TOKYO—Global shares were mostly higher Wednesday, as investors watched for key inflation data likely to influence the Federal Reserve’s stance on interest rates. France’s CAC 40 added 0.4 percent in early trading to 7,420.32. Germany’s DAX edged up 0.4 percent to 15,709.27. Britain’s FTSE 100 surged 0.5 percent to 7,825.05. The future for the Dow…
Global Shares Trend Higher With Focus on Inflation Data
April 12, 2023
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Recession Risk Grows After Money Supply Shrinks at Fastest Pace Since Great Depression
The U.S. money supply contracted for the third consecutive month, and is declining at the fastest pace since the Great Depression, new Federal Reserve data show. In February, the M2 money supply—a benchmark for how much cash, bills, bank deposits, coins, and money market funds are circulating throughout the national economy—tumbled 2.24 percent from the…
Top Economist Warns ‘the Worst Is Ahead of Us’ as Bank Crisis Will Lead to ‘Serious Credit Crunch’
Noted economist Nouriel Roubini has warned that the worst is yet to come for the U.S. economy in the wake of the recent banking turmoil, which could lead to a serious credit crunch. Roubini, who is nicknamed “Dr. Doom” for being one of the first economists to call the recession fo 2008–09, made the comments during an…
UK to Be Worst-Performing G-7 Economy This Year, Predicts IMF
The International Monetary Fund (IMF) expects the UK economy to grow more slowly than all other Group of Seven (G-7) advanced economies, though it has upgraded its forecast for the country. The latest IMF forecast shows that UK economic output is expected to contract by 0.3 percent this year before rebounding to grow by 1…
Do Interest Rates Go Down in a Recession?
If you’re living in a time of rising inflation, you may hear about the Federal Reserve (or the Fed, for short) increasing interest rates. Inflation is essentially the devaluing of currency over time. If inflation happens too rapidly, people’s purchasing power decreases, and less money circulates into the economy. Key Takeaways A recession is when…
Wall Street Muted at Open as Investors Await Inflation Data
Wall Street’s main indexes were subdued at the open on Tuesday as investors kept an eye out for inflation data that could determine the U.S. Federal Reserve’s next policy moves. The Dow Jones Industrial Average rose 0.23 points at the open to 33,586.75. The S&P 500 opened higher by 1.18 points, or 0.03 percent, at…
Fed’s Williams Doubts Monetary Policy Spiked Banking Sector Stress
April 11, 2023
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NEW YORK—Federal Reserve Bank of New York President John Williams said on Monday that financial system troubles that drove the central bank to provide large amounts of credit to banks is not collateral damage from the Fed’s aggressive effort to lower inflation. “I personally don’t think the pace of rate increases was behind the issues…
Online Grocery Prices up 10.3 Percent in March as Inflation Continues to Bite
April 11, 2023
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Online grocery prices continued to rise by double-digits in March, as inflation continues to bite. Although online grocery prices have eased over the past six months, costs were up 10.3 percent in March from the previous year, according to the Adobe Digital Price Index on April 10. Adobe analyzed 1 trillion visits to retail sites and…
Dollar Dips as European Markets Return From Break
LONDON—The dollar gave back the previous day’s advances against the euro and pound on Tuesday as traders turned their attention to U.S. inflation data due on Wednesday for signs of how close U.S. rates are to peaking. The euro was up 0.52 percent at $1.0918 and the pound rose a similar amount to $1.2439 as…
Oil Rises on China Stimulus Expectations, Weaker Dollar
April 11, 2023
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LONDON—Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia, and a drop in U.S. crude stockpiles. Brent crude futures rose 63 cents, or 0.8 percent, to $84.81 a barrel at 0840 GMT, while U.S. West Texas Intermediate futures gained 68 cents, or 0.9 percent,…
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