U.S. economic activity was little changed over the last month and a half, as labor market tightness continued to ease and prices continued to increase at a modest pace, according to a Federal Reserve report published on Wednesday.
American families on average saw large gains in income and wealth from 2019 to 2022 and households became less fragile during a period marked by the severe disruptions of the COVID-19 pandemic and massive subsequent government spending, a Federal Reserve survey published Wednesday showed.
Asian shares slid on Thursday as risk aversion prevailed in the market due to mounting worries over Middle East tensions, while gold prices stayed near two-month peaks with investors seeking safer assets.
Oil prices fell in Asian trade on Thursday after a strong run of gains this week as markets awaited more developments in the Israel-Hamas war, while upcoming signals from the Federal Reserve were also in focus.
The dollar held the yen near a two-week low, as growing expectations the U.S. Federal Reserve will keep rates higher for longer had the greenback and U.S. Treasury yields on the rise overnight and markets awaited a speech by Fed Chair Powell.
