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☆ Fed officials aren’t easing Wall Street’s nerves
▼ + stars: | 2024-05-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs. But now Wall Street, eager for rate cuts, is on edge again. But some financial leaders remain doubtful that the Fed is feeling confident enough to cut rates soon. “I think we’re set up for stickier inflation.”Some Fed officials say another rate hike isn’t likelyFed officials have mostly sounded a little more optimistic about inflation recently, after the Consumer Price Index for April finally provided some welcome news. Cleveland Fed President Loretta Mester told Bloomberg on Monday that she also thinks interest rates are high enough to deal with inflation.

Persons: they’re, Dow, Christopher Waller, ” Waller, Goldman Sachs, David Solomon, “ I’m, ”, “, Philip Jefferson, Mary Daly, Axios, Jerome Powell, Klaas Knot, Loretta Mester, Chris Larkin Organizations: Washington CNN, Federal Reserve, CNBC, ”, Peterson Institute for International Economics, Boston College, Mortgage, Association, ” San Francisco Fed, European Central Bank Governing, Cleveland Fed, Bloomberg, “ Locations: ” San

☆ Fed officials seem like they have ‘no idea’ what is going on with U.S. inflation, strategist says
▼ + stars: | 2024-05-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

"I think the message that's coming through is that they have no idea what's going on," Howard said on CNBC's "Squawk Box Europe" on Wednesday. Fed Governor Christopher Waller on Tuesday said that he needed to see further data evidence that inflation was softening before supporting rate cuts. Waller's comments were echoed by other Fed officials on Tuesday, including Boston Fed President Susan Collins. 'A credibility problem'But Fed officials have not come out with a clear message about their expectations or to address why inflation remains elevated, GAM's Howard said. "And now [policymakers] think inflation is coming down but its not coming down fast enough," he said.

Persons: Valerie Plesch, Julian Howard, Howard, Christopher Waller, Waller's, Susan Collins, GAM's Howard, They've Organizations: Eccles Federal, Bloomberg, Getty, Federal, GAM, Fed, Peterson Institute for International Economics, Boston Fed, Atlanta Federal Reserve Locations: Washington , DC, U.S, Washington

☆ Trump’s new trade war would cost middle-class families at least $1,700 a year, report warns
▼ + stars: | 2024-05-21 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

New York CNN —Former President Donald Trump’s trade agenda amounts to a tripling-down of the trade war he waged during his first term in office. That’s nearly five times the total cost as a share of GDP from the 2018-2019 US-China trade war. Trump’s tariff proposals would cost the typical middle-income household at least $1,700 a year, the researchers found. Those aren’t comparable numbers,” Clausing said, referring to the amount of imports targeted by Biden and by Trump tariffs. Likewise, the US International Trade Commission found in a 2023 study that US importers “bore nearly the full cost” of tariffs.

Persons: Donald Trump’s, Trump, That’s, Kimberly Clausing, Mary Lovely, Clausing, aren’t, ”, Joe Biden, “, Biden, ” Biden hasn’t, Janet Yellen, ” Yellen, ” Clausing, Karoline Leavitt, ’, Bidenomics, ” Leavitt, Leavitt, Moody’s, Mark Zandi, ” Goldman Sachs, ” ‘, ” Chris Krueger Organizations: New, New York CNN, Trump, Peterson Institute for International Economics, Peterson Institute, UCLA School of Law, CNN, ” Biden, Biden, Treasury Department, US International Trade Commission, “, Cowen’s Washington Research Group Locations: New York, China, Frankfurt, Germany, Europe, United States, U.S, Washington

☆ Fed Governor Waller wants 'several months' of good inflation data before lowering rates
▼ + stars: | 2024-05-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Federal Reserve Governor Christopher Waller, citing a string of data showing that inflation appears to be easing, said Tuesday that he does not think further interest rate increases will be necessary. Yet Waller said he's not ready to back interest rate cuts. Markets have had to recalibrate their expectations for monetary policy this year. In the early months, futures markets traders priced in at least six rate cuts this year starting in March.

