BANGKOK—World shares have advanced ahead of Wednesday’s release of minutes from the Federal Reserve’s last policy meeting. Benchmarks rose in London, Paris, Hong Kong, and Shanghai. Markets were closed in Japan for a holiday. The Federal Reserve minutes could give investors more insight into the U.S. central bank’s decision-making process. Wall Street has been hoping…
World Shares Mostly Higher Ahead of Release of Fed Minutes
November 23, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Factory Activity Shrinks, Employment Index Falls Into Recession Territory for First Time Since Pandemic
November 22, 2022
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Business & Marketseconomic recessioneconomymanufacturing indexManufacturing Industryrecessionrichmond manufacturing indexUS
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A regional index of manufacturing activity in the fifth district showed a decline for the second straight month, according to a recent report by the Federal Reserve Bank of Richmond, indicating economic recession in the overall economy. “The composite manufacturing index remained negative but edged up from -10 in October to -9 in November,” said…
Recession Signals Get Louder as Key Economic Gauge Drops for Eighth Straight Month
The possibility that the United States might slip into a recession has strengthened with the Conference Board Leading Economic Index (LEI) remaining in the red in October. The LEI fell by 0.8 percent last month, to 114.9, after falling by 0.5 percent in September, according to a press release on Nov. 18. During the six-month period between…
UK Faces Worst Economic Downturn Among G-7 Nations: OECD
The UK economy will contract more than any other G-7 nation next year, according to the latest forecasts from the Organisation for Economic Cooperation and Development (OECD). The OECD expects the UK economy to shrink by 0.4 percent in 2023 and grow by just 0.2 percent in 2024. Germany is the only other G-7 country…
UK Government Borrowing Rises as Energy Support Scheme Begins
November 22, 2022
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Business & Marketseconomic policieseconomyenergygovernment borrowinginflationJeremy HuntKwasi Kwartengliz trussrecessionUKWorld
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The UK’s government borrowing increased in October as the energy support scheme for households and businesses got under way. According to data released by the Office for National Statistics (ONS) on Nov. 22, government borrowing rose to £13.5 billion ($16 billion) in October. The figure was £4.4 billion ($5.2 billion) higher than the same month…
Fed’s Mester Says She Supports Smaller Rate Hike in December
The Federal Reserve can downshift to smaller interest rate hike increments from next month as it fine-tunes its policy actions to help bring down high inflation while keeping the economy humming, Cleveland Fed President Loretta Mester said on Monday. “I think we can slow down from the 75 at the next meeting. I don’t have…
Real Impact of Fed Hikes Likely Bigger Than What Target Rate Implies, Daly Says
San Francisco Federal Reserve President Mary Daly said on Monday the real-world impact of the U.S. central bank’s interest rate hikes is likely greater than what its short-term rate target implies. Against the Fed’s current short-term target rate of between 3.75 percent and 4.00 percent , Daly said some researchers have found “the level of…
Wall Street Opens Higher on Gains in Walgreens, Best Buy
Wall Street’s main indexes opened higher on Tuesday, with gains in shares of Walgreens and Best Buy helping investors assuage worries around the economic fallout from stricter COVID-19 curbs in China. The Dow Jones Industrial Average rose 109.8 points, or 0.33 percent, at the open to 33810.05. The S&P 500 rose 15.6 points, or 0.39…
OECD Warns of ‘Significant’ Economic Slowdown, Persistently High Inflation
The Paris-based Organization for Economic Cooperation and Development (OECD), which includes the United States as a key member, has warned of a “significant growth slowdown” for the world economy in 2023 along with high inflation that has become broader and more persistent. “The global economy is facing significant challenges,” the OECD said in a Nov. 22…
Dollar Cedes Some Ground, Bitcoin Hunkers Down
SINGAPORE/LONDON—The dollar retreated on Tuesday after rallying the previous day when investors rushed to the safe-haven currency on worries about China’s COVID-19 flare-ups, while fears of fresh contagion from the collapse of crypto exchange FTX pressured bitcoin. The euro was up 0.3 percent at $1.0265 after an 0.8 percent loss on Monday, sterling rose 0.46…
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