As the American economy continues to struggle with high inflation and weak economic growth, concerns about the country slipping into a stagflation are popping up. Stagflation is an economic cycle marked by slow GDP growth, high inflation, and high unemployment rate. Policymakers usually find it difficult to handle such a situation because any attempt to…
ANALYSIS: US Economy Flirting With Stagflation as Prices Remain High While Economy Slows Down
June 21, 2023
admin
Business & Marketseconomic policieseconomic recessioneconomyinflationPolicies & ImpactsrecessionstagflationUSUS News
0 Comment
Wall Street Opens Lower as Powell Doubles Down on Inflation Fight
Wall Street’s main indexes opened lower on Wednesday as Federal Reserve Chair Jerome Powell remained firm in bringing inflation back to 2 percent target, spurring worries of more monetary tightening. The Dow Jones Industrial Average fell 63.31 points, or 0.19 percent, at the open to 33,990.56. The S&P 500 opened lower by 8.70 points, or…
Dollar Firm Ahead of Powell Testimony, Sterling Falls After Inflation Data
SINGAPORE/LONDON—The dollar was firmer on Wednesday leading into Federal Reserve Chair Jerome Powell’s appearance before Congress, where he is expected to strike a hawkish tone, while sterling slipped after hotter-than-expected British inflation data. The annual pace of British consumer price gains was steady at 8.7 percent in May, against hopes it had cooled since April….
Stocks Uneasy in Case Powell Embraces His Inner Hawk
June 21, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
SYDNEY/LONDON—Stocks slipped on Wednesday on negative news including a lack of new stimulus from Beijing, bearish British inflation data, and a further slump in European real estate, as markets await direction from Federal Reserve Chair Jerome Powell. The world’s most powerful central banker faces lawmakers in two days of testimony and is sure to be…
UK Grocery Inflation Drops to Lowest Monthly Rate But Still ‘Pretty Painful’: Report
Grocery price inflation has fallen to its lowest rate this year, bringing slight relief to British consumers, according to UK market research analysts. Grocery inflation sits at 16.5 percent for the four weeks to June 11, which is its lowest level since last year. However, analysts at the data analytics company Kantar have warned that…
Yuan Dips After China Cuts Rates; Swedish Crown, Aussie Slide
London—The yuan slipped towards a seven-month low on Tuesday after China cut interest rates, while the Swedish crown weakened to its lowest level since 2009 against the euro on persistent concerns about the real estate sector. China lowered its one-year and five-year loan prime rates (LPR) by 10 basis points, the first such easing in…
China’s Smaller-Than-Expected Rate Cut Sends Stocks Lower
June 20, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
HONG KONG/LONDON—European and Asian stocks fell on Tuesday after China cut interest rates by less than expected and the market awaited more details on Beijing’s plans to shore up a stuttering economic recovery. China cut its benchmark loan prime rates (LPR) for the first time in 10 months on Tuesday, with a smaller-than-expected 10-basis point…
Has the Recession Already Started? May 2023 Edition
Inflation has been putting pressure on households across the country for over a year now. And while prices have started to decrease again, increasing consumers’ purchasing power in the process, inflation is not yet yesterday’s problem. As you map out your own household budget, it’s easy to spot the continued impact of higher prices. With…
Stocks Rally Stalls, Eyes Powell Testimony for Rate Clues
June 19, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
LONDON, SYDNEY—Global shares drifted on Monday, consolidating gains after hitting a 14-month high last week, as investors awaited testimony from U.S. Federal Reserve Chair Jerome Powell in markets that remain dominated by monetary policy bets. The MSCI’s broad gauge of world stocks was steady, with Wall Street markets closed for the Juneteenth holiday. In Europe,…
‘Fastest and Most Aggressive’ Tightening Policy Could Trigger US Recession: Wells Fargo
Wells Fargo Investment Institute is predicting a recession in the United States this year as a result of the Federal Reserve’s aggressive monetary tightening policy. Wells Fargo is expecting a “global slowdown,” including a “moderate” recession in the United States this year, followed by a U.S.-led recovery in 2024, the firm’s 2023 Midyear Outlook report…
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`