Persons: Christopher Waller, Waller, he's Organizations: US Federal Reserve, Washington , D.C, Federal, Peterson Institute for International Economics, Market, Labor Department Locations: Washington ,, Washington

☆ Biden’s trade chief walks back comments contradicting Biden on tariffs and inflation
▼ + stars: | 2024-05-16 | by ( Matt Egan | Kayla Tausche | ) edition.cnn.com time to read: +8 min

Research shows that former President Donald Trump’s tariffs on China did indeed raise prices on consumers and businesses — despite his claims otherwise. The study found tariffs imposed by former President Donald Trump did not meaningfully contribute to inflation. “The new Biden tariffs, like the more extensive ones that Trump has promised, will worsen US inflation. It is fair to debate how much the Biden tariffs will impact inflation because they are not nearly as widespread as what Trump imposed and what Trump is promising if he’s reelected. Trump enacted sweeping tariffs on $300 billion in Chinese imports, setting off a trade war between the world’s two biggest economies.

Persons: Katherine Tai, Joe Biden’s, ” Tai, —, Donald Trump’s, Tai, Angela Perez, Donald Trump, Goldman Sachs, Tai’s, “ Trump, ” Biden, “, Alex Durante, Tai’s “, Maury Obstfeld, Biden, ”, Trump, he’s, ” Perez, White, Morgan, Daleep Singh, Jen Psaki, Jared Polis, ” Polis, Ed Mills, Raymond James, David Kelly, ” Kelly Organizations: New, New York CNN, US, White, Research, CNN, US International Trade Commission, “, China, Tax, Obama, Peterson Institute for International Economics, Biden, Atlantic Council, Bretton, Committee, ”, Colorado Gov, Republicans, Asset Management Locations: New York, China, Ukraine, EVs, Europe

☆ Biden signs bill banning imports of Russian uranium for nuclear fuel
▼ + stars: | 2024-05-14 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Ready-to-ship canisters filled with enriched uranium at the Urenco USA uranium enrichment facility near Eunice, New Mexico, US, on Tuesday, July 11, 2023. Russia's invasion of Ukraine is forcing the US and Europe to search for alternative sources of enriched uranium to power their reactors. The United States will ban imported Russian uranium starting on Aug. 11, the U.S. Department of Energy announced Tuesday. "Our nation's clean energy future will not rely on Russian imports," U.S. Energy Secretary Jennifer Granholm said in a statement. "Banning imports of Russian uranium will jumpstart America's nuclear fuel industry, further defund Russia's war machine, and help revive American uranium production for decades to come," Barrasso said in a statement on Monday after the bill's enactment.

Persons: Joe Biden, Jennifer Granholm, Sen, John Barrasso, Barrasso, Anatoly Antonov, Biden, – Organizations: U.S . Department of Energy, Department of Energy, U.S, Exchange, Uranium, Uranium Miners, U.S . Energy, U.S ., Energy, Natural Resources Locations: Eunice , New Mexico, Russia's, Ukraine, Europe, United States, Russia, U.S

☆ What Biden’s tariffs on Chinese imports may mean for American jobs, the economy and inflation
▼ + stars: | 2024-05-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Biden’s tariff plan likely won’t move the needle for monetary policy, said Ryan Sweet, chief US economist at Oxford Economics. “Consumers and producers often pay higher prices when tariffs are implemented.”That’s because tariffs tax imports when they come ashore, adding costs for US distributors, retailers and, ultimately, consumers. Worse, some businesses appeared to take advantage of the trade war by bumping up prices even higher. Container shipping imports from China to Mexico rocketed higher by 60% in January and 34% for the first quarter, Xeneta data shows. “It’s obvious that imports to this extent are not only for domestic purposes in Mexico,” he said.

