
‘Now is the time to join the United States in moving aggressively,’ the Treasury secretary said.
Own assets at a time of currency erosion, says top economist Daniel Lacalle.
Crude oil’s climb above $100 a barrel has battered the currencies of economies heavily reliant on Gulf energy imports.
Price pressures persist for U.S. firms because of soaring global energy costs.
The national average for a gallon of gas is $4.53.
The two leaders discussed a wide range of issues during the Beijing summit, including economic cooperation, fentanyl, Taiwan, and Iran.
Initial jobless claims continued to hover around historically low levels amid labor market resilience.
Prices of Chinese goods imported into the United States rose by the highest percentage since July 2008.
Consumer spending remained robust, even excluding the pain at the pump.
‘Powell’s legacy will be one of admirable steering of monetary policy during an increasingly shaky time for the U.S.,’ one top economist says.