Home » News » Financial News » International News: U.S. Q4 economic growth forecast from 4.3% to 2.8% – Dec. 2nd, 2022
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International News: U.S. Q4 economic growth forecast from 4.3% to 2.8% – Dec. 2nd, 2022

1. The Atlanta Fed GDPNow model: lowered the U.S. Q4 economic growth forecast from 4.3% to 2.8%.

2. The Mauna Loa volcano in Hawaii, USA continues to erupt, and the lava flow is approaching the road.

3. The U.S. Senate passed a bill to prevent strikes by railroad workers, which will be handed over to Biden for his signature.

4. The U.S. Department of Energy seeks to suspend or postpone the authorization of the sale of strategic oil reserves for the 2024-27 fiscal year as it is trying to replenish war reserves, which may affect 147 million barrels of crude oil.

5. US media: The Biden administration is considering ending its public health emergency declaration on monkeypox.

6. G7 officials said that the Russian oil price ceiling will be adjusted according to a series of factors, including market prices, which may rise or fall.

7. Evans, the big dove of the Federal Reserve, will step down as the chairman of the Chicago Fed in January next year. Former Obama economic adviser Ostan Goolsby will take over and become the FOMC voter.

8. [Fed official speech] Barr: Officials generally believe that the policy is currently in a restrictive range, and it is reasonable to raise interest rates by 50 basis points in December; Williams: The interest rate needs to be sufficiently higher than the inflation level, and the foothold of the interest rate depends on Based on the data; Bowman: As interest rates reach a sufficiently restricted range, it is reasonable to slow down the pace of interest rate hikes, and the terminal interest rate will be higher than expected in September.

9. [Data] 10Y U.S. bonds are approaching to fall below 3.5%; the core PCE price index in the U.S. recorded a monthly rate of 0.2% in October, the smallest increase since July; the unemployment rate in the euro zone recorded 6.5% in October, a record low; The panic index VIX fell below 20 for the first time since August; spot gold stood above $1,800 for the first time since August.

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