Persons: Biden, Joe Brusuelas, Donald Trump’s, Trump, —, Ryan Sweet, ” Sweet, Sweet, George W, Bush, Barack Obama, Goldman Sachs, ”, Wells, Nicole Cervi, “ There’s, ” Cervi, Peter Sand, “, Sand, “ It’s Organizations: CNN, RSM US, stoke, Oxford Economics, Biden, Peterson Institute for International Economics, Trump, Federal, “, US International Trade Commission, New, New York Fed, National Bureau of Economic Research, Republican, ramped, Container Locations: China, New York, “, South Korea, Singapore, Taiwan, Vietnam, Wells, Mexico

☆ Russia's economic survival hinges on prolonging the Ukraine war, think tank expert says
▼ + stars: | 2024-05-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Russia needs to keep its war with Ukraine going or risk an economic hard landing, Elina Ribakova wrote for the Financial Times. The country's military industry has been a major driver of structural economic strength during the war. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But while this may look good on paper, the country is actually at risk of a hard landing if war efforts cease, Elina Ribakova said. For decades," Ribakova wrote.

Persons: Elina Ribakova, Ribakova, —, Vladimir Putin, That's Organizations: Financial Times, Service, Financial, International Monetary Fund, Peterson Institute for International Locations: Russia, Ukraine, Russian, Moscow

☆ U.S.-China relations are 'dangerous' but better managed, says Longview Global's Dewardric McNeal
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S.-China relations are 'dangerous' but better managed, says Longview Global's Dewardric McNealDewardric McNeal, managing director and senior policy analyst at Longview Global, Nicholas Lardy, senior fellow at Peterson Institute for International Economics join CNBC's 'The Exchange' to discuss Secretary Blinken's visit to China, industrial policy, and more.

Persons: Dewardric McNeal Dewardric McNeal, Nicholas Lardy, Blinken's Organizations: U.S, Longview Global, Peterson Institute for International Economics, CNBC's Locations: China, Longview

☆ U.S. tech CEOs give India PM Modi boost ahead of election
▼ + stars: | 2024-04-18 | by ( Seema Mody | ) www.cnbc.com time to read: +2 min

The ironclad relationship that India Prime Minister Narendra Modi has developed with CEOs of the largest U.S. tech companies is giving his nation the foreign support that India has craved for more than a decade. The promise of further economic growth in India as China's economy slows has led many American CEOs to support Modi's policies. Ahead of the election, Apple's expansion into India in particular has given Modi political clout and created more investing interest among U.S. companies, experts told CNBC. Modi has established an ongoing dialogue with a range of powerful Silicon Valley CEOs as India's national election starts. The election, which will end in early June, is expected to see more than 960 million citizens vote.

Persons: Sundar Pichai, Tim Cook, Narendra Modi, Manjari Chatterjee Miller, Modi, India's, –, Pravin Krishna, Chung Ju Yung Organizations: Apple, Washington , D.C, India, Indian, CNBC, Council, Foreign Relations, Johns Hopkins University, Bharatiya Janata Party Locations: Washington ,, India, Washington, Beijing, Pakistan, South Asia, Modi's

☆ Nicholas Lardy: I am skeptic on the idea that consumer confidence in China is very weak
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNicholas Lardy: I am skeptic on the idea that consumer confidence in China is very weakNicholas Lardy from Peterson Institute for International Economics on why he is constructive on Chinese economy.

Persons: Nicholas Lardy Organizations: Peterson Institute for International Locations: China

☆ How Trump’s tariff plans could kill jobs and worsen inflation
▼ + stars: | 2024-04-11 | by ( Matt Egan | ) edition.cnn.com time to read: +10 min

Trump has floated a 10% across-the-board tariff on imports, a 60% tariff on imports from China and a 100% tariff on foreign cars – including from Mexico. Trump’s proposals, if enacted, could easily set off a new trade war with China and potentially other nations, too. Some economists are warning Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors. It’s hard to say exactly because there is a lot of uncertainty over how much of Trump’s proposed agenda would actually be enacted. That’s because tariffs tax imports when they come ashore, adding costs for US distributors, retailers and, ultimately consumers.

