Tag: economic policies

Home Prices Suddenly Jump After 7 Months Of Declines

April 3, 2023
Business & Marketseconomic policieseconomyhousing marketinflationInvestmentMarketspersonal financereal estateU.S. home pricesUS Real Estate
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U.S. home prices have suddenly jumped after seven months of declines, according to a recent report. Home prices rose 0.16 percent nationally in February compared to January, when adjusted for seasonality, according to Black Knight’s latest Mortgage Monitor Report from April 3. This was the first monthly increase after seven months of declining housing costs. A…

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Federal Reserve Making Worst ‘Policy Mistake in Several Decades’, Top Economist Warns

April 3, 2023
Business & Marketseconomic policieseconomyFederal Reserveinflationjerome powellMarketsMohamed El-ErianrecessionUSUS News
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The Federal Reserve’s year-long aggressive monetary tightening efforts could turn out to be one of the most significant policy errors in the last several decades, according to renowned economist Mohamed El-Erian. El-Erian shared excerpts from the Peterson Institute for International Economics (PIIE) and the Financial Times that reinforced his view that the U.S. central bank…

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Biden Promotes Economic Agenda in Minnesota Ahead of Likely 2024 Announcement

April 3, 2023
bidenBusiness & Marketseconomic agendaeconomic policieseconomyExecutive BranchMinnesotaPoliticsUS
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President Joe Biden traveled to Minneapolis, Minnesota, on Monday as part of his administration’s “Investing in America” tour to promote his economic agenda ahead of a potential reelection announcement. The president visited Cummins, an engine manufacturer that recently announced a $1 billion investment to upgrade its plants in North Carolina, Indiana, and New York, a…

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Swiss Prosecutors Probe Credit Suisse Ahead of UBS Takeover

April 3, 2023
Business & MarketsCompaniesCredit Suisseeconomic policieseconomyEuropeMarketsprobeSwitzerlandUBSWorld
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GENEVA—The Swiss attorney general’s office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS. Switzerland’s government and financial regulators helped engineer the hastily arranged, $3.25 billion agreement that was aimed in part to help calm worries about the global financial system…

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Wall Street Opens Lower as Oil Output Cut Reignites Inflation Worries

April 3, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened lower on Monday after a surge in oil prices brought back inflation worries, bolstering bets that the U.S. Federal Reserve will deliver another interest rate hike at its next meeting. The Dow Jones Industrial Average fell 28.37 points, or 0.09 percent, at the open to 33,245.78. The S&P 500 opened…

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Nine Months of Monetary Restraint: What’s Next?

April 3, 2023
Business & MarketsBusiness Columnistseconomic policieseconomyFedinflationMonetaryPolicyratesRestraintUSUS News
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Commentary Faced with the highest inflation in 40 years, the Federal Reserve decided a year ago to adopt a restrictive monetary policy. Although there is widespread agreement monetary policy has turned restrictive, it is less clear just how restrictive monetary policy has been and what effect it will have on the economy and inflation. Measuring…

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Dollar Gains as Surprise OPEC+ Cut Adds to Inflation Conundrum

April 3, 2023
Business & Marketscryptocurrencyeconomic policieseconomyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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SINGAPORE/LONDON—The dollar rose against other major currencies on Monday as fears over inflation resurfaced after a surprise announcement by major oil producers to cut production targets further, with traders wagering the Federal Reserve may need to increase interest rates again at its next meeting. The announcement on Sunday by the Organization of the Petroleum Exporting…

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Oil Prices Surge, Fed Rate Path in Question Again

April 3, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SYDNEY/LONDON—Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise cut in their output target, a move that rippled through stock markets and boosted the dollar due to reinvigorated fears about the stickiness of global inflation. Brent oil futures looked set for its biggest daily percentage gain in around a…

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OPEC+ Pledges Major Oil Output Cuts From May to Year-End

April 2, 2023
Business & Marketseconomic policiesenergyInternationalMiddle EastOilRussiaSaudi ArabiaWorld
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Saudi Arabia and other members of the oil-producing group OPEC+ announced Sunday that they will be cutting their output by about 1.15 million barrels per day (bpd), a move expected to cause an immediate rise in prices. According to its state news agency, Saudi Arabia will voluntarily cut its oil production by 500,000 bpd from…

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OPEC+ Pledges Major Oil Output Cuts From May to Year’s End

April 2, 2023
Business & Marketseconomic policiesenergyInternationalMiddle EastOilRussiaSaudi ArabiaWorld
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Saudi Arabia and other members of the oil-producing group OPEC+ announced on April 2 that they will be cutting their output by about 1.15 million barrels per day (bpd), a move expected to cause an immediate rise in prices. According to its state news agency, Saudi Arabia will voluntarily cut its oil production by 500,000…

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