According to new data released Thursday by the International Monetary Fund, the US dollar has maintained its dominance as the world’s most widely held reserve currency. The dollar’s share of total allocated reserves was 59 percent in the first quarter of 2022, unchanged from the fourth quarter and slightly lower… Continue reading →
Eroding wealth is affecting many people in a variety of ways, including rising inflation on goods and services, plummeting equity markets, and falling housing prices, to name a few. Governments and central banks, however, deny responsibility for the economic climate they have created, blaming Putin for higher food and energy… Continue reading →
Despite encouraging headlines about China loosening its covid policies, US stocks fell sharply from earlier highs after bleak consumer confidence data poured cold water on the month-end relief rally. That is in the range it was printing in during the 2015/16 downturn. It’s a difficult market to navigate these days:… Continue reading →
The roaring economic recoveries that followed the pandemic’s first year slowed due to supply-chain issues. The world machine is far too large and complex to restart operations in a matter of months. Slowing growth was also an unexpected occurrence. To top it all off, Russia decided to invade Ukraine, while… Continue reading →
Due to pilot shortage, American Airlines will discontinue service to some airports in Iowa, New York, and Ohio beginning in September. The services will end on September 7 at the Dubuque Regional Airport in Iowa, the Long Island MacArthur Airport and the Ithaca Tompkins International Airport in New York, and… Continue reading →
The Frankfurt-based central bank stated in a report released on Tuesday that it does not think the area will experience stagflation, which occurs when high inflation is combined with slow economic growth and high unemployment, like it did in the 1970s. Stagflation, according to the ECB, is defined as inflation… Continue reading →
In Canada, inflation reached levels not seen since 1983 in May. We believe that the CPI data make a 75 basis point interest rate hike at the next meeting a near inevitability, with rates peaking at more than 2.75 percent. There was no relief in May for those of us… Continue reading →
Financial markets have taken a significant hit in the last week as a result of high inflation figures and an expected interest rate hike by the US Federal Reserve, raising fears of a recession. On Monday, June 13, U.S. stocks entered bear market territory, with the S&P 500, Wall Street’s… Continue reading →
According to the New York Times, employees at an Apple store in the Baltimore area have voted to unionize, making it the first of the company’s 270-plus stores in the United States to join a labor organizing trend sweeping through retailers, restaurants, and technology companies. The outcome, announced by the… Continue reading →
Dow drops 800 points, dropping below 30,000 for the first time in more than a year. The Dow Jones Industrial Average fell below 30,000 on Thursday, as investors worried that the Federal Reserve’s more aggressive approach to inflation might send the economy into a recession. The Dow had rallied on… Continue reading →
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