A prediction made 31 years ago by the Chinese economist Justin Lin Yifu which claimed that China’s economy will surpass that of the U.S., is about to materialize over the next five to 10 years, he said. What Happened: Former chief economist and senior vice-president at World Bank, Lin Yifu’s 1994 prediction was reaffirmed by him while speaking at the...

Producer prices rose less than anticipated in December, offering a potential reprieve for the Federal Reserve as it aims to bring inflation under control without derailing economic growth. The data, released by the Bureau of Labor Statistics on Tuesday, showed the Producer Price Index rising 3.3% year-over-year, up from November's 3% but below forecasts of a 3.4% increase. On a...

WASHINGTON (Reuters) - U.S. producer prices increased moderately in December, but that is unlikely to change views that the Federal Reserve would not cut interest rates again before the second half of this year amid labor market resilience. The producer price index for final demand rose 0.2% last month after an unrevised 0.4% advance in November, the Labor Department's Bureau...

07:34 AM EST, 01/14/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday, except for an increase versus the yen, before a busy day of economic data releases and appearances by Federal Reserve officials. Producer price data for December are due to be released at 8:30 am ET, at the same time as annual revisions...