U.S. central bankers in December will discuss whether to end their bond purchases a few months earlier than had been anticipated, Federal Reserve Chair Jerome Powell said on Tuesday, pointing to a strong economy, stalled workforce growth, and high inflation that is expected to last into mid-2022.
But the recent rise in COVID-19 cases and the emergence of the new Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation.
The euro zone is better equipped to face the economic impact of a new wave of COVID-19 infections or the Omicron variant, European Central Bank President Christine Lagarde said.
Despite the accelerated tapering calendar, Goldman expects the Fed to start raising interest rates only from June for a total of three times in 2022.
Federal Reserve officials at their meeting earlier this month expressed concern about inflation and said they would be willing to raise interest rates if prices keep rising.
Inflation in Turkey is now near 20%, meaning basic goods for Turks — a population of roughly 85 million — have soared in price and their local currency salaries are severely devalued.
President Joe Biden's decision to reappoint Federal Reserve Chair Jerome Powell arrives at a critical juncture for the central bank.
The global chip shortage could drag on till 2022 — but the situation could improve from mid-year as more supplies become available, according to Gokul Hariharan from JPMorgan.
Apple is accelerating its electric car project under Kevin Lynch Bloomberg News reported Thursday, with plans to unveil an autonomous vehicle as early as 2025.
The Biden administration has asked some of the world's largest oil consuming nations to consider releasing some of their crude reserves in a coordinated effort to lower prices and stimulate the economic recovery, according to several people familiar with the matter.
Goldman Sachs expects the S&P 500 index to rise by a more modest 9% by the end of next year, saying the record-setting rally is likely to cool on worries over slowing economic growth and the prospects of higher interest rates.
President Joe Biden signed the more than $1 trillion bipartisan infrastructure plan into law Monday.
Former President Donald Trump's family hotel company has reached a deal to sell the rights to its Washington, D.C., hotel for $375 million, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
The dollar rose on Thursday, hitting a 16-month high a day after the strongest U.S. inflation reading in more than three decades, while equities rebounded on expectations higher consumer prices will help corporate growth.
Stocks end lower for the second straight day as the Consumer Price Index surges to its highest level since 1990.
Tesla stock ended Tuesday down 11.99% after CEO Elon Musk announced over the weekend that he plans to sell 10% of his shares.
PayPal Holdings Inc beat Wall Street estimates for quarterly profit and said U.S. users of its peer-to-peer payment service Venmo would be able to pay on Amazon.com starting next year.
Musk asked his 62.7 million Twitter followers over the weekend whether he should sell 10% of his Tesla holdings.
OPEC and its allies agreed at a meeting on Thursday to stick to plans to raise oil output by 400,000 barrels per day (bpd) from December, despite calls from the United States for extra supply to cool rising prices.
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