The Federal Reserve boosted the interest rate by 0.25 percentage points on Wednesday, signaling that it may delay further hikes to give officials time to assess the influence of recent bank failures and await and monitor the resolution of the US debt political impasse inflation. A unanimous decision raised the US Federal Reserve’s interest …
Federal Reserve Interest Rate Boosts and Its Effect Read More »
On Tuesday, oil prices fell to their lowest level since late March. According to the disappointing Chinese economic data, predictions of interest rates rose significantly. The US Federal Reserve and the European Central Bank (ECB) expressed concerns about sufficient supply this week. Brent crude slid $2.41, or 3.04%, to $76.90 a barrel by 1404 GMT. …
US President Joe Biden has tried to guarantee Americans that the US banking sector is “safe and sound” after regulators clutched California’s First Republic Bank, which JPMorgan Chase purchased in hopes of ending the two-month crisis end. On Monday afternoon, Biden praised regulators’ move to facilitate the bank’s sale, saying the move “will ensure …
The US economy likely continued growing strongly in the first quarter, controlled by strong consumer spending earlier in the year. Still, momentum has slowed significantly since then as the impact of higher interest rates spread. The Commerce Department’s report on Thursday’s first-quarter gross domestic product should show that the economy is not headed for a …
How US Consumer Spending Is Affecting the Economy Read More »
Despite modest improvements on Friday, oil prices were heading for a second week of losses. The weak US economic data and a lack of certainty regarding future interest rate increases affected the situation drastically. The more actively traded July contract was up 47 cents, or 0.6%, at 78.69 a barrel. Meanwhile, June Brent crude futures …
Oil market set for weekly decline as recession worries intensify Read More »
While much of the world is struggling desperately to stem the rising prices that are depressing living standards, China is working on the opposite. The consumer price (CPI) index increased by just 0.7% year-on-year in March. Factory gate prices have fallen for six straight months. Meanwhile, consumer prices in America were still 5% last month …
One of the biggest challenges the Fed has faced over the past period is curbing inflation. With prices for goods and services skyrocketing, consumers have taken the brunt of the dour global economic state. And as the economy remains downturned, a chain of consequences harms both corporate entities and consumers. The job market has been …
During the massive worker shortage that the Covid pandemic brought on, there were tons of changes for the US workforce. Dismayed by the conditions they’ve been working in, many have started demanding restructuring in worker-employer relations. That’s especially apparent in the service industry, where a large part of the US workforce resides. The biggest coffee …
After a few economically successful months, the US has had room for optimism. Job data has blown past any expectation, insinuating a recovering economy. Other positive indicators have shown us that expecting a quality of life increase isn’t just wishful thinking. However, January’s inflation data has soured the mood slightly. While it’s nothing to lose …
As the new year starts winding up and we enter the post-holiday economic phase, good news greets us. Namely, the inflation that has been ravaging the US has slowed down by a considerable margin. Fed’s new interest rate hike announcement shows us the smallest increase in almost a year. It has announced only a quarter-point …
The Eurozone on Tuesday beat expectations for a positive increase in the final quarter of 2022 and eased fears of a potential regional recession. The first data from Eurostat on Tuesday showed that the euro area grew by 0.12% in the fourth quarter. Economists predicted a 0.12% decline in the same period. The latest statistics come …
The US economy likely finished 2022 with on a high note despite its numerous challenges. FactSet’s economists have estimated that the GDP grew at a 2.3% annual pace from October to December. However, the economy is still broadly expected to slow down and potentially slide into a recession in the coming months. That’s the result …
When much of the world experienced a major recession in 2008-2009, China managed to weather the storm and buoy the global economy through massive government spending efforts. In 2022, the country’s economy will grow by only 3%. According to a December survey of 37 economists by Nikkei, growth will remain slow in the first three …
China’s economy expanded at a 3% annual rate last year, less than half the rate projected for 2021. European stocks fell, while Asian shares were mixed as investors awaited whether the Bank of Japan would change its long-term policy of keeping its key interest rate at -0.11% at the end of a meeting on Wednesday. …
Global Equities Fall as China’s Economy Slows Further Read More »
The World Bank has recently released its latest report, Global Economic Prospects. The report has slashed its global growth forecasts from projections made in mid-2022 due to worsening economic conditions. In total, the global economic growth outlook for the global economy has shrunk to 1.7% for 2023. That proposes a significant decrease from its earlier …
