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☆ China's Wang Yi Held 'Constructive' Talks With Blinken in Munich - Chinese Foreign Ministry
▼ + stars: | 2024-02-16 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - China's Foreign Minister Wang Yi discussed lifting sanctions against Chinese companies and individuals in a meeting with U.S. Secretary of State Antony Blinken at the Munich Security Conference, the Chinese foreign ministry said on Saturday. Both sides also discussed facilitating people-to-people exchanges in the meeting held on Friday, the ministry said, adding the exchanges between the two were "frank, substantial and constructive". "Making 'de-risking' into 'de-China', and building 'small yards and high walls' and seeking 'decoupling from China'" will only backfire on the U.S. itself, Wang said, according to a statement from the foreign ministry. Both sides also exchanged views on regional issues including the Ukraine crisis and the Korean Peninsula, the statement said, without giving further details. China and the U.S. have made some progress in bilateral relations since Chinese President Xi Jinping held talks with President Joe Biden in November, where they reached agreements covering fentanyl, military communications and artificial intelligence on the sidelines of the Asia-Pacific Economic Cooperation summit.

Persons: Wang Yi, Antony Blinken, Wang, Xi Jinping, Joe Biden, Albee Zhang, Ryan Woo, Raju Gopalakrishnan Organizations: China's, U.S, Munich Security Conference, Economic Cooperation, Treasury Locations: BEIJING, de, China, U.S, Ukraine, Asia, Beijing

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season. The average rate on a 30-year mortgage rose to 6.77% from 6.64% last week, mortgage buyer Freddie Mac said Thursday. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose this week, pushing the average rate to 6.12% from 5.90% last week. The average rate on a 30-year mortgage remains sharply higher than just two years ago, when it was 3.92%. The cost of financing a home has come down from its most recent peak in late October, when the average rate on a 30-year mortgage hit 7.79%, the highest level since late 2000.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s Organizations: ANGELES, Treasury, Federal Reserve, U.S Locations: U.S

BANGKOK (AP) — Shares rose in Asia on Thursday after Wall Street stocks recovered much of their sharp losses from a day before. On Wednesday, the S&P 500 climbed 1% to 5,000.62, clawing back more than two-thirds of its loss from Tuesday. It was the single strongest force lifting the S&P 500 index. Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.

Persons: Australia's, Taiwan’s Taiex, India's Sensex, Russell, Lyft, Airbnb Organizations: Wall, Bank of Japan, Nikkei, Reserve, Dow Jones Industrial, Nasdaq, Treasury, Nvidia, Technologies, Akamai Technologies, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Seoul, Japan, Britain, China, Germany, Hong Kong, Bangkok, Italy, U.S

☆ 10-year Treasury yield falls as investors assess path ahead for inflation, interest rates
▼ + stars: | 2024-02-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was over three basis points lower to 4.228%. The 2-year Treasury yield was last down by around one basis point to 4.5676%. U.S. Treasury yields declined on Thursday as investors considered what could be next for inflation and interest rates and looked to comments from U.S. Federal Reserve speakers and economic data. Investors weighed the outlook for inflation and interest rates after the latest consumer price index — which was released Tuesday — showed that prices rose by more than expected in January. Elsewhere, data showed that the U.K. economy contracted by 0.3% in the fourth quarter of 2023, pushing the country into a technical recession.

Persons: —, Austan Goolsbee Organizations: Treasury, U.S, U.S . Federal Reserve, Investors, Chicago Fed, Council, Foreign Relations Locations: U.S

☆ Dollar reigns supreme as hot CPI cools bets for Fed cuts
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. The dollar traded near three-month highs to major peers on Wednesday as traders pushed back bets for a first Federal Reserve interest rate cut following surprisingly hot U.S. inflation figures overnight. The dollar has added about 10 yen in price since the start of this year. The euro was steady at $1.0710, after dipping to a three-month low of $1.07005 overnight. The Australian dollar languished near a three-month low of $0.6443 reached overnight, last trading at $0.64545.

