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Real-time News
U.S. Treasury Department: Issues general license to Venezuela.September 3rd - The Federal Reserves Beige Book showed that U.S. economic activity has grown moderately since early July. Of the 12 Fed districts, 10 recorded slight to moderate growth, while 2 remained unchanged. Consumer spending increased slightly, but consumer price sensitivity increased, with high-end consumption remaining strong; auto sales were sluggish due to weak confidence, high oil prices, and rising financing costs. Manufacturing activity rebounded in most districts, with some reporting strong demand for defense and data center-related orders. The job market grew more slowly, with only a slight overall increase. Labor demand was relatively good in manufacturing and construction, but demand declined in retail and hospitality. On the price front, most districts reported moderate price increases, with cost pressures from energy, transportation, raw materials, and tariffs persisting. Businesses expect a generally positive economic outlook but remain concerned about uncertainties surrounding energy prices, policy, and international conflicts.The Federal Reserves Beige Book: Overall employment rose slightly, with small increases in three districts, slight increases in four districts, and no change in five districts.The Federal Reserves Beige Book: The overall outlook for the coming months is positive, but sentiment is mixed across sectors, with respondents reporting greater uncertainty about the impact of rising energy prices.On September 3, Venezuelan Acting President Delcy Rodríguez met with U.S. Energy Secretary Wright on September 2. Following the meeting, the two countries formally signed several cooperation agreements. It is understood that the Venezuelan government signed agreements with several companies, including Chevron, regarding oil expansion projects. Recently, U.S. President Trump announced on social media that the U.S. had reached an agreement with Venezuela, gaining "majority control" over Venezuelas proven oil reserves of over 65 billion barrels. Venezuelan Acting President Delcy Rodríguez stated that the oil cooperation agreement with the U.S. will last for 25 years, with the goal of increasing crude oil production to 1.5 million barrels per day and maintaining Venezuelas autonomy over its natural resources.
