The temporary reduction in the value added tax and the sharp decline in mineral-oil product prices also had an upward effect on the overall inflation rate.
After the Wall Street Journal reported that Microsoft is close to a deal to buy Activision Blizzard, shares of Activision Blizzard Inc. ($ATVI) jumped about 37% in pre-market trade Tuesday.
Rogoff predicted, since policymakers at the Federal Reserve must balance the need to stop runaway inflation by raising interest rates while at the same time avoiding a recession, they will probably be “cautious” and will not drastically raise rates.
The surge of infections caused by the omicron COVID-19 variant may slow growth over the next several months and prolong supply chain challenges, but the U.S. economy should return to a stronger trajectory after the wave passes, New York Federal Reserve Bank President John Williams said Friday.
This milestone makes Ford more valuable than two of its rivals, General Motors and Rivian.
Central banks' interest rate hikes aimed at combating inflation could exacerbate a deepening, "dangerous divergence" between advanced and developing economies, International Monetary Fund Managing Director Kristalina Georgieva said Wednesday.
World Bank President David Malpass said on Tuesday that central banks should reduce long-term bond holdings rather than shrinking short-term assets, as this would free up more bank capital for small business loans and could help tame inflation.
Federal Reserve Board Vice Chair Richard Clarida will resign on Jan. 14, the U.S. central bank said on Monday, ending a term began in 2018 as second-in-commend to Fed Chair Jerome Powell.
Venezuela's annual inflation rate hit 686.4% in 2021, demonstrating a deceleration of consumer price growth versus the previous year when inflation was 2,959.8%, the country's central bank said on Saturday.
The Euro has avoided turmoil this week as a hawkish Fed lifted the US Dollar, but energy concerns may have a role to play. Will EUR/USD breakout？
Former President Donald Trump's new media venture plans to launch its social media app Truth Social on Feb. 21, according to an Apple Inc. App Store listing.
Policymakers agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022.
Tesla's market valuation is now $1.2 trillion.
Apple became the first U.S. company to hit a $1 trillion market cap during intraday trading on Aug. 2, 2018. It hit a $2 trillion valuation just over two years later on Aug. 19, 2020.
Cross-asset fundamental and technical forecasts that will help traders navigate major markets in Q1 2022.
Spanish consumer prices in December rose 6.7% from the same month last year, the fastest annual pace of inflation since 1989, flash data from the National Statistics Institute (INE) showed on Thursday.
The United States trade gap reached $97.8 billion in November, up from a revised $83.2 billion in October, according to the Commerce Department.
Former Treasury Secretary Larry Summers asserted on Sunday that the antitrust program by President Joe Biden to combat inflation was a form of ''science denial.''
U.S. holiday season retail sales rose 8.5% from Nov. 1 to Dec. 24, powered by an ecommerce boom, according to a Mastercard Inc report, which helped the S&P 500 retailing index gain on the session.
The world's economic output will exceed $100 trillion for the first time next year and it will take China a little longer than previously thought to overtake the United States as the No.1 economy, a report showed on Sunday.
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