OTTAWA—The Bank of Canada’s pause on raising interest rates lasted just over four months. Canada’s central bank raised its overnight rate target to 4.75 percent with a 0.25 percentage point (25 basis points) rate hike on June 7, in the face of mounting evidence of an economy that’s still running too hot. The BoC cited…
Bank of Canada Ends Pause, Hikes Key Rate to 4.75 Percent—Highest Since 2001
Dollar Eases as Chances for a US Rate Rise Ebb
LONDON—The dollar dipped on Wednesday as chances faded for a rate hike next week by the Federal Reserve, while the Canadian dollar touched one-month highs as traders amped up bets for the country to raise rates and the Turkish lira hit record lows. The Australian dollar traded at three-week highs above $0.67 after the Reserve…
European Shares Dip as Chinese Trade Data Disappoints, Lira Plunges to Record Low
June 7, 2023
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LONDON—European stock markets dipped on Wednesday and the U.S. dollar nudged higher as weak Chinese trade data had investors fretting about softening global demand, with attention turning towards next week’s pivotal inflation data and Federal Reserve meeting. Meanwhile, Turkey’s lira plunged to a record low against the greenback as authorities appeared to loosen stabilising measures…
Government Have ‘Given Up’ on Fighting Inflation: Deputy Liberal Leader
Deputy Opposition leader Sussan Ley said she believes the government “has given up” on trying to control inflation. “As I listened to the Treasurer yesterday, I felt that the government has given up. There was a shrugging of the shoulders, what more can we do attitude. But absolutely no plan to address the key issue…
Government Has ‘Given Up’ on Fighting Inflation: Deputy Liberal Leader
Deputy Opposition leader Sussan Ley said she believes the government “has given up” on trying to control inflation. “As I listened to the Treasurer yesterday, I felt that the government has given up. There was a shrugging of the shoulders, what more can we do attitude. But absolutely no plan to address the key issue…
[PREMIERING 7:30PM ET] David Stockman: Debt Default, the ‘Doomsday Budget Machine,’ and Failed Fiscal Restraint Explained
June 6, 2023
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American Thought LeadersbidenBusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesDavid Stockmandebt ceilingdebt crisisDebt Limit BillDemocratsDonald Trumpeconomic policiesEconomyEpochTVExecutive BranchFederal Reservehigh inflationHouse Majority Leader Kevin McCarthyinflationinterest ratesLive VideosMarketsMedia & Big Techpersonal financePolicies & ImpactsPoliticspublic debtRepublicansUSUS NewsVideo
“For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings—real savings, not money printed by a central bank, but real savings from businesses and households,” says David Stockman, who served as budget director for President Ronald Reagan. “Back then, the public debt was 30-40…
[PREMIERING NOW] David Stockman: Debt Default, the ‘Doomsday Budget Machine,’ and Failed Fiscal Restraint Explained
June 6, 2023
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American Thought LeadersbidenBusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesDavid Stockmandebt ceilingdebt crisisDebt Limit BillDemocratsDonald Trumpeconomic policieseconomyEpochTVExecutive BranchFederal Reservehigh inflationHouse Majority Leader Kevin McCarthyinflationinterest ratesLive VideosMarketsMedia & Big Techpersonal financePolicies & ImpactsPoliticspublic debtRepublicansUSUS NewsVideo
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American Thought LeadersbidenBusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesDavid Stockmandebt ceilingdebt crisisDebt Limit BillDemocratsDonald Trumpeconomic policiesEconomyEpochTVExecutive BranchFederal Reservehigh inflationHouse Majority Leader Kevin McCarthyinflationinterest ratesLive VideosMarketsMedia & Big Techpersonal financePolicies & ImpactsPoliticspublic debtRepublicansUSUS NewsVideo
“For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings—real savings, not money printed by a central bank, but real savings from businesses and households,” says David Stockman, who served as budget director for President Ronald Reagan. “Back then, the public debt was 30-40…
David Stockman: Debt Default, the ‘Doomsday Budget Machine,’ and Failed Fiscal Restraint Explained
June 6, 2023
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American Thought LeadersbidenBusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesDavid Stockmandebt ceilingdebt crisisDebt Limit BillDemocratsDonald Trumpeconomic policieseconomyEpochTVExecutive BranchFederal Reservehigh inflationHouse Majority Leader Kevin McCarthyinflationinterest ratesLive VideosMarketsMedia & Big Techpersonal financePolicies & ImpactsPoliticspublic debtRepublicansUSUS NewsVideo
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American Thought LeadersbidenBusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesDavid Stockmandebt ceilingdebt crisisDebt Limit BillDemocratsDonald Trumpeconomic policiesEconomyEpochTVExecutive BranchFederal Reservehigh inflationHouse Majority Leader Kevin McCarthyinflationinterest ratesLive VideosMarketsMedia & Big Techpersonal financePolicies & ImpactsPoliticspublic debtRepublicansUSUS NewsVideo
“For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings—real savings, not money printed by a central bank, but real savings from businesses and households,” says David Stockman, who served as budget director for President Ronald Reagan. “Back then, the public debt was 30-40…
Aussie Jumps on RBA Hike, US Dollar Steady
LONDON—The Australian dollar jumped to its highest since mid-May on Tuesday after the Reserve Bank of Australia (RBA) raised interest rates, in a decision that many analysts had said would be a close call between a hike and a pause. The U.S. dollar was steady, below last week’s 2–1/2-month highs versus major peers, after unexpectedly…
Oil Falls as Economic Fears Overshadow Saudi Output Cut
June 6, 2023
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LONDON—Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about the global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts. Brent crude futures were down $1.33, or 1.73 percent, to $75.38 a barrel by 0923 GMT. U.S. West Texas Intermediate crude fell…
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