A fiery comment from Rep. Pramila Jayapal (D-Wash.) quickly led to a backlash, putting Democrats on defense. Find out what the chair of the Congressional Progressive Caucus said about Israel and how her own party is responding. The Biden campaign is reportedly off to a slow start in donations. And Democrats voiced concerns over potential third party…
What Does It Mean to Have a Soft Landing?
July 17, 2023
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AnalysisBusiness & MarketsBusiness ColumnistseconomicsinflationOpinionrecessionsoft landingU.S. economy
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Commentary Economic language is packed with metaphors. It would be sunk without them. The economy is overheating. It’s depressed. It’s recessed. It’s hot. It’s cooling. It hit the skids. It’s in free fall. We’d better put on the brakes! Housing is underwater. This stock is headed to the moon. Inflation is easing. The Fed is…
Global Shares, Dollar Sag After China Data; Traders Bet on Fed Sea Change
July 17, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares and commodities slipped on Monday after data showed the Chinese economy is growing a lot more slowly than expected, while the dollar eased as traders ramped up their bets for an imminent end to U.S. rate rises. China reported economic growth of 0.8 percent in the second quarter, above the 0.5 percent forecasted,…
Tough Gauntlet Ahead for New Reserve Bank Chief
July 16, 2023
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AustraliaAustralian economyBusiness & Marketseconomic policiesinflationInternationalMichele BullockOpinionRBArecessionViewpointsWorld
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Commentary The job of Reserve Bank of Australia’s (RBA) governor might be one to dodge at the moment, but having waited 38 years for the opportunity I guess new Governor Michele Bullock was not going to say no. There are a lot of challenges sitting in her in-tray from day one, including expansionary federal and…
World Stocks Hit New 2023 Highs After Rally on Inflation Data
July 14, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks extended their gains on Friday, on track for their biggest weekly rise this year, while the dollar held near 15-month lows as investors bet that the U.S. Federal Reserve was nearing the end of its rate-hiking cycle. Data on Wednesday showed U.S. consumer prices growing at their slowest pace in more than two…
California Legislature Taking Up Job Killer Bills
July 13, 2023
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Californiacalifornia chamber of commerceNorthern CaliforniaOpinionrecessionRegional & State NewsSouthern CaliforniaState NewsUSViewpoints
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Commentary With a recession likely hitting California, now is the worst time for the Legislature to pass bills costly to state businesses. But that’s just what’s happening. Here are four of the worst bills currently on the 2023 Job Killer List of the California Chamber of Commerce. Senate Bill 399 is by Sen. Aisha Wahab…
Stocks Around 2023 Highs as Disinflation Signal Brings Some Relief
July 13, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks traded around their highs for the year on Thursday as investors bet that the Federal Reserve was finally taming inflation and could end its rate hiking cycle as soon as this month. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years…
US Desperately Needs a Long Deflation
Commentary Consumer Price Index (CPI) day has been the same for most of the last 12 months. Data comes in and it’s not good. The mainstream media, however, immediately broadcasts the Biden administration spin that inflation is easing so stop worrying about it. Today, the report is elevated beyond expectations: 0.2 percent for the month…
Dollar Drops as Traders Gear Up for Weak US Inflation
LONDON—The dollar sank to a two-month low on Wednesday ahead of a key read of U.S. inflation, while sterling hit 15-month highs after wage growth data fed expectations that the Bank of England (BoE) has further to go in raising rates. The yen strengthened past 140 to the dollar for the first time in a…
UK Banks Can Withstand Deep Recession: Bank of England
The UK banking system would be able to withstand a severe economic turbulence, deeper than the 2008 financial crisis, a report by the Bank of England (BoE) has claimed. The stress test performed by the BoE will likely appease British businesses and households who are concerned with the rising interest rates and high inflation. The…
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