Persons: he’s, Donald Trump, Trump, ” Alex Durante, Trump’s, ”, Mark Zandi, Goldman Sachs, ” Goldman Sachs, Jan Hatzius, ” Goldman, Janet Yellen, Joe Biden’s, Karoline Leavitt, ” “, ” Leavitt, “, Biden, “ Donald Trump, ” Biden, James Singer, Biden’s, That’s, Durante, Joe Brusuelas, don’t, ” Brusuelas, Brusuelas, Liz, Maury Obstfeld, Obstfeld, Obama, ” Durante Organizations: New, New York CNN —, Tax Foundation, CNN, Trump, China, Bureau of Labor Statistics, Federal Reserve, RSM, Target, Walmart, Peterson Institute for International Economics, International Monetary Fund, US International Trade Commission, “, Obama Locations: New York, China, Mexico, Beijing, United States

☆ Yellen kicks off China meetings with overcapacity concerns, encouraging market-oriented reforms
▼ + stars: | 2024-04-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Ambassador to China Nicholas Burns (R) receive U.S. Treasury Secretary Janet Yellen (R) upon her arrival in Guangzhou on April 4, 2024. Pedro Pardo | Afp | Getty ImagesBEIJING — U.S. Treasury Secretary Janet Yellen kicked off her first full day of official meetings in China with discussion about overcapacity concerns and encouragement to pursue market-oriented reforms. It is her second trip to China as Treasury secretary. China's growth potentialGuangdong is one of the largest contributors to China's economic growth and home to the city of Shenzhen, a major hub for tech companies and startups. "In recent decades, [Guangzhou] was at the forefront of market-oriented reforms that advanced China's economic development and openness," Yellen said in prepared remarks for her meeting with Wang.

Persons: Liao Min, China Nicholas Burns, Janet Yellen, Pedro Pardo, Yellen, Wang Weizhong, Wang, I've, Nicholas R, Lardy Organizations: Finance, U.S, Treasury, Afp, Getty, Peterson Institute for International Economics, Foreign Affairs Locations: China, Guangzhou, BEIJING, U.S, Beijing, Guangdong province, United States, Guangdong, Shenzhen, Asia

☆ Switzerland becomes first major economy to cut interest rates in surprise move
▼ + stars: | 2024-03-21 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

The Swiss national flag hangs from the Federal Palace, Switzerland's parliament building, in Bern, Switzerland, on Thursday, Dec. 13, 2018. The Swiss National Bank cut its inflation forecast and showed no inclination of moving off its crisis-era settings, citing the francs strength and mounting global risks. Economists polled by Reuters had expected the Swiss central bank to hold rates at 1.75%. According to the new forecast, inflation is also likely to remain in this range over the next few years," the bank said. Swiss inflation continued to fall in February, hitting 1.2%.

Persons: Stefan Wermuth, Thomas Jordan, SNB Organizations: Swiss, Swiss National Bank, Bloomberg, Getty, Reuters, Capital Economics, Bank, Capital Locations: Switzerland's, Bern, Switzerland, Swiss

☆ What a Trump 2.0 Economy Would Look Like
▼ + stars: | 2024-03-15 | by ( Tim Smart | ) www.usnews.com time to read: +10 min

Overall, the Biden economic plan draws less than favorable reviews from voters. So, too, are promises of more tax cuts and a sharp curtailment of immigration. Trump was upset in 2019 that Powell was not doing enough to lower interest rates and stimulate the economy. The Trump tax cuts are set to expire in 2025, giving a second Trump administration the opportunity to fight that battle again. “A Trump 2.0 presidency would inherit very large fiscal deficits from the Biden Administration, rising interest expenses and an economy probably more prone to bouts of inflation,” the report said.

Persons: Muhammad Ali, Joe Frazier, Joe Biden, Donald Trump, Biden, Trump, There’s, ” Trump, it’s, ”, Patrick Horan, “, Tony Soprano, Patrick Kilbane, ” Kilbane, “ Trump, ” George Calhoun, Calhoun, ” Matt Gertken, Alex Nowrasteh, ” Michael Clemens, Clemens, Jerome Powell, Powell, Xi Jinping, Maria Bartiromo, reappoint Powell, Steve Mnuchin, ” Maxime Darmet, Darmet, Kevin McCarthy Organizations: Manila ”, Trump, CNBC, Monday, White, George Mason University, Ullmann Wealth Partners, Republican Party, Senate, Affordable, Quantitative, Stevens Institute of Technology, TikTok, Democratic, BCA Research, Labor, CATO Institute, Peterson Institute for International, University of Colorado, Federal Reserve, Federal, Biden, Fox Business, Trump Cabinet, House, Allianz Research, Biden Administration, U.S, Allianz Trade, Congress, GOP Locations: Manila, COVID, China, U.S, America, France