Persons: James Kniveton, Kazuo Ueda, Kniveton, Masato Kanda, cryptocurrency bitcoin, bitcoin, Craig Erlam Organizations: Fed, Traders, Bank of Japan, Treasury, Bank of England, Australian, U.S, CPI, OANDA Locations: U.S

☆ US, EU Discuss Russia Sanctions Ahead of Ukraine War's Second Anniversary
▼ + stars: | 2024-02-14 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +5 min

"Many of us are prepared to roll out quite robust anniversary packages," the official told Reuters, but declined to provide details. The new sanctions would come as the U.S. and its allies look to maintain pressure on Russia with U.S. military aid to Ukraine increasingly in doubt. "All delegations expressed their support to the proposed package, except one who requested a bit more time to analyze the content of the proposals," said an EU official, pointing to Hungary. The official said, however, the new EU sanctions would blacklist almost 200 people and entities. "The Russia sanctions program is both an extraordinary success and an extraordinary failure, depending upon one's point of view," said Smith.

Persons: Daphne Psaledakis, Gabriela Baczynska WASHINGTON, Joe Biden's, John Smith, Smith, Gabriela Baczynska, Don Durfee Organizations: Reuters, Kyiv, Republican, Representatives, Washington, EU, Wednesday, Russia, U.S . Treasury Department’s, Foreign Assets Control Locations: BRUSSELS, U.S, Russia, Brussels, Ukraine, Washington, EU, Hungary, Moscow, Lincoln

☆ Terrorists Are Paying for Check Marks on X, Report Says
▼ + stars: | 2024-02-14 | by ( Kate Conger | ) www.nytimes.com time to read: +1 min

X, the social media platform owned by Elon Musk, is potentially violating U.S. sanctions by accepting payments for subscription accounts from terrorist organizations and other groups barred from doing business in the country, according to a new report. The report, by the Tech Transparency Project, a nonprofit focused on accountability for large technology companies, shows that X, formerly known as Twitter, has taken payments from accounts that include Hezbollah leaders, Houthi groups, and state-run media outlets in Iran and Russia. The subscriptions, which cost $8 a month, offer users a blue check mark — once limited to verified users like celebrities — and better promotion by X’s algorithm, among other perks. “We were surprised to find that X was providing premium services to a wide range of groups the U.S. has sanctioned for terrorism and other activities that harm its national security,” said Katie Paul, the director of the Tech Transparency Project. “It’s yet another sign that X has lost control of its platform.”

Persons: Elon Musk, —, ”, Katie Paul, “ Organizations: Elon, Tech, U.S . Treasury Department, . Locations: Iran, Russia, U.S

☆ Treasury yields fall as investors weigh inflation outlook
▼ + stars: | 2024-02-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was over two basis points lower to 4.2946% after climbing by as many as 15 basis points on Tuesday. The 2-year Treasury yield was last down by around five basis points to 4.6054%. On Tuesday, it rose by as many as 19 basis points. U.S. Treasury yields eased on Wednesday as investors digested the latest inflation data and considered what it could mean for interest rates. Treasury yields had soared on Tuesday after January's consumer price index reading came in hotter than expected.

Persons: Dow Jones Organizations: Treasury, U.S, . Federal Reserve

☆ Bitcoin falls from $50,000 following hotter-than-expected inflation data
▼ + stars: | 2024-02-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

An image of bitcoin and U.S. currencies is displayed on a screen during the Interpol World Congress in Singapore on July 4, 2017. Cryptocurrencies fell Tuesday amid a broader market sell-off following a hotter-than-expected CPI reading. The day before, it punched through the $50,000 mark to its highest level in more than two years. "However, investors should expect longer term weakness if inflation continues to run hotter than expected, which tends to run counter to the dominant belief that bitcoin is an inflation hedge." He also said he believes bitcoin is not an inflation hedge but rather a gauge on liquidity within the financial system.

