LONDON—The dollar was heading for its largest weekly fall since mid-January on Friday as the view took hold among investors that the Federal Reserve will forgo an interest rate hike this month, which would diminish the greenback’s appeal to non-U.S. buyers. The U.S. Senate’s passage of a bill to suspend the debt ceiling and avert…
Stocks Gain, Dollar Stumbles as US Averts Default, Fed Skip Bets Rise
June 2, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
LONDON/SINGAPORE—Global stocks and commodities rose on Friday while the dollar headed for its biggest weekly drop since January, as sentiment was buoyed by signs the Fed will skip a rate hike at its next meeting and the approval of U.S. debt ceiling legislation. Markets are now focused on U.S. jobs data due 0830 EST (1230…
Large Number of Job Openings May Lead to Rate Hike
June 1, 2023
admin
Business & Marketseconomic policieseconomyFederal ReserveinflationJOLTSMarketspersonal financePolicies & ImpactsrecessionU.S. labor marketUS
0 Comment
U.S. job openings unexpectedly rose last month, but the strong labor market numbers could lead the Federal Reserve to raise interest rates again in June. It is beginning to appear that the banking-sector crisis caused by the collapse of Silicon Valley Bank in March had little effect on employers’ strong demand for workers. Fed Chairman Jerome…
Macy’s Slashes Expectations for the Year After a Pullback by Shoppers in the Spring
Macy’s slashed its outlook for the entire year as sales weakened in the first quarter during an increasingly challenging economic environment, including stubbornly high inflation. Sales began to flag in March, forcing the New York department store to cut prices on clothes and other discretionary items. Macy’s results wrap up the retail industry’s fiscal first-quarter…
Global Debt Soars Again
Commentary Global debt levels soared by $8.3 trillion in the first quarter of 2023, climbing to $305 trillion, nearly the record high set in the first quarter of 2022, according to the Institute of International Finance. This means almost 335 percent of GDP. Rising debt is a burden on growth, and soaring public debt means…
Central Banks Caused Inflation, Debt Ceiling Deal Is ‘Total Scam,’ Says Reagan Economist David Stockman
The inflationary environment gripping the U.S. and global economies was driven by central banks worldwide distorting the economy through fiat credit expansion, resulting in sky-high inflation and financial bubbles, said David Stockman, the former director of the Office of Management and Budget (OMB) under President Ronald Reagan. During the coronavirus pandemic in 2020 and 2021,…
Central Banks Caused Inflation, Debt Ceiling Deal Is ‘Total Scam,’ Reagan Economist David Stockman Says
The inflationary environment gripping the U.S. and global economies was driven by central banks worldwide distorting the economy through fiat credit expansion, resulting in sky-high inflation and financial bubbles, according to David Stockman, the former director of the Office of Management and Budget under President Ronald Reagan. During the coronavirus pandemic in 2020 and 2021,…
UK House Prices See Biggest Annual Fall Since 2009
The average UK house price saw its biggest annual fall in nearly 14 years in May, Britain’s biggest building society has said. According to the Nationwide Building Society, property values fell by 3.4 percent annually in May, marking the biggest drop seen since July 2009, when an annual fall of 6.2 percent was recorded. The…
Euro Steadies Near 2-month Low as Inflation Drops in Relief for ECB
LONDON—The euro steadied on Thursday near a two-month low after data showed eurozone inflation eased more than expected last month, backing arguments for only cautious further rate hikes by the European Central Bank (ECB). Inflation in the 20 nations sharing the euro eased to 6.1 percent in May from 7.0 percent in April, below expectations…
Shares Gain on US Debt Bill Passage, Fed Pause Talk
June 1, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
LONDON/TOKYO—Global shares rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage through the U.S. House of Representatives of a bill to suspend the federal debt ceiling. A divided House passed a bill to suspend the $31.4 trillion debt ceiling—and avert a catastrophic default—with majority support from…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`