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US Economy

US Job Growth Cools But Remains Healthy: Bloomberg

US employers likely moderated hiring in December, concluding a year of steady job growth, according to a Bloomberg report. Economists surveyed by Bloomberg predict approximately 160,000 jobs were added, putting the average monthly job growth for 2024 near 180,000—a decline from previous years but still indicative of

Repeat Defaults Hit Record High in Leveraged Loan Market: JPMorgan

A record number of companies repeatedly defaulted on their debt in 2024, according to a JPMorgan Chase & Co. report cited by Bloomberg. This trend underscores the continuing strain on corporate balance sheets, particularly within the leveraged loan market where interest rates are increasing. The JPMorgan report reveals that roughly

US Manufacturing Shows Signs of Life as PMI Hits Nine-Month High

The US manufacturing sector showed signs of improvement in December, as reported by Reuters, citing data released by the Institute for Supply Management (ISM) on Friday. According to the latest release, the Purchasing Managers' Index (PMI) rose to 49.3, its highest level since March. This represents a notable

US New Home Sales Rebound in November, But Rising Mortgage Rates Loom

Sales of new US single-family homes rebounded in November after being depressed by hurricanes the previous month, according to the Commerce Department's Census Bureau. However, rising mortgage rates could dampen sales in the coming year, reports Reuters. New home sales jumped 5.9% to a seasonally adjusted annual

US Consumer Spending Remains Strong as Inflation Moderates

US consumer spending increased in November, signaling continued strength in the economy despite rising interest rates, reports Reuters. This resilience comes as the Federal Reserve this week projected fewer interest rate cuts in 2025 than previously anticipated. The Commerce Department reported Friday that consumer spending rose 0.4% last month,

Trump's Policies May Limit Fed Rate Cuts in 2025

The Federal Reserve's "hawkish" quarter-point rate cut, the third of 2024, signals a shift towards a more cautious approach to monetary policy, and President-elect Donald Trump's proposed policies could further limit the central bank's ability to lower rates in 2025, according to

Trump Threatens EU with Tariffs Over Oil and Gas Imports

President-elect Donald Trump has warned the European Union that it must significantly increase purchases of US oil and gas or face tariffs on a wide range of exports, including cars and machinery, reports Reuters. Trump, who takes office on January 20, 2025, issued the ultimatum in a post on Truth

Fed Cuts Rates, But Mortgage Costs Climb Higher

Despite the Federal Reserve's efforts to lower interest rates and potentially make homes more affordable, mortgage costs continue to rise, reports the Wall Street Journal. This unexpected outcome is driven by several factors, including rising long-term Treasury yields and stubborn inflation. Average 30-year mortgage rates have climbed to

US Economic Growth Revised Upward to 3.1% in Third Quarter

The US economy grew at a faster pace in the third quarter than previously estimated, fueled by stronger consumer spending and exports, reports Bloomberg. Gross domestic product (GDP) increased at an annualized rate of 3.1% in the July-to-September period, according to the Bureau of Economic Analysis' third estimate

Trump-Backed Funding Plan Fails, Government Shutdown Looms

The Republican-led House of Representatives rejected a temporary funding plan backed by President-elect Donald Trump on Thursday, with just over 24 hours to spare before a US government shutdown, reports Bloomberg. The move capped an extraordinary two days in Washington that tested the incoming president's power. Trump and