☆ If the US bans TikTok, China will be getting a taste of its own medicine
▼ + stars: | 2024-03-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

But American apps have long been barred in China. “The TikTok bill appears likely to become law and China’s displeasure seems ironic, if not hypocritical, given its stance toward American social apps,” said Brock Silvers, managing director at Kaiyuan Capital. The Chinese government has said it strongly opposes a forced sale of TikTok, and it has the legal ability to do so. A man walks past the headquarters of ByteDance, the parent company of TikTok, in Beijing. “While China has completely banned [these] American apps, TikTok enjoys all the benefits of America’s free and open legal and political systems,” he said.

Persons: Hong Kong CNN — TikTok, ByteDance doesn’t, Wang Wenbin, ”, Brock Silvers, Wang, Joe Biden, TikTok, CNN Beijing’s, Trump, Greg Baker, “, Winston Ma, Silvers, Alex Capri, Craig Singleton, “ We’ve, ” Capri Organizations: Hong Kong CNN, US, Foreign Ministry, Google, Kaiyuan, Chinese Commerce Ministry, ByteDance, Trump, CNN, Commerce Ministry, Getty, New York University School of Law, Foundation, National University of Singapore Business School, Foundation for Defense of Democracies, Weibo, Twitter, Facebook Locations: China, Hong Kong, United States, Beijing, TikTok, ByteDance, AFP, Washington, Washington , DC

☆ Explainer-How the West Might Use Russia's Frozen Reserves
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +5 min

Here are some of the ideas that have been suggested:CONFISCATIONSome international policymakers and lawyers say the immobilised Russian reserves can simply be confiscated under a doctrine of international law known as "countermeasures". Some in the bloc are still wary, though, and the European Central Bank has warned that claiming the trapped Russian assets should only be done in tandem with G7 powers. The bondholders would not have a contractual claim on the Kremlin’s frozen reserves. Ukraine would have a plausible way to collect on any damages awarded up to the value of the reserves. If Moscow refused to pay the damages, the allies could then use Russia’s frozen assets to pay off the loan.

Persons: Marc Jones, Lee Buchheit, Daleep Singh, Mark Heinrich Organizations: Marc Jones LONDON, Emergency Economic, U.S, European Central Bank Locations: Ukraine, Russia, Kuwait, United States, EU, Russian, Brussels, Belgium, U.S, Britain, China, Hong Kong, Dubai, Moscow

☆ Russia's resilience to sanctions shows it is 'costly and unattainable' to isolate a large and globally integrated economy, economist says
▼ + stars: | 2024-02-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

"The primary lesson is that seeking complete isolation of a large, complex and globally-integrated economy is costly and unattainable," Elina Ribakova wrote in the Financial Times on Tuesday. Russia's economy has managed to keep humming because Russian President Vladimir Putin has been preparing for sanctions since 2014. Failures in Russia, lessons for the futureEven so, the West can glean valuable lessons from its experience sanctioning an economy as large as Russia, said Ribakova. Advertisement"In the case of China, the US would need to look for vulnerabilities while remaining realistic about the limitations of sanctions," wrote Ribakova in FT.She added there must be steeper penalties for those who evade sanctions. "The experience with Russia is an invaluable opportunity to sharpen sanctions as a foreign policy tool," she wrote Ribakova.

