
By Daina Beth Solomon and Julio-Cesar Chavez CIUDAD JUAREZ, Mexico/EL PASO, Texas (Reuters) -The Biden administration began implementing a sweeping policy shift at the U.S.-Mexico border on Friday as a COVID-era order that had allowed the swift expulsion of many migrants expired and new asylum restrictions took effect amid confusion and uncertainty. Several last-minute court…
PALO ALTO, Calif. – Federal Reserve Governor Philip Jefferson said on Friday he is just as serious about the central bank’s goal of full employment as about its mandate for stable prices, but emphasized that bringing high inflation down is critical. “I care very much about how the labor market performs because for most people…
(Reuters) -Finance leaders of the Group of Seven (G7) advanced economies set a year-end deadline for launching a new scheme to diversify global supply chains, and vowed to address regulatory gaps in the banking system, according to a final draft of their communique seen by Reuters. In the draft communique, the G7 central banks said…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended slightly lower on Friday, led by weaker megacap shares following their recent rally, as data showed U.S. consumer sentiment dropped to a six-month low. The Dow was barely lower in its fifth straight day of declines, the blue-chip index’s longest losing streak in two months….
PALO ALTO, Calif. (Reuters) – St. Louis Federal Reserve Bank President James Bullard, an early and vocal supporter within the U.S. central bank of rapid interest-rate hikes to beat back soaring inflation, on Friday signaled guarded optimism that the effort is working. “Monetary policy is now at the low end of what is arguably sufficiently…
By Pete Schroeder and David French (Reuters) -Two U.S. regulators have approved the sale of a majority stake in TIAA’s banking arm to a consortium of private equity firms, a TIAA spokesperson said on Friday. The spokesperson said TIAA now expects the deal to be completed as early as this summer after the Federal Reserve…
By Ann Saphir, Andrea Shalal and Jeff Mason WASHINGTON (Reuters) -U.S. President Joe Biden on Friday nominated Federal Reserve Governor Philip Jefferson to be the central bank’s vice chair, a key policy advisory role recently vacated when Lael Brainard took a top position in Biden’s White House economics team. Biden also nominated the World Bank’s…
By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Administration (NHTSA) demanded the recall of 67 million air bag inflators because it believes there is a safety defect, but auto supplier ARC Automotive Inc rejected the U.S. regulator’s request, documents released on Friday show. The auto safety agency said the inflators pose an unreasonable…
By Daina Beth Solomon CIUDAD JUAREZ, Mexico (Reuters) – Oriana Silva, a 30-year-old Venezuelan mother of two, was so determined to make it to the United States that she entered illegally and was expelled back to Mexico five times in seven months. Now, she is trying another way she hopes will be easier: the U.S….
