Sweden’s Riksbank on Tuesday launched a 100 basis point hike to interest rates, taking its main policy rate to 1.75%, as it warned that “inflation is too high.” In a statement, the central bank said soaring inflation was «undermining households’ purchasing power and making it
The Biden administration is considering executive action to try to avoid a shutdown of the nation’s rail network that would harm the economy ahead of the midterm elections. WASHINGTON — President Biden, desperate to avert a damaging freight rail strike that could exacerbate rapid inflation, is
Prospects for the U.S. economy are flagging as high prices have forced Americans to focus more of their spending on staples and demand is expected to weaken further, according to a Federal Reserve report Wednesday. The U.S. central bank has been raising interest rates aggressively
Fed has already raised interest rates by 225 basis points since March to halt escalating inflation. With economy shaking, how will it proceed from here? Powell may leave clues in Jackson Hole. Exactly a year ago, central bankers were saying at Jackson Hole that high
The founder of Microsoft answered several questions in an open forum on Reddit and one of the most commented questions was about the cryptocurrency market. Bill Gates created an “Ask me Anything” (AMA) thread on the Reddit forum. The billionaire, who already offered hundreds of
Workers at three Amazon warehouses, located in the cities of Washington and New York, left in the middle of their night shifts on Wednesday, in a protest demanding a salary increase of three dollars an hour, as well as the reinstatement of breaks with the
The president of the Federal Reserve Bank of Saint Louis, James Bullard, warned on Monday that the credibility of the Fed is at risk due to the high inflation that the country is experiencing in recent months. “Our credibility is on the line here and
After the US CPI data, which marked a new maximum in 40 years, the market already values a 50% probability that the Fed will raise interest rates by 50 basis points in March. Inflation in the US does not give a break to the Federal
The US Federal Reserve (Fed) has not moved interest rates yet, although it hopes to do so in March. Fed Chairman Jerome Powell said that “the committee intends to raise rates at the March meeting, assuming conditions are right to do so.” Still, he said
The People’s Bank of China (BPC) on Tuesday injected 200,000 million yuan ($31 billion) in the short term through a refinancing operation (repo) in which it applied an interest rate of 2.20%, according to the entity. The operation took place after this Monday the indicators