The U.S. economy ended 2024 with a slight to moderate increase in activity and a tick upward in employment, the Federal Reserve said on Wednesday, but businesses flagged a range of concerns about the potential for policies under President-elect Donald Trump to push prices higher.
U.S. Treasury Secretary Janet Yellen said on Wednesday U.S. President-elect Donald Trump's plan to set up a new government agency to collect tariffs would duplicate an existing agency and was unlikely to save money.
Oil prices rose in Asian trade on Thursday after hitting multi-month peaks in the previous session, driven by a combination of softer U.S. inflation data, new sanctions on Russian oil, and significant drawdowns in U.S. crude inventories.
The dollar slipped on Thursday to stand just off recent peaks as cooling U.S. inflation data knocked down bond yields, while the yen hit a one-month high on rising bets on a rate hike in Japan.
Japan's service-sector sentiment improved in December but companies expect conditions to sour ahead, a government survey showed on Tuesday, a sign the rising cost of living was weighing on household spending.
China's economic growth is likely to slow to 4.5% in 2025 and cool further to 4.2% in 2026, a Reuters poll showed, with policymakers poised to roll out fresh stimulus measures to soften the blow from impending U.S. tariff hikes.