County Yell Financial News

A summer in which inflation trended lower, jobs remained plentiful and consumers kept spending has bolstered confidence — not least at the Federal Reserve — that the world’s biggest economy will avoid recession. A last-minute deal to avoid a government shutdown kicks one immediate risk a little further into the future. But a major auto strike, the resumption of student-loan repayments, and a shutdown that may yet come back after the stop-gap spending deal lapses, could easily shave a percentage point off GDP growth in the fourth quarter. Add those shocks to other powerful forces at work on the economy — from dwindling pandemic savings to soaring interest rates and now oil prices too — and the combined impact could be enough to tip the US into a downturn as early as this year. Here are six reasons why a recession remains Bloomberg Economics’ base case.

FOX News senior congressional correspondent Chad Pegram reports on Congress’ efforts to avoid a government shutdown.

Tens of thousands of people in New York City have kicked off a week of demonstrations seeking to end the use of coal, oil and natural gas blamed for climate change

Tens of thousands of people in New York City have kicked off a week of demonstrations seeking to end the use of coal, oil and natural gas blamed for climate change

G20 Summit in New Delhi, US President Joe Biden will commence his one-day visit to Vietnam on September 10. He will travel to Hanoi, the Vietnamese capital, to meet with General Secretary Nguyen Phu Trong and other leaders.

Commerce Secretary Gina Raimondo says she and her Chinese counterpart agreed to exchange information on U.S. export controls that irk Beijing and set up a group to discuss other commercial issues

Piper Sandler chief global economist Nancy Lazar details her economic expectations for the second half of the fiscal year on ‘Mornings with Maria.’ 

Janet Yellen said China’s economic slowdown risks causing ripple effects across the global economy, though she doesn’t expect a recession in the US. “Many countries do depend on strong Chinese growth to promote growth in their own economies, particularly countries in Asia — and slow growth in China can have some negative spillovers for the United States,” Yellen said in a Bloomberg Television interview Monday hours after a raft of Chinese economic data came in weaker than expected. In the US, “growth has slowed, but our labor market continues to be quite strong — I don’t expect a recession,” Yellen said.

GANDHINAGAR : The US and its allies are building on actions to crack down on efforts by Russia to evade sanctions, US treasury secretary Janet Yellen said on Sunday. "One of our core goals this year is to combat Russia’s efforts to evade our sanctions. Our coalition is building on the actions we have taken in recent months to crack down on these efforts," Yellen said during a press conference at the sidelines of the third G20 Finance and Central Bank Deputies (FCBD) meeting.

Janet Yellen said on Sunday she was «eager» to work with China on areas of mutual interest, including debt restructurings for poorer countries, and that multilateral development banks needed reforms before capital increases could be considered. In remarks prepared for a press conference before a meeting of Group of 20 finance ministers and central bankers in India, Yellen said her visit to Beijing last week helped put the U.S.-China relationship on «surer footing» and that the world's two biggest economies had an obligation to the world «to cooperate on areas of mutual concern».

By David Lawder and Aftab Ahmed

Janet Yellen is traveling to India and Vietnam next week, seeking to strengthen ties with two increasingly important US partners and shore up economic resilience through diversified supply chains. Yellen will first head to Gandhinagar, India, for a meeting of Group of 20 finance and central bank heads, where she will push for reforming global lending institutions to boost the size and scope of their firepower and for advancing talks on easing the debt burden for poorer nations, a senior Treasury official said.

Treasury Secretary Janet Yellen is visiting two of China’s neighbors where she has pushed firms to move their operations—just a week after she reassured officials in Beijing that the U.S. wasn’t out to sever trade and investment ties. The trip to India and Vietnam underlines a central tension in the U.S.-China economic relationship: Yellen and the Biden administration must figure out how to promote alternatives to China without further upsetting relations with Beijing.

Fox News senior strategic analyst Gen. Jack Keane (ret.) discusses Biden's comment on the U.S. military's ammunition and China's rising aggression. 

By Andrea Shalal

China, as the world's two largest economies, must work together to combat the «existential threat» of climate change, U.S. Treasury Secretary Janet Yellen told Chinese government officials and climate experts on Saturday.

Janet Yellen on Friday criticized the Chinese government's harsh treatment of companies with foreign ties and its recent decision to impose export controls on certain critical minerals, suggesting that such actions justify the Biden administration's efforts to make U.S. manufacturers less reliant on China. Yellen delivered the forceful defense of American industry on her first day of meetings in Beijing during a high-stakes trip to ease tension between the United States and China.

U.S. markets are quiet ahead of the critical U.S. June jobs report with Treasury Secretary Janet Yellen in Beijing attempting to ease tensions between the world’s two largest economies

Treasury Secretary Janet Yellen landed in Beijing Thursday on a four-day trip aimed at finding common ground as rivalry between the U.S. and China becomes increasingly adversarial.

By Andrea Shalal and Yew Lun Tian

Gold prices were flat in early Asian trade on Thursday as investors digested minutes from the Federal Reserve's latest meeting, while positioning for a raft of economic data that could influence the U.S. central bank's policy trajectory. FUNDAMENTALS * Spot gold was unchanged at $1,917.09 per ounce by 0022 GMT.