Are we in for another GFC? Will interest rates soar? Is Hanson crazy? I asked this economist
ANZ chief economist Richard Yetsenga is no alarmist, but he does sound one big alarm for the global economy.
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ANZ chief economist Richard Yetsenga is no alarmist, but he does sound one big alarm for the global economy.
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The Federal Reserve and its interest rate policy will be the main focus for Wall Street this week
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Gold prices firmed over 1 percent on Friday, rebounding from recent losses and finding a short-term floor despite strong U.S. inflation data bolstering expectations of an interest rate hike by the Federal Reserve next week. Spot gold rose 1.2 percent to $4,366.69 per ounce by 11:22 a.m. EDT (1522 GMT). The metal, however, was down about 1.4 percent for the week so far. "Gold is recovering rapidly after a brief dip, as CPI data may be cementing expectations of a Fed rate hike next week. The volatility is somewhat muted, as market had a hike 70 percent priced in," said Tai Wong, an independent metals trader. "Price action here suggests that gold is finding a short-term base after the recent retreat." U.S. gold futures gained 0.1 percent to $4,409.30. Prices fell nearly 2 percent on Thursday after the U.S. Producer Price Index data showed prices increased in line with expectations in August. The Consumer Price Index increased 0.4 percent last month after edging up 0.1 percent in July, the labor department's Bureau of Labor Statistics said on Friday. Oil prices fell on Friday, but remained on c
In London, the FTSE 100 index ended up 41.52 points, 0.4%, at 10,650.44.
WASHINGTON — U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges that are top of mind for many voters with midterm elections now just seven weeks away. The consumer price index rose 3.4 percent last month compared with a year ago, the Labor Department said Friday, just like July. But inflation quickened month to month as costs jumped 0.4 percent from July, quadrupling the 0.1 percent registered in the previous month. Inflation remains stubbornly elevated more than five years after prices soared as the economy emerged from the pandemic. Friday's report increases pressure on the inflation-fighters at the Federal Reserve to boost their benchmark interest rate next week, which could lift mortgage and auto loan costs in the months ahead. Federal Reserve Chair Kevin Warsh and other Fed officials have signaled they would need to see continuing disinflation to leave rates where they are. "Today’s August report did not deliver that,” said Kathy Bostjancic, chief economist at Nationwide. Price
U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges among American voters.
Inflation overall in August rose by 0.4% month-over-month to an annual rate of 3.4%, which was unchanged from July.
Russia’s Central Bank kept its key interest rate at 14% on Friday, saying that rising fuel costs, driven…
Oil near $100 could further squeeze leveraged private credit borrowers as investors weigh the risk that inflation could push interest rates higher again.
Investors tend to dread higher interest rates, but there's reason to believe that stocks will keep humming along even if the Fed tightens policy.
Global interest rate hikes are predicted as oil prices spark inflation fears.
Seoul shares opened sharply lower Friday, tracking losses on Wall Street, as the latest U.S. inflation data raised the possibility of the U.S. Federal Reserve raising interest rates to curb inflation. After opening 3.29 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) narrowed the losses, dropping 183.12 points, or 2.6 percent, to 6,850.80 as of 9:15 a.m. Overnight, surging oil prices sparked a sell-off in U.S. stocks amid escalating tensions in the Middle East. The Dow Jones Industrial Average fell 0.6 percent, while the tech-heavy Nasdaq Composite declined 0.65 percent. The U.S. producer price index rose 0.4 percent in August from a month earlier, while investors are awaiting Friday's consumer price report for clues about the Fed's future rate path. In Seoul, tech stocks led the decline. Market bellwether Samsung Electronics fell 3.5 percent, and its chipmaking rival SK hynix plunged 4.48 percent. Top carmaker Hyundai Motor dropped 2.57 percent, and leading battery maker LG Energy Solution shed 0.68 percent. Among gainers, state-run utility Korea Electric Power Corp.