Economic expert John Quelch discusses the immediate impacts of a gas tax suspension and potential unforeseen consequence.
Here are the world's top 5 most liveable cities in 2022 — none are in the US and one is in 'the land that inflation left behind'
The US is the land of the free. But your money could go further elsewhere.
Switzerland is pretty pricey, but not the most pricey. These are the 10 most expensive cities to work abroad in 2022
Inflation has made remote employees worried about their purchasing power.
In one of his first legislative acts, newly-inaugurated Philippines President Ferdinand Marcos Jr has vetoed a bill sponsored by his lawmaker sister that would have created a special economic zone north of the capital, the presidential office said on Saturday. Marcos, 64, who took office on June 30 after winning the May election by a landslide, has inherited over $200 billion in government debt driven by his predecessor's pandemic response and the impact on the economy. "Fiscal prudence must be exercised particularly at times when resources are scarce and the needs are abundant," Marcos said in a letter on Friday addressed to Congress.
- Yahoo Finance
A new study from WalletHub ranked the 50 U.S. states and D.C. by economic performance and health.
The economy probably just plunged into a recession, according to a real-time data tracker used by a key Federal Reserve bank
Elon Musk and Cathie Wood have said we're already in a recession. More and more Wall Street banks see it. Now one of America's central banks seems to agree.
- Business Insider
"The risks of a 2022 recession are significantly higher than I would have judged six or nine weeks ago," Summers told Bloomberg.
U.S. manufacturing activity slowed more than expected in June, with a measure of new orders contracting for the first time in two years, signs that the economy was cooling amid aggressive monetary policy tightening by the Federal Reserve. The survey from the Institute for Supply Management (ISM) on Friday also showed a gauge of factory employment contracting for a second straight month, though an "overwhelming majority" of companies indicated they were hiring. The slowdown in manufacturing followed moderate consumer spending growth in May along with weak housing starts, building permits and factory production, which left some economists anticipating that the economy contracted again in the second quarter following a slump in gross domestic product in the first three months of the year.
- Yahoo Finance
Fed Chairman Jerome Powell admitted that there is “no guarantee” that the central bank can avoid a hard recession, introducing market fears that the Fed may not follow through on its plans to raise rates to 3.8%.
- Business Insider
A bear market in stocks has historically signaled a peak in inflation - but that doesn't mean the pain is over for investors, says a Wall Street investment chief
"The negative wealth effect certainly exists, and it is a powerful thing," The Leuthold Group's Doug Ramsey said.
- Idaho Statesman
The lieutenant governor deferred most of her last paycheck.
Senate Democrats are edging closer to a deal with Manchin to resurrect Biden's economic agenda. They'll face Sinema next.
Democrats crafted a new surtax on millionaires after Sinema stopped them from rolling back Trump tax cuts. Insider learned it's just been killed.
(Bloomberg) -- Former Treasury Secretary Lawrence Summers said that there’s an increasing risk the looming recession he’s anticipated will start sooner, in 2022, and that inflation may cool as a result.Most Read from BloombergJPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case Russian CutUS Court Ruling May Take 70,000 Truckers Off Road, Spur JamsCrypto Meltdown Claims Rolex and Patek Philippe as VictimsJPMorgan’s Aronov Ignores the ‘Cash Is Trash’ Chorus: Q&AThe Wheels Have Come Off Electric V
A note published by Guggenheim economist Matt Bush showed how the U.S. economy has slowed over the past few weeks.
(Bloomberg) -- Investors reeling from the brutal emerging markets selloff over the past six months again fled the rupee as India’s currency hit new lows, prompting the government to curb gold imports and oil exports to arrest a widening deficit. Most Read from BloombergJPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case Russian CutUS Court Ruling May Take 70,000 Truckers Off Road, Spur JamsCrypto Meltdown Claims Rolex and Patek Philippe as VictimsJPMorgan’s Aronov Ignores the ‘Cash Is Trash’ Ch
- Yahoo Finance
If we're already in a recession, it's the best recession ever.
Even as interest rates rise, a recession can be avoided if policy makers recognize the role that supply-side measures must play in restoring price stability.
- FX Empire
The US dollar has spiked during the trading week again, as the Japanese yen continues to get pounded by almost everything. That being said, we are forming the second shooting star in a row.
Central Bankers Talk Tough on Interest Rates. That Could Change if Markets and Economies Don’t Perk Up.
Former Federal Reserve Chairman Ben Bernanke contends that monetary policy is 98% talk. Central bankers are supposed to communicate goals they want the public and markets to believe. European Central Bank President Christine Lagarde apparently hasn’t gotten the memo.
The likelihood of a recession has been rising as the Fed tightens monetary policy to combat inflation. But the stock market largely doesn’t reflect this as Wall Street analysts cling to sanguine corporate earnings forecasts.
(Bloomberg) -- Ukrainian President Volodymyr Zelenskiy used his nightly address to praise the departure of Russian forces from Snake Island in the Black Sea, but signaled difficulties in the Donbas region. Moscow framed the move as a gesture toward facilitating grain exports, but Kyiv says its barrage of missile and artillery was behind the decision. Most Read from BloombergJPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case Russian CutUS Court Ruling May Take 70,000 Truckers Off Road, Spur Jam