WASHINGTON — President Biden signed into law a landmark tax, health and energy bill on Tuesday that takes significant steps toward fulfilling his goal to modernize the American economy and reduce its dependence on fossil fuels. The vast legislation will lower prescription drug costs for seniors on Medicare, extend federal subsidies for health insurance and...Read More

At 1557 GMT, the rand traded at 16.4050 against the dollar, up 0.33% from its previous close. The rand fell around 1.6% against the dollar on Monday in risk-off trade. The rand tends to take its cue from overseas drivers in the absence of major domestic economic data. On global markets, the safe-haven U.S. dollar...Read More

European stocks edge up 0.1% on mining sector Markets overall subdued amid China growth fears Dollar gains as investors seek safety SINGAPORE/LONDON, Aug 16 (Reuters) – Stock markets struggled for direction on Tuesday as they grappled with worries over global growth, following weak Chinese and U.S. economic data that knocked oil prices and commodity-linked currencies....Read More

The IRA and Competitiveness Kent HughesWilson Center Public Policy Fellow The IRA takes several steps to make America competitive in the world of green energy.  By relying on incentives rather than regulations, companies will be able to use the best available technology rather than being locked into today’s innovations. The IRA also incentivizes use of...Read More

Argentina’s annual inflation rate soared past 70 percent in July—the highest level in three decades—according to data released by the Argentine government last week, and it could hit 90 percent by the end of the year. The runaway inflation has left many in the country mired as they turn to barter and parallel currency markets...Read More

U.S. 100 dollar notes are seen at a bank in this picture illustration in Seoul. REUTERS/Lee Jae-Won Register now for FREE unlimited access to Reuters.com Register ORLANDO, Fla., Aug 15 (Reuters) – Hedge funds slashed their long dollar positions and bet harder on a flatter yield curve, two macro trades that have come up trumps....Read More

MARKET WRAPS Watch For: Germany WPI; updates from Henkel, Pandora Opening Call: Europe should open higher, with traders likely to take heart from Wall Street’s hefty gains on Friday, buoyed by signs of easing inflation and improving consumer sentiment. In Asia, major stock benchmarks were mixed; the dollar strengthened further; while Treasury yields, oil and...Read More

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Australia will return to 25-basis point interest-rate increases, veteran economist Saul Eslake said, rejecting a consensus that maintains further outsized moves are needed to slow inflation. Read more…Read More

The mass exodus sparked by the August 2021 Taliban takeover compelled Afghanistan’s new rulers to issue a call for Afghans to stay and help rebuild the country. But after a year of Taliban rule, the economy is in tatters, confidence has been shattered, and Afghanistan’s best and brightest are not returning – they’re fleeing in droves. ...Read More

liulolo/iStock via Getty Images The rising U.S. dollar is pushing inflation up in many third-world and developing countries. It is leading to escalating commodity prices as most imported goods are paid for in dollars, with the situation being exacerbated by historically high oil prices. The unfortunate events in Sri Lanka where people took to the...Read More