Persons: Cryptocurrencies, Bitcoin, Dow Jones, Nico Cordeiro, bitcoin Organizations: Interpol, Metrics, U.S . Bureau of Labor Statistics, Treasury, Reserve Locations: Singapore

☆ Why Tuesday's pullback is a healthy break in the rally and how we are playing it
▼ + stars: | 2024-02-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. A healthy break: Stocks are down after the consumer price index came in slightly hot, leading to a delay in interest rate cut expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, we'll, it's, Eli Lilly, Cramer, Bob Iger's, Stanley Black, Decker, Martin, Jim Cramer's, Jim, NVIDIA Jensen Huang, Michael M Organizations: CNBC, Nvidia, U.S, Treasury, Utilities, Disney, MGM Resorts, Martin Marietta Materials, CME Group, Barrick Gold, Jim Cramer's Charitable, NVIDIA, New York Times, Santiago, Getty Locations: We're, Philadelphia, Robinhood, New York City

The 2-year Treasury yield nearly three basis points lower at 4.47%. U.S. Treasury yields were slightly lower Monday as investors looked ahead to key economic data and fresh comments from Federal Reserve officials that could provide hints about the interest rate outlook. January's consumer price index is due Tuesday, before the producer price index, retail sales figures and further data points which are slated for later in the week. Investors are hoping that the data will suggest that the Fed could begin cutting rates sooner rather than later. On Friday, the Labor Department's Bureau of Labor Statistics revised December's consumer price index lower, saying it had risen by 0.2% that month.

Persons: Jerome Powell Organizations: Treasury, U.S, Federal Reserve, Investors, Fed, Labor Department's Bureau of Labor Statistics

☆ The US, China, and Europe's economies are drifting apart. The global 'decoupling' is moving markets.
▼ + stars: | 2024-02-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Read previewThe biggest players in the global economy are on different trajectories, and markets around the world are reflecting the shifting landscape. "Signs of decoupling are present in global growth, trade, and equity markets," Bank of America strategists wrote in a Friday note. AdvertisementTo that point, the outlook for the Euro area looks softer. BofA expects Euro area growth at 0.4% in 2024 and 1.1% in 2025. Growth forecasts for US, Euro Area, and China.

Persons: —, Janet Yellen, BofA, SPX Organizations: Service, Bank, Business, Bank of America, Wall, Federal Reserve, ECB, Bank of America Global Locations: China, There's, Germany, Spain, Europe

☆ Treasury yields hold steady as investors weigh economic data, Fed rate outlook
▼ + stars: | 2024-02-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was flat at 4.1715% and the yield on the 2-year Treasury was steady at 4.4651%. U.S. Treasury yields were little changed on Friday as investors weighed fresh economic data and considered the path ahead for interest rate cuts by the Federal Reserve. Investors looked to the latest economic releases for hints about the state of the economy and the potential path ahead for interest rates. It comes amid rife speculation over the timeline of interest rate cuts, with Fed officials appearing cautious and dashing investor hopes of a reduction as early as March. No key economic data is due Friday, however investors are looking ahead to major data releases slated for next week including January's consumer price index.

Persons: Neel Kashkari Organizations: Treasury, U.S, Federal Reserve, Dow, Fed, Minneapolis

☆ The S&P 500 will try to maintain its momentum next week after breaching 5,000, with key inflation data, earnings on deck
▼ + stars: | 2024-02-09 | by ( Sarah Min | ) www.cnbc.com time to read: +9 min

The S & P 500 broke past 5,000 for the first time ever this week, but investors will see if the momentum can stick in the week ahead with more inflation data and earnings results on deck. On Friday, both the S & P 500 and the Nasdaq Composite were headed for their fifth straight week of gains, and their 14th winning week in 15. FactSet data shows S & P 500 earnings are tracking to have risen 2.8% in the fourth quarter, which would be a second straight quarter of earnings growth, and some expect that positive momentum will remain intact in the weeks ahead. A cooler-than-expected print has the potential to be greeted with enthusiasm, sending the S & P 500 even higher. The S & P 500 is up by 5% this year, with Nvidia higher by more than 40%.

