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Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies.
On the southern bank of the Amur river that runs along the Russian border is one of the most affordable property markets in China. Where the average two-bedroom flat in Beijing can cost $1 million, investors can snap one up in the city of Hegang for $10,000. Dependent almost entirely on coal mining, Hegang’s economy ...
Poorer developing nations are likely to need faster G20 debt relief, the World Bank said on Tuesday, as an increasing number face being squeezed by rising indebtedness and slowing growth.
Companies raised more than $100bn on the bond market in the first week of this year as finance chiefs kicked off an effort to lock in low borrowing costs before benchmark interest rates start to climb.
Some analysts see a risk that wages and prices could chase each other higher, like they did the 1970s, even though U.S. labor has less bargaining power today.
Jan 11, 2022 - 07:22:41 PST
Recent comments from Federal Reserve Chair Jerome Powell hinted that the Fed may soon get serious about hitting the monetary brakes to slow the economy. Until recently, inflation was described as transitory. But at some point, that story has to change.
With the US Senate now trying to jam in vaccine passports in their Federalization of voting bill, it is clear that Washington DC is letting the Omicron variant terrify US citizens. But will the fear of the Omicron variant halt The Fed in its tracks?
Jan 11, 2022 - 06:49:40 PST
Federal Reserve Chairman Jerome Powell testifies Tuesday before the Senate Banking Committee as part of his confirmation process to head the central bank for a second term.
LIVE: Fed Chair Powell Testifies Before Congress During Confirmation Hearing — 1/11/22, 10:AM ETJan 11, 2022 - 06:49:40 PST
Federal Reserve Chairman Jerome Powell testifies Tuesday before the Senate Banking Committee as part of his confirmation process to head the central bank for a second term.
Ireland has added more gold to its reserves as inflation worries mount.According to the latest data, the Central Bank of Ireland purchased $88 million ($78 million euros) in gold in November, adding to the two tons it added to its holdings in previous months. With the latest purchases, the Irish central bank has boosted its gold reserves by over three tons in a three-month period.
Gold prices climbed for a third session on Tuesday as the dollar and Treasury yields retreated ahead of Federal Reserve Chair Jerome Powell's nomination hearing as bets grew for a quicker pace of U.S. interest rate hikes. Powell pledged “to prevent higher inflation from becoming entrenched” in comments prepared for delivery at his hearing on Tuesday before the Senate...
Runaway house price inflation continues to characterize the U.S. market. House prices across the country rose 15.8% on average in October 2021 from the year before. U.S. house prices are far over their 2006 Bubble peak, and remain over the Bubble peak even after adjustment for consumer price inflation. They will keep on rising at the annual rate of 14–16% for the rest of 2021, according to the AEI Housing Center.
The euro zone's inflation surge is not entirely temporary and risks are skewed towards higher-than-projected readings, new Bundesbank President Joachim Nagel said on Tuesday, challenging the European Central Bank's narrative on price pressures. The remarks, made at his swearing-in ceremony, are Nagel’s first as head of the German central bank, which has traditionally taken...
The amount of government bonds hitting the private sector is set to swell in 2022, adding pressure on yields to rise further as investors across most major markets absorb much larger helpings of debt.
Clarida's resignation followed reports that he corrected his previous financial disclosure late last month to show he sold a stock fund and then swiftly repurchased it shortly before the Fed announced a barrage of rescue programs to stem the economic fallout from the coronavirus pandemic.
Federal Reserve Chair Jerome Powell said the central bank will prevent higher inflation from becoming entrenched while cautioning that the post-pandemic economy might look different than the previous expansion.
Federal Reserve Chair Jerome Powell will pledge to fight inflation when he testifies on Tuesday at a congressional hearing during which fast-rising U.S. prices will likely spark plenty of lawmaker questions and criticism.
World Economic Forum: Expect 3 More Years of Consistent Volatility, Uneven RecoveryJan 11, 2022 - 05:24:38 PST
The ongoing COVID-19 pandemic makes for a cloudy outlook for the society at large, says the World Economic Forum in its annual risk report.
Between inflation and ongoing supply chain issues, prices are rising and it's eating away at the average family budget.
Goldman's David Kostin Says a Tech Disconnect Is the 'Single Greatest Mispricing' in U.S. StocksJan 11, 2022 - 05:18:58 PST
A tech stock derating likely has further to go, according to Goldman Sachs' Chief U.S. Equity Strategist David Kostin.