Persons: —, Elina Ribakova, Vladimir Putin, Ribakova Organizations: Service, Financial Times, Business, Monetary Fund, Peterson Institute for International Economics, International Affairs Program, Kyiv School of Economics, Russia Locations: Ukraine, Russia, Moscow, Beijing, China, Taiwan

☆ Only one developed country has a more expensive childcare system than the US
▼ + stars: | 2024-02-27 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

The United States has one of the most expensive childcare systems in the world. The average childcare cost among all 30 countries was less than 15% of a couple's wages. The US spends roughly 0.4% of its GDP on early education and childcare, compared to 0.8% for the average OECD country. In addition to boosting the number of working women, reducing childcare costs could motivate some US couples to have children. A recent study from the Beijing-based Yuwa Population Research found that high childcare costs were among the main reasons for China's low birth rate.

Persons: —, Cindy Lehnhoff Organizations: Service, United, Bank of America, OECD, Business, of America, York Times, National Child Care Association, Research Locations: United States, New Zealand, Germany, Austria, Iceland, Beijing

☆ How Russia has avoided bankrupting itself after 2 years of waging war in Ukraine
▼ + stars: | 2024-02-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +9 min

1: By waging war outside its own bordersOne critical reason Russia's economy is still ticking is because of the location of the war. AdvertisementConsider the impact of the war on the economies of both Russia and Ukraine. In 2022, the first year of the war, Russia's economy contracted 1.2%, according to official statistics. Russia was facing a demographic crisis with a declining population and falling fertility rate even before its war with Ukraine. 4: By stimulating and steadying its economy with subsidies and policiesGovernment subsidies, spending, and policies are also propping up Russia's economy.

Persons: —, Hassan Malik, Loomis Sayles, it's, Malik, Vladimir Putin's, Sergei Guriev, Malik isn't, Alex Isakov, Putin, Alexandra Prokopenko Organizations: Service, Business, Reuters, US, Exchange, European Bank for Reconstruction, Bloomberg Economics, Vienna Institute for International Economic Studies Locations: Russia, Moscow, Boston, Crimea, Ukraine, Russian, China, India, Austrian

☆ Your next Tesla could be made by China
▼ + stars: | 2024-02-14 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Elon Musk invited the suppliers to Mexico as part of plans for cheaper Teslas, Bloomberg reported. That move could be stoking concerns among US officials and EV makers over China's influence. China has a "highly organized, highly efficient supply chain," Venkatesh Prasad, chief innovation officer at the Center for Automotive Research, told Bloomberg. AdvertisementTesla, which also makes cars in the US, and other US-based EV makers may also be feeling the heat from competitors. Mary Lovely, a senior fellow at the Peterson Institute for International Economics, told Bloomberg.

Persons: Elon Musk, —, Tesla's, Venkatesh Prasad, Tesla, stoke, Katherine Tai, Tai, Biden, EVs, China's, Tesla's Musk, Mary Lovely Organizations: Bloomberg, Service, Center for Automotive Research, Business, Trump, Chinese Communist Party, US Trade Rep, Nikkei, EV, Peterson Institute for International Economics Locations: Mexico, Monterrey, Shanghai, Mexican, Nuevo Leon, Austin, China, Beijing, Washington, DC, United States

☆ Beijing refuses to admit its economy has broken down — and that's one reason officials are failing at fixing it, researchers say
▼ + stars: | 2024-02-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's economy has struggled to regain post-pandemic traction. But Beijing hasn't conceded its economy is in trouble, which could be holding it back from fixing structural issues, says the Rhodium Group. Rhodium Group's researchers aren't quite sure about the rosy narrative of China's economy, calling it a "politicized picture of economic activity." After all, China's economy struggled to regain traction after a brief spurt post-pandemic, disappointing investors. By the second half of the year, confidence had broken down entirely," wrote the Rhodium Group researchers.

Persons: underscoring, Beijing hasn't, —, Daniel H, Rosen, Rachel Lietzow, Lietzow, Xi Jinping, haven't Organizations: Stock, Beijing, Service, White, National Economic Council, National Security Council Locations: China, New York, Beijing

☆ India's moment has arrived — but many hurdles remain
▼ + stars: | 2024-02-04 | by ( Spriha Srivastava | Polly Thompson | ) www.businessinsider.com time to read: +8 min

India's economy is expected to expand by 6.5% this year, according to IMF forecasts. The world's most populous nation was keen to talk up its prospects at the World Economic Forum in Davos. Advertisement"India has seized the moment," proclaimed housing minister Hardeep Singh Puri with confidence during a panel at the World Economic Forum in Davos last month. The 10-strong group of emerging market nations now accounts for 45% of the world's population and 28% of global GDP. AdvertisementSome economists have criticized the government's narrative as a "false growth story," highlighting discrepancies in the data and criticizing the methods used to calculate economic growth.

