Commentary As the midterms approach, one way of looking at America’s current disaster is that we, the American people, were lab rats. And since 2021, the Left were the mad scientists, eager to try out their crackpot leftist experiments on us. The result is that the housing market is tottering on the verge of collapse….
The Left Were the Mad Scientists—We Were Their Lab Rats
November 3, 2022
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border crisiscrimedefund the policedieselhousing marketinflationlabor participationleftmidterm electionmilitary recruitmentnational debtOpinionrecessionsupply chain crisisViewpoints
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The Fed Has Just Begun to Fight
November 3, 2022
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AnalysisBusiness & MarketsBusiness ColumnistsFederal Reserveinflationinterest ratesOpinionPandemic ResponserecessionstagflationU.S. economy
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News Analysis There was widespread fear and loathing on Wall Street after the Fed’s announcement of further rate increases, 75 basis points again and the sixth increase this year. The Fed has not increased rates this far this fast in the entire postwar period. The pace is without precedent, and indicates that the Fed is…
UK Central Bank Raises Interest Rates to 3 Percent, Highest for 14 Years
November 3, 2022
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Andrew BaileyBank of EnglandBusiness & Marketseconomyinflationinterest ratesJeremy HuntKeir StarmerrecessionUKWorld
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The Bank of England, the UK’s central bank, has raised its base interest rate to 3 percent, the highest for 14 years. All but two members of the bank’s Monetary Policy Committee (MPC) voted to push up interest rates by 0.75 percentage points, from 2.25 to 3 percent, during a crunch meeting on Nov. 3….
Wall Street Opens Lower on Rate Hike Worries
Wall Street’s main indexes opened lower on Thursday as yields climbed against the backdrop of worries that the U.S. Federal Reserve’s rate-hike cycle is far from over, despite hints of smaller rate increases in the future. The Dow Jones Industrial Average fell 162.71 points, or 0.51 percent, at the open to 31,985.05. The S&P 500…
The Russia–Ukraine War: A Regional Disaster Threatens a Wider Catastrophe
November 3, 2022
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American diplomacyAnalysisBusiness & MarketsBusiness ColumnistseconomyenergyEuropefaminefighting in UkraineinflationOpinionrecessionRussiaRussia-Ukraine WarUncategorizedWorld
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Commentary Russia miscalculated in expanding its war on Ukraine beyond the Russophile Eastern Ukraine and Crimea. The attack on Kyiv and western Ukraine unified NATO and impelled the United States to engage in a proxy war with Russia in Ukraine. In the months since, Ukraine—with American and allies’ arms and aid—has proven far more resilient…
Fed’s Powell Crushes Pivot Hopes, Says ‘Very Premature’ to Think About Pause on Rate Hikes
Federal Reserve Chair Jerome Powell dashed investors’ hopes for a quick pivot away from restrictive monetary policy, saying during a press conference on Nov. 2 that it’s “very premature” for market participants to be thinking about the central bank hitting pause on rate hikes amid the risk that expectations of higher inflation become entrenched. In…
Dollar Rallies After Hawkish Fed; Pound Slides as BoE Warns of ‘Very Challenging’ Outlook
LONDON—The dollar strengthened on Thursday, after the Federal Reserve signalled U.S. interest rates will likely peak at a higher rate than markets had expected, while the pound fell after the Bank of England raised rates but warned of a “very challenging outlook.” The BoE lifted UK interest rates to 3 percent from 2.25 percent in…
Oil Falls as Fed Rate Hike Raises Fuel Demand Concerns
November 3, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil slipped on Thursday as an increase to U.S. interest rates pushed up the dollar and heightened fears of a global recession that would crimp fuel demand, though losses were capped by concern over tight supply. Brent crude dropped by $1.19, or 1.2 percent, to $94.97 a barrel by 1135 GMT while U.S. West Texas…
US Futures Retreat as Fed Digs in for Inflation Fight
November 3, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Wall Street is heading lower ahead of Thursday’s opening bell after the Federal Reserve added another jumbo rate increase and suggested that the pace of rate hikes may slow, but the fight against inflation is far from over. Futures for Wall Street’s benchmark S&P 500 index fell 0.8 percent and futures for the Dow Jones…
Maersk Sees Container Demand Slowing as Recession Looms
OSLO—Shipping group Maersk warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations. “It is clear that freight rates have peaked and started to normalize during the quarter, driven by both decreasing demand and…
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