It is rare for the currency of a $3-trillion economy to lose half a percentage point in one trading day against the dollar. But 2022 has been one such rare year of superlatives – both for the amplitude in daily currency movements and net withdrawals by overseas funds. Tuesday marked the eighth day in 2022 … Read more
Jamie Grill | Getty Images All the talk about a looming recession you may have worried about your finances. You aren’t alone: Some 74% of US consumers are concerned about a recession, according to a new survey from Empower and Personal Capital. In addition, 85% are worried about inflation and 56% are already seeing their … Read more
Here’s why Kentucky ranked 42nd in US for its economy. Getty Images | Royalty Free Getty Images/iStockphoto Kentucky was recently ranked the 42nd worst state in the country for its economy. WalletHub’s 2022’s Best & Worst State Economies consider 28 economic indicators in its ranking, including change in gross domestic product, unemployment and underemployment rates, … Read more
Germany trade entered negative territory in May, raising questions about the stability of its economy in the wake of Russia’s invasion of Ukraine. Picture Alliance | Picture Alliance | Getty Images Germany is no longer exporting more than it buys from other countries, highlighting the strains that the nation and other European energy are facing … Read more
The bond market is flashing a warning that the economy may be falling or already has fallen into recession, according to one closely watched measure. Market pros watch the spread on the Treasury yield curve, or the difference between the longer duration Treasury yields and shorter duration yields. Normally, longer duration yields, like the yield … Read more
Prior to the coronavirus pandemic’s arrival in America more than two years ago, the American consumer was like a diner at an all-you-can-eat buffet. The choices were endless and prices were reasonable, store shelves were stocked with goods from around the globe and credit was plentiful at rock-bottom rates. But then the dishes started disappearing … Read more
Markets entered the second half of the year Tuesday with an opening sell-off that saw the Dow Jones Industrial Average shed more than 500 points by mid-morning. That dashed hopes that the rally at the end of last week might signal a turn in investors’ fortunes following a first half that had market benchmarks suffering … Read more
The consumer price index grew 6 percent in June, fanning expectations of a big rate hike by the central bank. South Korea’s inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expectations of a big … Read more
Medan, Indonesia – When Indonesian President Joko “Jokowi” Widodo announced plans to visit Russia and Ukraine last week, he raised hopes of a solution to export blockages that have sent food prices soaring globally. “War has to be stopped and global food supply chains need to be reactivated,” Widodo said last Sunday before departing for … Read more
Colombo, Sri Lanka – Ranil Wickremesinghe, the newly appointed prime minister of crisis-hit Sri Lanka, has said he is confident he can turn the economy around – but cautioned it will take 18 months before stability returns. “The year 2023 is going to be difficult, but by 2024 things should pick up,” Wickremesinghe told Al … Read more