Persons: Jeremy Siegel, CNBC's, Siegel, Karim El Nokali, we've, Tony Welch, Dow, SignatureFD's Welch, there's, Welch, Russell, Jason Hunter, that's, Hunter, Matt Kishlansky, Biogen, Kraft Heinz, Generac Organizations: Treasury, Wharton Business, Nasdaq, Arista Networks, Marriott International, Occidental Petroleum, Deere, Applied Materials, Dow Jones, Wall, Nvidia, Arm Holdings, JPMorgan, New York Community Bancorp, Federal Reserve, Treasury Budget, Waste, CPI, MGM Resorts International, Akamai Technologies, Howmet Aerospace, Molson Coors Beverage, Hasbro, Price, Index, Philadelphia Fed, Retail, Manufacturing, Housing, PPI Locations: SignatureFD, U.S, Long, GenTrust, Albemarle, NAHB, Michigan

☆ US Imposes Sanctions for Violations of Russia Oil Price Cap
▼ + stars: | 2024-02-08 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - The U.S. Treasury Department said on Thursday it had put sanctions on three entities based in the United Arab Emirates (UAE) and one registered in Liberia for violating a cap placed on the price of Russian oil by a coalition of Western nations. The Treasury also said it had taken steps to bar the import of certain categories of diamonds mined in Russia, another step designed to deprive Moscow of foreign revenues following the 2022 invasion of Ukraine. In a statement, the Treasury Department said it had imposed sanctions on three UAE-based entities - Zeenit Supply and Trading DMCC, Talassa Shipping DMCC and Oil Tankers SCF Mgmt FZCO - as well as on Liberia-registered NS Leader Shipping Incorporated. The price cap imposed by the Group of Seven countries, the European Union and Australia bans the use of Western maritime services such as insurance, flagging and transportation when tankers carry Russian oil priced at or above $60 a barrel. War in Israel and Gaza View All 194 Images(Reporting by Daphne Psaledakis, Ismail Shakil and Arshad Mohammed; editing by David Ljunggren)

Persons: Daphne Psaledakis, Ismail Shakil, Arshad Mohammed, David Ljunggren Organizations: WASHINGTON, U.S . Treasury, United Arab Emirates, Treasury, Treasury Department, Talassa Shipping, Oil, Mgmt, NS, Shipping Incorporated, Group, European Union Locations: UAE, Liberia, Western, Russia, Moscow, Ukraine, Australia, Israel, Gaza

☆ Treasury yields hold steady as investors weigh comments from Fed officials
▼ + stars: | 2024-02-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was up by just over one basis point to 4.1095%. The 2-year Treasury yield was last down by less than one basis point at 4.4185%. U.S. Treasury yields were little changed on Thursday as investors considered remarks from Federal Reserve officials about the path ahead for interest rate cuts. On Wednesday, Minneapolis Federal Reserve President Neel Kashkari told CNBC's "Squawk Box" that he believes two or three rate cuts would take place in 2024. The comments echoed those made by Fed Chairman Jerome Powell last week and stoked concerns among investors that fewer rate cuts than they have been expecting could be implemented.

Persons: Neel Kashkari, CNBC's, Jerome Powell, Adriana Kugler, Powell Organizations: U.S, Treasury, Federal Reserve, Minneapolis Federal, Fed

BANGKOK (AP) — Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies, as trade and tariffs increasingly draw attention in the runup to the U.S. presidential election. The talks sent a “positive signal,” the Global Times, a newspaper of China’s ruling Communist Party, said in an article published late Tuesday. The two sides said the talks in Beijing also touched on issues such as debt problems in developing countries, financial cooperation and economic policies. The Economic Working Group's meeting was its third since it was established in September and its first in Beijing. A Treasury delegation met with Chinese Vice Premier He Lifeng while in Beijing and conveyed a message that Yellen hoped to visit China at an “appropriate time.”

