The US Dollar Index (DXY) continues its parabolic rise. While it increased by 3% this week, commentators are asking when and at what level the dominance of the US currency will end. The strong dollar translates into a weak performance of other global currencies, traditional markets, and cryptocurrencies. The Federal Reserve (Fed) continues its policy...Read More
Impact of latest interest rate hike on U.S. economy and Americans – CBS News Watch CBS News CBS News chief foreign affairs correspondent Margaret Brennan joined CBS News’ Catherine Herridge to discuss this week’s edition of “Face the Nation.” They break down the Federal Reserve’s latest interest rate hike and preview an upcoming exclusive interview...Read More
Photo-Illustration: Intelligencer; Photo: Getty Images For a while this summer, the global economy seemed to have paused its monthslong decline, bucking the prognostications that we were entering a recession and even spurring markets upward during a monthlong retread of last year’s memestonk zaniness. Friday, though, all hell seemed to break loose. Stock markets in the...Read More
British pound drops 2.8% against dollar The British pound continued to fall into Friday afternoon, dropping as much as 2.8% against the dollar. It was trading at $1.0941 at 3:45 p.m. in London, as analysts said the prospect of reaching dollar parity was certainly on the table. Investors appear to have been “spooked” by the...Read More
Recognizing that high inflation will not quietly go away, the world’s major central banks are toughening their policies. Gradualism has given way to super-sized interest rate increases and a clearer resolve to restrain actual and expected inflation, despite adverse economic consequences. The more hawkish rhetoric and policy actions have unsettled financial markets, driving up...Read More
COMPOUNDING INTERESTS — Small businesses are worried about inflation, supply chain problems and hiring enough employees, according to a new survey. But even as they pledge to help, the gubernatorial candidates’ plans only address those issues in broad strokes. Seventy-four percent of small businesses are worried about inflation driving up their operating costs and 61...Read More
The Indian Rupee hit a lifetime low level of 80.43 on Thursday after US Fed’s decision to hike interest rate by 75 basis points yet again. The domestic currency opened at a record low of 80.2850 per US dollar, down from the previous close of 79.97. The Fed on Wednesday raised rates by 75 bps,...Read More
With broad bipartisan support, the Senate on Wednesday ratified by a 69-27 vote a global treaty that would sharply limit the emissions of super-pollutants that frequently leak from air conditioners and other types of refrigeration. The treaty — known as the Kigali Amendment to the 1987 Montreal Protocol — compels countries to phase out the...Read More
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