Federal Reserve Chairman Jerome Powell, pledging to strike a balance between the risk of an overheating economy and the need to keep growth on track, told U.S. lawmakers on Tuesday that the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending.
American Cruise Lines has announced that construction has begun on the second modern riverboat in the series of five. The second riverboat is the sister-ship to state-of-the-art American Song, the first modern riverboat available in the U.S., which will make its inaugural cruise on the Mississippi River this October.
US billionaire Warren Buffet says his conglomerate has received a profit boost of US$ 29 billion as a result of President Donald Trump's tax reforms, he says. Berkshire Hathaway reported a record quarterly and annual profit on Saturday.
The Organization of American States (OAS) was meeting in Washington on Tuesday from 10:00 AM local time on the subject of Venezuela and “the latest events” that have occurred in the Caribbean country. 19 of the 24 members voted in favor of a resolution calling on Venezuela to postpone the elections scheduled for April.
Mexican buyers imported ten times more corn from Brazil last year amid concern that NAFTA renegotiations could disrupt their U.S. supplies, according to government data and top grains merchants. Mexico is on track to buy more Brazilian corn in 2018, which would hurt a U.S. agricultural sector already struggling with low grains prices and the rising competitive threat from South America.
The U.S. Commerce Department piled on more import duties on biodiesel from Argentina and Indonesia, adding anti-dumping duties of 60.44% to 276.65% to already steep anti-subsidy duties on the fuels.
The US arm of Japanese manufacturer Takata has reached a settlement with 44 US state attorneys-general into claims it concealed dangerous defects in its exploding airbags. The faulty airbags have been linked to at least a dozen deaths and more than 100 injuries worldwide. The settlement includes a civil penalty of about US$650m.
President Donald Trump floated the idea of arming teachers and promised more stringent background checks on gun owners as he hosted an emotional meeting on Wednesday with students who survived last week’s mass shooting at a Florida school.
The U.S. Department of Agriculture sees U.S. corn and soybean exports generally increasing over the coming decade but the U.S. share of global sales will shrink as competition from South American producers heats up, the government said in its annual report.
United States Federal Reserve officials grew more positive on the economic outlook, citing “substantial underlying economic momentum,” and were increasingly optimistic about achieving their inflation target, according to minutes of last month’s policy meeting.