Persons: Joe Biden, Xi Jinping, Biden, Donald Trump, Yellen, ” Organizations: U.S, China’s Ministry of Finance, Global Times, Communist Party, U.S . Treasury Department, International Energy Agency, Treasury Department, Trump, Treasury Locations: BANGKOK, Beijing, U.S, China, Europe, San Francisco , California, Taiwan

☆ Treasury yields little changed as investors fret over monetary policy outlook
▼ + stars: | 2024-02-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by less than one basis point to 4.0999%. The 2-year Treasury yield was last at 4.4058% after falling by less than one basis point. U.S. Treasury yields held steady on Wednesday as investors considered what could be ahead for monetary policy, especially when interest rates may be cut. Uncertainty about the outlook for monetary policy has been widespread, prompting investors to assess the potential timetable for interest rate cuts. He also indicated that central bank policymakers were looking for further evidence from data that the economy is easing, and would be cautious when it comes to making decisions around interest rates.

Persons: Jerome Powell, Powell Organizations: Treasury, Federal Locations: U.S

☆ Dollar on defensive after pullback from nearly 3-month peak
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: +2 min

The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the euro in the previous session with a decline in U.S. bond yields adding to the drag. The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the euro in the previous session with a decline in U.S. bond yields adding to the drag. U.S. Treasury yields also turned down from highs overnight on solid demand at a sale of new three-year notes, removing some support for the dollar. The U.S. dollar index , which measures the currency against six major peers, including the euro, was flat at 104.14, following Tuesday's 0.29% slide. The currency pair tends to be extremely sensitive to moves in Treasury yields.

Persons: Jerome Powell scuppered, Matt Simpson, James Kniveton Organizations: Federal, Treasury, U.S, CPI, Federal Reserve Locations: U.S, Asia

☆ US Faces Heightened Risk From Russia, North Korea, Treasury Financing Report Finds
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - The United States faces heightened risk from Russia, which is trying to acquire goods with military applications, the U.S. Treasury Department said in fresh National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing released on Wednesday. The United States also faces heightened risk from North Korea, the Treasury Department said, as networks linked to Pyongyang increasingly exploit the digital economy, including through hacking virtual asset service providers. The report includes ways Hamas exploits the international financial system, including through solicitation of funds from witting and unwitting donors, the Treasury Department said. The United States has sought to cut off funding for the group after its deadly attack on Israel in October. The proliferation of domestic violent extremist movements also pose more threats to the United States, the department said.

Persons: Brian Nelson, Daphne Psaledakis, Gerry Doyle Organizations: WASHINGTON, U.S . Treasury Department, United, Treasury Department, Terrorism, Financial Locations: United States, Russia, Ukraine, North Korea, Pyongyang, Israel

☆ China expresses concerns to U.S. over tariffs, sanctions in Beijing talks
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: +1 min

China's financial officials expressed concerns to visiting U.S. Treasury officials about U.S. tariffs, investment restrictions and sanctions set up to "suppress" Chinese companies, the Chinese finance ministry said on Tuesday. China's financial officials expressed concerns to visiting U.S. Treasury officials about U.S. tariffs, investment restrictions and sanctions set up to "suppress" Chinese companies, the Chinese finance ministry said on Tuesday. Both sides had "in-depth, frank, pragmatic and constructive" exchanges on their macroeconomic situation and policy, and developing countries' debt, among other issues in the meetings this week in Beijing, the ministry said. They agreed to continue to maintain communications, it added. In a separate meeting, China's vice premier He Lifeng also met with U.S. Treasury Undersecretary for International Affairs Jay Shambaugh on Tuesday, China's official Xinhua news agency reported.

