WASHINGTON—The number of Americans applying for unemployment benefits fell significantly last week, a sign that the labor market remains strong even as the Federal Reserve continues to raise interest rates in an effort to cool the economy and slow inflation. Applications for jobless claims fell to 211,000 for the week ending Dec. 10, down by…
Fewer Americans Apply for Jobless Benefits Last Week
December 15, 2022
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ECB Slows Rate Hikes but Pledges Continued Inflation Fight
December 15, 2022
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FRANKFURT—The European Central Bank raised interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, pledged further hikes and laid out plans to drain cash from the financial system as part of its fight against runaway inflation. The ECB has been raising rates at an…
Dollar Gains After Fed Meet, BOE and ECB in Focus
LONDON—The dollar strengthened across the board on Thursday after the Federal Reserve said it would deliver more interest rate hikes next year and before meetings of the Bank of England and the European Central Bank. The euro fell 0.67 percent to $1.0611, and sterling lost 0.9 percent to $1.2316, both falling from six-month highs hit…
Oil Steadies After Early Decline as More Rate Hikes Loom
December 15, 2022
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LONDON—Oil prices steadied on Thursday after early declines as the dollar firmed while the possibility of further increases to interest rates by central banks also heightened demand concerns. Brent crude futures rose 14 cents, or 0.2 percent, to $82.84 a barrel by 1055 GMT and U.S. crude futures added 1 cent to $77.29. Gains in…
World Shares Decline After Fed Warns of Higher Rates to Come
December 15, 2022
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BANGKOK—Shares skidded in Europe and Asia on Thursday after a retreat on Wall Street by investors dismayed over the Federal Reserve’s warning that still more interest rate hikes are in store following its latest increase. Oil prices fell and U.S. futures also dropped. The declines followed the U.S. Federal Reserve’s hike in its key short-term…
Fed Announces Smaller Half-Point Hike to Fight Inflation and Latest Summary of Economic Projections
December 15, 2022
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The Federal Reserve announced a smaller 0.50 percentage point rate hike on Dec. 13, as expected, as it begins to dial back its efforts to fight inflation. The news came as Fed policymakers held their two-day Dec. 13–14 Fed policy meeting. The central bank had previously issued four straight months of 0.75 percentage point hikes,…
Chapman Economists Forecast Mild or Moderate Recession in 2023
December 14, 2022
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ORANGE, Calif.—Leading economic forecasters at Chapman University expect a mild or moderate recession to hit the U.S. possibly by next summer. Although the economy seems to be recovering from record-high inflation this summer, other signs point to a slowdown, according to Chapman’s President Emeritus Jim Doti. “There is something to worry about, because it’s the…
LIVE NOW: ‘New Regime’ Is ‘Deliberately Causing Recessions,’ Warns BlackRock; Digital Currency Agenda Accelerates
December 14, 2022
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The world is heading into a financial crisis, what has worked in the past will not solve the economic problems, and a “new regime” is “deliberately causing recessions.” These are among the key points in a 2023 playbook from woke investment company BlackRock. Yet what is the “new regime” and what are the causes of…
‘New Regime’ Is ‘Deliberately Causing Recessions,’ Warns BlackRock; Digital Currency Agenda Accelerates
December 14, 2022
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BlackRockCrossroadsdigital currencyEpochTVFeatured TopicsLive VideosPolicies & ImpactsrecessionregimeUSVideo
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The world is heading into a financial crisis, what has worked in the past will not solve the economic problems, and a “new regime” is “deliberately causing recessions.” These are among the key points in a 2023 playbook from woke investment company BlackRock. Yet what is the “new regime” and what are the causes of…
Stocks Edge Higher Ahead of Last Fed Meeting of the Year
NEW YORK—Stocks are opening slightly higher on Wall Street as markets hold on to hope that the U.S. Federal Reserve is ready to ease back slightly on its campaign to slow the economy with high interest rates. The Fed’s latest decision on rates is due out later Wednesday. It’s widely expected to raise its benchmark…
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