PUL$E: Top Eight U.S. Economic News Stories

Here's an expanded summary of the top eight U.S. economic news stories from last week, with links to the sources for more detailed information:

Fed's Economic Outlook: Richmond Federal Reserve President Thomas Barkin mentioned progress in controlling inflation with a minimal impact on the job market, suggesting a 'soft landing' is increasingly conceivable.

COSCO's Shipping Suspension to Israel: Chinese shipping firm COSCO has reportedly halted shipping services to Israel, a move with potentially significant trade implications. See Reuters for details.

Global Market Fluctuations: Last week witnessed varied performance in global markets, with notable movements in essential commodities like gold and oil. Refer to Reuters for more information.

Saudi Arabia Cuts Oil Prices: Saudi Arabia reduced the February price of its Arab Light crude to Asian customers to a 27-month low, reflecting competition and concerns about supply overhang—more on this story at Reuters.

Fed's Rate Hike Possibilities: Dallas Federal Reserve President Lorie Logan warned that another rate hike might be necessary to prevent a resurgence in inflation. Read more on Reuters.

US Debt Increase Concerns: The U.S. debt surpassed $34 trillion at the start of 2024, raising alarms about its impact on the economy and the potential surpassing of defense spending in net interest payments. Benzinga provides more insights.

Bitcoin ETF Approval Prospects: U.S. spot bitcoin ETFs could win approval following last-minute application updates, marking a significant development in the cryptocurrency market—more details on Reuters.

US Government Shutdown Concerns: A White House official expressed pessimism about averting a partial government shutdown, highlighting ongoing fiscal challenges. Read the full story on Reuters.

Best,

Samson

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