Persons: Lifeng, International Affairs Jay Shambaugh Organizations: U.S, Treasury, International Affairs, China's, Xinhua Locations: Beijing

☆ U.S. Treasury team heads to China to talk subsidies, economic policies
▼ + stars: | 2024-02-06 | by ( ) www.cnbc.com time to read: +1 min

The Biden administration has sent five senior U.S. Treasury officials to Beijing this week for economic talks that will include China's "non-market" policies that are adding excess industrial capacity, a Treasury official said on Monday. The Biden administration has sent five senior U.S. Treasury officials to Beijing this week for economic talks that will include China's "non-market" policies that are adding excess industrial capacity, a Treasury official said on Monday. Affected industries include electric vehicles, a sector whose development in the United States the Biden administration is trying to boost with its own tax subsidies. The group will discuss the U.S. and Chinese economic outlooks, investment screening regimes for national security in both countries, and opportunities to cooperate on climate change and debt relief to poor countries, the Treasury official said. The emphasis on China's industrial subsidies comes as the Biden administration is continuing a review of U.S. tariffs imposed on hundreds of billions of dollars worth of Chinese imports by former President Donald Trump.

Persons: Biden, International Affairs Jay Shambaugh, Donald Trump Organizations: U.S, Treasury, International Affairs, China Economic, Group Locations: Beijing, U.S, China, United States

☆ Treasury yields dip as uncertainty over rate cut outlook persists
▼ + stars: | 2024-02-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last over two basis points lower to 4.4494%. U.S. Treasury yields fell on Tuesday as questions over the path ahead for interest rate cuts lingered and investors considered the likelihood of rate cuts not taking place until later than expected. Investors have been fretting over the timeline for interest rate cuts from the Federal Reserve. Some traders had been hoping for rate cuts as soon as March, but recent comments from Fed Chair Jerome Powell dampened these expectations. Markets were last pricing in just a 16.5% chance of a rate cut taking place then, according to CME Group's FedWatch tool.

Persons: Jerome Powell, Powell Organizations: Treasury, U.S, Investors, Federal Reserve, Fed

☆ Treasury yields climb as investors consider interest rate outlook
▼ + stars: | 2024-02-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were higher on Monday as investors weighed the path ahead for interest rates following comments from Federal Reserve Chair Jerome Powell. Investors considered the outlook for interest rates and awaited the fresh data that could provide hints about the state of the economy. Powell told CBS on Sunday that the central bank would be careful when it comes to interest rate cuts and that policymakers were still looking for additional evidence of inflation returning to the Fed's 2% target range. Powell also indicated that the pace of rate cuts would likely be slower than markets are expecting, and reiterated comments he made after the Fed's meeting last week saying that rate cuts are unlikely to begin in March. At its meeting last week, the Fed kept interest rates unchanged for the fourth time in a row, but indicated that rate cuts would likely start this year.

Persons: Jerome Powell, Powell, Nonfarm, Dow Jones Organizations: Treasury, U.S, Federal, Investors, CBS, Fed

☆ Top U.S. Treasury Officials to Visit Beijing for Economic Talks
▼ + stars: | 2024-02-05 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

The Biden administration is dispatching a high-level delegation of Treasury Department officials to Beijing this week for a round of economic talks as the world’s largest economies look to continue engagement efforts that President Biden and his Chinese counterpart, Xi Jinping, agreed to pursue last year. A Treasury official, speaking on the condition of anonymity because the trip has not been publicly announced, said that the two days of meetings would include “frank conversations” about China’s use of nonmarket economic practices like government subsidies. The U.S. officials also plan to discuss concerns about industrial overcapacity, which could flood international markets with cheap products. More broadly, the two governments will discuss the macroeconomic outlooks for their countries, whose economies are critical to the health of the overall global economy. The United States is proving to be the most resilient economy in the world.

Persons: Biden, Xi Jinping Organizations: Treasury Department, Treasury, U.S Locations: Beijing, China, United States

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