Americans see flat inflation, more spending: NY Fed survey
Nov 13, 2018
NEW YORK (Reuters) - U.S. inflation expectations were unchanged in October from a month ago, even while Americans expected to spend and earn more, according to a Federal Reserve Bank of New York survey published on Tuesday.
The survey of consumer expectations, one of the Fed's price gauges, showed median one- and three-year ahead inflation expectations were steady at 3 percent in October, and largely unchanged since April.
Median expected household spending growth jumped last month to 3.7 percent, from 2.9 percent in September, its highest level since late 2016. Income growth also rose according to respondents representing a broad array of income and age groups, to 2.9 percent in October from 2.5 percent a month earlier.
The U.S. central bank is expected to raise interest rates again in December as part of a gradual policy tightening meant to head off any rise in inflation above target.
EU working at all levels to avoid escalating trade tensions with U.S.: Juncker
Nov 12, 2018
BERLIN (Reuters) - The European Union is negotiating with White House officials at all levels to avoid an escalation of trade tensions with the United States, European Commission President Jean-Claude Juncker said on Monday.
"We are working at all levels with the White House," Juncker told a conference hosted by the Sueddeutsche Zeitung, adding that he would meet U.S. President Donald Trump at a meeting of the G20 economic powers in Buenos Aires at the end of November.
China will step up tax cuts: finance minister
Nov 11, 2018
BEIJING (Reuters) - China will study and implement tax cuts of a larger scale and more significant fee reductions for companies, the country's finance minister Liu Kun said on Monday.
This year, China has lowered tax burdens for exporters and cut import tariffs for machinery and raw materials, Liu said in a statement on the ministry's website.