Tag: recession

German Firms Now More Pessimistic Than At Peak of COVID-19

November 2, 2022
Business & MarketsBusiness Confidencebusiness optimismeconomic policieseconomyenergyEU energy crisisEuropeGerman energy crisisinflationrecessionWorld
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Businesses in Germany are becoming less confident about their economic future, according to a survey conducted by the Association of German Chambers of Industry and Commerce (DIHK). Among the over 24,000 companies that took part in the survey, 52 percent are expecting their business to deteriorate over the next 12 months, with only 8 percent…

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Inflation by Design

November 2, 2022
capitalismclimate changeenergy transitionfossil fuelsfree marketinflationOpinionrecessionU.S. economyViewpoints
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Commentary Years ago, one of my high school teachers showed us the great essay by Leonard Read called “I, Pencil.” We used pencils in those pre-internet days, and my “young mind full of mush” (hat tip to Rush Limbaugh) was inspired by the essay’s message: the common pencil, in its components, is extraordinarily complex and the…

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ECB Must Keep Raising Rates Even If Recession Risks Rise, Lagarde Says

November 2, 2022
Business & MarketsECBeconomic policieseconomyEuropeeurozoneinflationlagarderatesrecessionWorld
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FRANKFURT—The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a eurozone recession has increased, ECB President Christine Lagarde said in an interview published on Tuesday. “Our mandate is price stability and we have to deliver on that using all the tools we have available,” Lagarde told…

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The Cultural Destruction of Inflation

November 2, 2022
AnalysisBusiness & MarketsBusiness Columnistscredit card debtCultureinflationOpinionprosperityrecessionU.S. economy
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Commentary What is inflation doing to the culture? For a clue, have a look at trends in household economics. Start with credit card debt, which is now rising 14 percent per year in the United States, after having fallen dramatically during 2020 lockdowns. People wisely used stimulus payments to pay off some debt. That is…

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Mortgage Demand Slumps Again Despite Rates Easing as Housing Downturn Intensifies

November 2, 2022
Business & MarketseconomyHome saleshousing marketMarketsmortgage applicationsmortgage demandreal estaterecessionrising mortgage ratesU.S. interest rate hikesUSUS Real Estate
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Even though mortgage rates eased down a bit, demand for mortgages fell for the week ended Oct. 28, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, which measures mortgage loan-application volume, declined by 0.5 percent on a seasonally adjusted basis for the week ended Oct. 28 when compared to a…

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Wall Street Opens Lower With Focus on Fed Rate Decision

November 2, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened lower on Wednesday, ahead of an interest rate decision by the Federal Reserve, as a jump in private payrolls fueled fears that the central bank would not temper its aggressive stance on future rate hikes. The Dow Jones Industrial Average fell 76.92 points, or 0.24 percent, at the open to…

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‘A Mild Winter Alone Can’t Save’ Europe, Energy Crisis Accelerates Region’s Deindustrialization

November 2, 2022
Business & MarketsDe-Industrializationeconomyenergyenergy costsEU energy crisisEuropeeurope energy crisisEurope energy pricesrecessionWorld
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Europe’s energy crisis is now threatening to ramp up deindustrialization on the continent as many firms face persistent struggles with high energy costs. Russia’s war against Ukraine and Moscow’s subsequent decision to cut energy supply to Europe has compromised the region’s energy security situation, pushing up fuel costs for commercial entities. Companies in Europe are…

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Oil Prices Slip Ahead of Fed, US Crude Stockpiles Seen Falling

November 2, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slipped on Wednesday ahead of an expected rate hike by the Federal Reserve, but found a floor as market participants eyed falling U.S. crude stockpiles and upcoming European sanctions on Russian barrels. Brent crude dipped 56 cents, or 0.6 percent, to $94.09 a barrel by 1027 GMT, while U.S. West Texas Intermediate (WTI)…

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Dollar Falls as Fed Decision Looms, Yen and Real Gain

November 2, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON/TOKYO—The dollar slipped on Wednesday as investors awaited a Federal Reserve policy decision amid speculation it might indicate a slowdown in future rate hikes. The central bank will release its policy statement at 2 p.m. EDT (1800 GMT), with investors widely expecting a 75 basis points (bps) rate hike, the fourth such increase in a…

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Caution Creeps Into World Stocks as Fed Gets Ready to Hike Big Again

November 2, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—European shares dipped and U.S. stock futures were mixed on Wednesday as a note of caution crept into world stock markets as the U.S. Federal Reserve looked set to deliver its fourth, 75 basis points interest rate increase. Another aggressive rate hike to contain hot inflation when the Fed concludes its two-day meeting later is…

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