Tag: economic policies

Fed Expects Restrictive Policy of Higher Interest Rates for Longer: FOMC Minutes

October 12, 2022
Business & Marketseconomic policieseconomyFederal ReserveFOMCinflationinterest ratesPolicies & ImpactsUS
0 Comment

The Federal Reserve will eventually slow down the pace of interest rate hikes as officials assess the cumulative effects of monetary policy adjustments, according to minutes from the September meeting of the Federal Open Market Committee (FOMC) released on Wednesday. However, the central bank reiterated its position that the Fed must adopt and maintain a restrictive…

Read More

OPEC+ Production Cut an Opportunity for Canada, US to Re-examine Their Energy Policies

October 12, 2022
Business & MarketsCanadaeconomic policiesenergyinflationOPECWorld
0 Comment

News Analysis The latest production cut announced by the OPEC+ oil cartel brings to light vulnerabilities but also opportunities in North American energy policy. Canada faces higher inflation as its dollar remains weak despite the rise in the price of oil, while the United States continues to draw on emergency resources though this is expected…

Read More

OPEC Cuts 2022, 2023 Oil Demand Growth View as Economy Slows

October 12, 2022
Business & Marketscuteconomic policieseconomyenergyEuropeglobalGold and CommoditiesinflationInternationalMarketsOilOPECrecessionWorld
0 Comment

LONDON—OPEC on Wednesday cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year’s figure, citing slowing economies, the resurgence of China’s COVID-19 containment measures and high inflation. Oil demand will increase by 2.64 million barrels per day (bpd) or 2.7 percent in 2022, the…

Read More

Putin Moots Gas Hub in Turkey With Nord Stream Supplies

October 12, 2022
Business & Marketscrisiseconomic policieseconomyenergyEuropeGasGold and CommoditiesMarketsNordstreamPutinRussiaRussia-Ukraine WarTurkeyUkraineWorld
0 Comment

MOSCOW—President Vladimir Putin said on Wednesday that Russia could redirect supplies intended for the damaged Nord Stream pipelines to the Black Sea to create a European gas hub in Turkey, or even use the one intact part of Nord Stream 2 to supply the EU. An investigation is under way into explosions last month that…

Read More

Federal Budget Deficit Shrinks to Still Eye-Popping $1.4 Trillion: CBO

October 12, 2022
Business & Marketseconomic policieseconomyFederal budget deficitinflationPolicies & ImpactstaxesUSUS News
0 Comment

The U.S. federal budget deficit was $1.4 trillion for this past fiscal year, which ended Sept. 30, according to estimates released on Oct. 11 by the Congressional Budget Office (CBO). That figure is roughly half of the nearly $2.8 trillion deficit from the prior year, marking a roughly $1.4 trillion decline, CBO said. According to the CBO, the decline was…

Read More

S&P 500, Nasdaq Open Higher After Selloff, Inflation Worries Weigh

October 12, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
0 Comment

The S&P 500 and the Nasdaq rose at the open on Wednesday, but the gains were capped by worries around the rising chances of more jumbo-sized rate hikes following a higher-than-expected rise in producer prices in September. The Dow Jones Industrial Average fell 6.1 points, or 0.02 percent, at the open to 29,233.06. The S&P…

Read More

UK Borrowing Costs Rise as Bank of England’s Bond-Buying Programme Nears End

October 12, 2022
Bank of EnglandBusiness & Marketseconomic policiesgiltsMarketsUKWorld
0 Comment

The cost of UK government borrowing rose again on Wednesday as the Bank of England (BoE) confirms it will stop buying gilts on Friday as previously announced. The 20-year gilt yield—the return investors get from UK government bonds—rose above 5 percent for the first time since Sept. 28, and the 30-year gilt yield also passed…

Read More

Secretary Yellen Defends Failure to Predict Inflation Would Rise and ‘Remain as Persistent as It Has’

October 12, 2022
Business & Marketseconomic policieseconomyinflationPolicies & ImpactsRussiaUSyellen
0 Comment

Treasury Secretary Janet Yellen on Tuesday insisted she was in “good company” in failing to forecast persistent and soaring inflation and blamed the increasing cost of living on a series of unpredictable “shocks” to the economy. Yellen made the comments during an interview with CNBC’s Sara Eisen. “I think, through a series of shocks that…

Read More

Yen Weakens to New 24 Year Low; Sterling Cautiously Rebounds

October 12, 2022
Business & Marketscryptocurrencyeconomic policieseconomyenergyForexglobalinflationMarketsrecessionstocks
0 Comment

LONDON/TOKYO—The dollar scaled new 24-year highs versus the yen on Wednesday, holding above levels that prompted intervention by Japanese officials last month, while investors in sterling were left scratching their heads about the Bank of England’s next steps. The dollar rose 0.48 percent to as much as 146.6 yen, with a fifth straight session of…

Read More

Oil Gains on Tight Supply, but Dollar Weighs

October 12, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
0 Comment

Oil futures recouped some losses on Wednesday, recovering from a 2 percent slide in the previous session, supported by supply concerns stemming from last week’s OPEC+ cut to its production target, though a stronger dollar weighed on sentiment. Brent crude futures were up 62 cents, or 0.7 percent, at $94.91 a barrel by 1120 GMT…

Read More