The Consumer Price index, which tallies the cost of a basket of goods month to month, jumped 1 percent in May compared to the 0.3 percent increase in April — a sign inflation remains red hot. Compared to one year ago, the index in May hit 8.6 percent, rising from […]
Economy
For a Smooth-Running Economy, Rule of Law Matters
AUSTIN, Texas — Countries in which courts more easily enforce contracts see less economic volatility overall than nations that don’t adhere as well to the rule of law. That’s the finding from a study by a finance researcher at The University of Texas at Austin. The research suggests that when contract […]
An Update on the Economy and Monetary Policy
06.02.22 Loretta J. Mester Philadelphia Council for Business Economics, Philadelphia, PA (via videoconference), June 2, 2022 1:00 p.m. ET (PDF ) I thank Michael Weiss and the Philadelphia Council for Business Economics (PCBE) for inviting me to speak today. It is nice […]
US economy shrank by 1.5% in Q1 but consumers kept spending
WASHINGTON (AP) — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter. Last quarter’s drop in the U.S. gross domestic […]
Main Street is convinced that a recession will hit economy this year
Main Street and Wall Street are often at a distance when it comes to the state of the economy. The likelihood of a recession hitting in 2022 is the latest example. Both camps are bearish, but small business owners are leading the way in negative sentiment — by a notable […]
Elvira Nabiullina, Head of the Central Bank, Is Guiding Russia’s Economy
“She’s well-trusted in the government and by the president,” said Sofya Donets, an economist at Renaissance Capital in Moscow who worked at the central bank from 2007 to 2019. In recent years, it was quite evident that all kinds of policy questions in the financial sphere were delegated to the […]
Growing alarm over outlook for Biden economy sparks new market rout
That alarm is reflected in the stock market’s turbulence, with the Dow Jones Industrial Average plunging more than 800 points on Tuesday and the Standard & Poor’s 500 Index dropping almost 3 percent. The Dow has fallen for four weeks in a row and the S&P 500 for three straight […]
The economic war against Russia can help Ukraine’s reconstruction | Business and Economy
The costs Russia’s invasion has inflicted on Ukraine’s economy are enormous. The World Bank warns the country’s GDP may contract as much as 45 percent in 2022. According to the Kyiv School of Economics, the direct infrastructure damage incurred due to Russia’s aggression currently stands at around $80bn. And the […]
Japan posts yawning trade gap as China exports slow | Business and Economy
The widening trade deficit highlights the vulnerability of the world’s third-largest economy to soaring import costs. Japan recorded a trade deficit in March that was more than four times wider than market forecasts, as China-bound exports slowed sharply while soaring energy prices raised the cost of imports, adding to economic […]
IMF Chief: Ukraine War and Inflation Threaten Global Economy | Business News
By PAUL WISEMAN, AP Economics Writer WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy. IMF Managing Director […]