Persons: —, Hardeep Singh, Smriti Irani, BI's Spriha Srivastava, that's, Narendra Modi's, Cash, Modi, SAJJAD HUSSAIN, I've, Andy Baldwin, EY, Narendra Modi, Brazil's Luiz Inácio Lula da Silva, Dan Kitwood, Getty, ISRO Goldman Sachs, Ashoka Mody, Rajesh Kumar Singh, Vladimir Putin, Singh Organizations: Economic, Service, BI, IMF, Business, Apple, ISRO, Princeton University, World Bank, US, of, Hindustan Times, Harvard Business Locations: Davos, India, China, Japan, Brazil, China India, India's, Ukraine

☆ Demand for shipments from China via rail through Russia has 'skyrocketed' since the Red Sea attacks
▼ + stars: | 2024-02-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +6 min

And — while it only represents a very small proportion of containers moved between the Far East and Europe — rail routes via Russia have seen an uptick in interest too. Rail through RussiaFirms have raised concerns about sending goods via rail through Russia, Sciglaite said. A train engine pulls carriages that started their journey in Yiwu, China into Barking rail freight terminal on January 18, 2017 in the U.K. Igor Tambaca, managing director of Rail Bridge Cargo, a Dutch logistics company, said China-Europe rail route bookings were up 37% over the past four weeks. Tambaca said the cost of sending one forty-foot container (FEU) from China to Europe via rail is currently around $7,900.

Persons: Liu Wenhua, Julija, RailGate, Hapag Lloyd, Sciglaite, Dan Kitwood, Igor Tambaca, Tambaca, Maria Magdalena Pavitsich, Pavitsich, Vladimir Putin, Davies Turner Organizations: China News Service, Getty, Air, CNBC, Rail, Cargo, OBB Rail Cargo Group, FEU, Initiative, British Locations: China, Europe, Russia, Manzhouli, Vietnam, Xeneta, East, European, Rotterdam, South Africa's, Ukraine, Yiwu, Barking, Kazakhstan, Belarus, Poland, Germany, Belgium, France, Red, Dutch, Turkey, Austrian, Asia, Xian, Chengdu, Suez, Africa, Moscow, Central Siberia, Beijing, Wuhan, Duisburg

☆ The Federal Reserve is fed up with data revisions
▼ + stars: | 2024-01-31 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +11 min

Federal Reserve Governor Christopher Waller said large revisions in data are tainting his assessments of how the economy is doing. Al Drago/Bloomberg/Getty ImagesThat’s well above the average month-over-month revised change in job totals from 1973 to the latest available revision data, according to the BLS. The official summary of what Fed officials said and discussed during their September meeting — also known as the Fed minutes — stated: “A few participants observed that there were challenges in assessing the state of the economy because some data continued to be volatile and subject to large revisions.”Spokespeople from the Federal Reserve declined to answer which data Fed officials were referring to. Frequent and large revisions to economic data are weighing on Federal Reserve decision-making, Governor Michelle Bowman said. “We want to be data dependent, but not data point dependent,” Williams said.

Persons: Christopher Waller, Waller, it’s, Al Drago, ” Waller, ”, Michelle Bowman, —, Spokespeople, he’s, don’t, Erica Groshen, David Wilcox, Laura Kelter, Kelter, Groshen, Wilcox, John Williams, ” Williams, “ Organizations: New, New York CNN — Federal Reserve, ”, of Labor Statistics, BLS, Federal, Bloomberg, Getty, Fed, Ohio Bankers League, Federal Reserve, Commerce Department, Department, Census, Labor, Peterson Institute for International Economics, Employment, CNN, Wilcox . New York Fed Locations: New York, Wilcox . New

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