Economic events

'The Fed is breaking things' - Here's what worries Wall Street as risks rise around the world

‘The Fed is breaking things’ – Here’s what worries Wall Street as risks rise around the world

U.S. Federal Reserve Chairman Jerome Powell at a Fed Listens event in Washington, DC, U.S., Friday, September 23, 2022. Al-Draco | Bloomberg | Getty Images As the Federal Reserve steps up its efforts to tame inflation, sending the dollar soaring and bonds and stocks plummeting, there are growing concerns that the central bank’s campaign could …

‘The Fed is breaking things’ – Here’s what worries Wall Street as risks rise around the world Read More »

Erdogan says Turkey will continue to cut interest rates, mocks sterling

Erdogan says Turkey will continue to cut interest rates, mocks sterling

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at parliament in Ankara, Turkey, May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE A PROVIDED BY A THIRD PARTY. NO RESALE. NO ARCHIVES. COMPULSORY CREDIT Murat Cetinmuhurdar Reuters Turkey will continue to cut interest rates, its President …

Erdogan says Turkey will continue to cut interest rates, mocks sterling Read More »

Larry Summers calls UK tax cuts 'totally irresponsible' and warns of possible contagion

Larry Summers calls UK tax cuts ‘totally irresponsible’ and warns of possible contagion

Larry Summers Cameron Costa | CNBC LONDON — Former US Treasury Secretary Larry Summers warned on Tuesday that the United Kingdom had lost its sovereign credibility after the new government’s fiscal policy sent markets tumbling. The pound hit an all-time low against the dollar in the early hours of Monday morning, before recovering slightly on …

Larry Summers calls UK tax cuts ‘totally irresponsible’ and warns of possible contagion Read More »

As 30-year mortgage rates hit 6.7%, homebuyers face “payment shock.”  Here are ways to save

As 30-year mortgage rates hit 6.7%, homebuyers face “payment shock.” Here are ways to save

Noel Hendrickson/Getty Images Even with signs of a slowing housing market, home buyers are still feeling the sting of high prices and higher interest rates. The average rate for a 30-year fixed-rate mortgage is 6.7% on Friday, down from 3.3% at the start of 2022, according to Mortgage News Daily. Along with that, home prices …

As 30-year mortgage rates hit 6.7%, homebuyers face “payment shock.” Here are ways to save Read More »

European markets slide as investors digest more interest rate hikes;  BOE raises rates

European markets slide as investors digest more interest rate hikes; BOE raises rates

US stocks open mixed US stocks opened weakly on Thursday following the Federal Reserve’s decision on Wednesday to implement its third consecutive 0.75% interest rate hike. The Dow Jones Industrial Average and S&P 500 hovered around the fixed line in early trades, while the Nasdaq was down 0.2%. — Karen Gilchrist Bank of England raises …

European markets slide as investors digest more interest rate hikes; BOE raises rates Read More »

'Path to oblivion': Ukraine's military gains could worsen Russia's economic problems

‘Path to oblivion’: Ukraine’s military gains could worsen Russia’s economic problems

Russian President Vladimir Putin attends a meeting of heads of member states of the Shanghai Cooperation Organization (SCO) during a summit in Samarkand, Uzbekistan, September 16, 2022. Ministry of Foreign Affairs of Uzbekistan | via Reuters Ukraine’s counteroffensive, which has recaptured large swathes of territory occupied by Russia, could deepen Russia’s economic problems as international …

‘Path to oblivion’: Ukraine’s military gains could worsen Russia’s economic problems Read More »