Pedro Nicolaci da Costa was a senior correspondent at Business Insider. He wrote commentary and analysis on economics, the Federal Reserve and financial markets, and is based in Washington, DC.
He has been writing about economics and financial markets since 2001, first at Reuters and more recently at The Wall Street Journal. Before joining BI, Pedro was editorial fellow at the Peterson Institute for International Economics.
In 2010, da Costa co-authored "Cozy Ties at Club Fed," a report that prompted the central bank to adopt a more transparent communications policy that includes holding quarterly press conferences. His reporting on the failure of some academic economists to disclose financial industry ties resulted in the American Economic Association's adoption of a new code of conduct.
Gerard Arnaud, French ambassador to the United States, told reporters he is concerned about the possibility of a trade war between the US and Europe over the auto sector.
Look no further than the $15 trillion US government bond market for evidence investors are not convinced the Federal Reserve can keep raising interest rates at the recent clip without derailing the economy, which remains fragile despite strong headline numbers.
The North-America Free Trade Agreement (NAFTA) hangs in the balance following acrimonious negotiations, including leaks of unflattering comments from US President Donald Trump about his Canadian counterparts.
The US and other major economies suffered permanent damage to their growth trajectories following the Great Recession of 2007-2009, according to a paper published by the San Francisco Fed.
2018-08-30T01:26:00Z
Federal Reserve officials have long been baffled by the absence of wage growth for median US workers despite a long-standing economic recovery that has sharply lowered unemployment to 3.9%.
2018-08-28T17:42:40Z
Here’s another reason to urgently reduce humanity’s contribution to an overheating planet: It’s bad for the economy.
A new survey of firms conducted by the Federal Reserve Bank of Atlanta, Stanford University, and the University of Chicago’s Booth School finds about one-fifth of companies are rethinking business spending due to "recently announced tariff hikes or concerns about retaliation."
Powell's Jackson Hole speech Friday morning presents the perfect opportunity for a measured but decisive pushback from the Fed chairman.
ANALYSIS: US-Mexico relations are at their most strained in recent memory — and Mexico's newly elected president could ratchet up the acrimony.
US income inequality, already at its worst levels since the 1920s, is likely to get worse because of President Donald Trump's economic policies, including a tax-cut program that was heavily tilted toward the wealthy.
Global markets have stabilized after initial fears that Turkey's crisis would spread to other emerging economies or even Europe — but that does mean the danger is over.
Turkey's currency crisis has lurched on to the global stage, denting European and US stocks as fears of contagion rise.
Richmond Fed President Thomas Barkin is worried policymakers may lack the tools to deal with the next recession. Looking for ways to strengthen US labor-force participation could create a crucial buffer before the next downturn, he said in a speech Wednesday.
The Trump tax cuts were pitched as a boon to US workers, with X saying that they would lead to wage growth, and that "hardworking Americans" would never keep more of their money.
While the tax cuts have meant that Americans are keeping more of their paychecks, no discernible gains in wages have materialized thus far.
The Federal Reserve is considering a key milestone in its public communication about the path of interest rates. Wall Street economists think a language change is coming that will signal monetary policy is no longer loose, meaning interest rates are no longer seen as particularly low.
Shifts in staffing at the Federal Reserve, in particular a surprise vote to the alternate member Esther George of the Kansas City Fed, make the central bank more likely to keep raising interest rates beyond what markets are expecting.
Federal Reserve Chairman Jerome Powell has argued the narrowing gap between long- and short-term borrowing costs is nothing to worry about. Some of his colleagues, including St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari, disagree.
ANALYSIS: President Donald Trump's unusual public criticism of the Federal Reserve could have unintended consequences.
Former Obama economic adviser Larry Summers says Trump's comments on the Fed are "one more step in what seems like a presidential strategy of turning the United States into a banana republic."
ANALYSIS: Federal Reserve Chairman Jerome Powell downplayed the threat of a trade war to the US economy. He also dismissed a key recession signal emerging from the bond market yield spreads, despite its historical reliability.