Sales at U.S. retailers unexpectedly advanced in April, helping ease concern of a sustained pullback in consumer spending that would stifle the economy.
Americans bought existing homes at the fastest pace in three years in February as borrowing costs near record lows spurred a housing revival that’s forecast to boost economic growth this year.
Efforts by Brazil to tame inflation are providing foreign-exchange traders with the biggest returns in the world by purchasing reais with funds borrowed in dollars.
U.S. growth may be hurt by a weak currency and higher taxes, said Steve Forbes , chief executive officer of Forbes Inc.
Treasury 30-year bonds fell for a third day on speculation the Federal Reserve will buy shorter- maturity debt and as the government prepared to sell $13 billion of the securities this week.
The Federal Reserve said the labor market improved throughout the country early this year, driven by rising retail sales and “solid growth” in manufacturing.
The Federal Reserve said some officials last month wanted to keep further asset purchases as an option to boost the economy as policy makers saw “considerable uncertainty” that U.S. growth will pick up.
Warnings that the Federal Reserve’s renewed round of asset purchases would devalue the dollar are “misplaced,” according to Michael Moran , chief economist at Daiwa Capital Markets America Inc.
The cost of living in the U.S. probably was little changed in June, a sign inflation may stay subdued as Federal Reserve officials have predicted, economists said before a report today.
Payrolls probably rose at a slower pace in August, keeping unemployment in the U.S. above 8 percent for a 43rd month, economists said before a report today.
"Consumers are staying active and providing support to the economy."
- Michael Moran on May 13, 2013
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