Commentary All over the developed world, voters identify inflation as a significant concern. They do so for good reason. Inflation is stubborn and brings hardships at all levels of society. If left unchecked, it will stifle growth prospects. As is always the case, today’s inflation stems primarily from faulty monetary policies. But if monetary mismanagement…
Productivity Slows to a Crawl as Recession Sets In
Commentary For reasons I cannot explain, there was widespread shock at the new GDP numbers for the first quarter. They revealed a 1.1 percent growth rate, which is a crawl and much lower than the experts anticipated. And the new data points to an inexorable reality. Certainly the recession will be obvious by the summer…
Wall Street Opens Lower as Amazon Drags, Inflation Worries Persist
April 28, 2023
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Business & MarketsCompanieseconomic policieseconomyinflationMarketsMedia & Big TechrecessionstocksUS
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Wall Street’s main indexes opened lower on Friday after Amazon warned about a slowdown in its cloud business, while strong inflation data cemented bets that the Federal Reserve will hike interest rates again next week. The Dow Jones Industrial Average fell 28.73 points, or 0.08 percent, at the open to 33,797.43. The S&P 500 opened…
75 Percent of Americans Say Economy Getting Worse Under Biden
An increasing number of Americans believe economic conditions are worsening under the Biden administration, according to the findings of a new Gallup survey. Gallup polled 1,013 American adults aged 18 and over between April 3 and April 25. The survey has a margin of error of plus/minus 4 percentage points. The survey found that 19 percent of…
75 Percent of Americans Say Economy Getting Worse Under Biden: Survey
An increasing number of Americans believe economic conditions are worsening under the Biden administration, according to the findings of a new Gallup survey. Gallup polled 1,013 American adults aged 18 and over between April 3 and April 25. The survey has a margin of error of plus/minus 4 percentage points. The survey found that 19 percent of…
Eurozone Grows Marginally at Start of 2023 After Stagnation
BRUSSELS—The eurozone grew only marginally in the first three months of 2023 and at a rate lower than market expectations after stagnation at the end of last year, preliminary data showed on Friday. Gross domestic product in the eurozone expanded by 0.1 percent in the first quarter, below expectations in a Reuters poll for 0.2…
BOJ’s New Chief Keeps Ultra-Low Rates, Embarks on Policy Review
April 28, 2023
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Asia & PacificbojBusiness & Marketseconomic policieseconomyinflationJapanMarketsPolicyrecessionUedaWorld
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TOKYO—The Bank of Japan (BOJ) kept ultra-low interest rates on Friday but announced a plan to review its past monetary policy moves, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor’s massive stimulus programme. While maintaining its commitment to “patiently” keep policy accommodative, the central bank removed a pledge from…
German Unemployment Rises More Than Expected in April
BERLIN—German unemployment rose more than expected in April, Labour Office figures showed on Friday, as a sluggish economy took its toll on the labour market. The Federal Labour Office said the number of people out of work increased by 24,000 in seasonally adjusted terms to 2.567 million. Analysts polled by Reuters had expected that figure…
Euro Slips on GDP Data, Yen Slumps as BOJ Maintains Ultra-Low Rates
LONDON/SINGAPORE—The euro fell on Friday after economic data painted a mixed picture for growth and inflation across the eurozone, raising uncertainty around the size of the European Central Bank’s expected interest rate hike next week. Preliminary data showed gross domestic product in the eurozone expanded by 0.1 percent in the first quarter, below expectations in…
Oil Heads for Another Monthly Decline as Weak US Data Weighs
April 28, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were heading for another monthly decline on Friday after disappointing U.S. economic data and uncertainty over further interest rate hikes weighed on the demand outlook. Brent crude futures for June were up 42 cents, or 0.5 percent, at $78.79 a barrel by 0946 GMT while the more actively traded July contract was down…
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