Former Treasury Secretary Larry Summers dismissed concerns about the dollar losing its dominance in the global economy, citing China’s limitations in offering an alternative reserve currency. China’s recent capital outflows…
Tag: economy
Gen-X Bankers Warn Gen-Z Content Creators: Don’t Give Up Your Day Job – The Stark Reality of the Creator Economy
Two papers from Goldman Sachs and Citigroup examine the present and potential of the global creator economy. According to both studies, the creator economy is an ecosystem in which people…
Canadians Struggle with Rising Prices as Retail Sales Decline Amid Inflation and High Interest Rates
As a result of high inflation and interest rates, Canadians consumers are reducing their expenditure, which is having a negative impact on retail sales. In February, retail sales decreased 0.2%…
Fed warns of impending recession due to banking crisis
FED warns of an upcoming recession due to fallout from the U.S. banking crisis, with projections indicating GDP growth of just 0.4% for 2023. Despite inflation data being mostly cooperative with the Fed’s aims, officials have expressed concerns over broader economic conditions, with some members leaning towards a half-point rate rise before the banking problems. Markets currently estimate a 72% chance of one more quarter percentage point rate hike in May before a policy pivot where the Fed cuts before year-end.
UK Future Fund ‘s Millions Wasted on Failed Firms
Rishi Sunak’s Future Fund, a loan scheme designed to help dynamic start-ups survive the Covid-19 pandemic, has been criticised for funding firms that were not fast-growing and ended up being a drain on taxpayers.
Chancellor declares Britain’s economy ‘back’ despite recent setbacks
Chancellor Jeremy Hunt says Britain’s economy is “back” and his growth strategy is praised, but IMF predicts a 0.3% shrink in 2023.
Diesel Demand Drop Signals Recession: US, China and Europe Hit as Economies Falter
Diesel demand weakens in major economies, signaling reduced industrial activity and consumer spending amid concerns of an impending recession.
Silicon Valley Bank’s Failure Could Devastate America’s Banking System
Federal bailout saved Silicon Valley Bank from collapse, preventing potential havoc on economy. Critics argue the banking system’s vulnerabilities remain.
California ‘s Economy: Tech Layoffs Cause $22.5 Billion Deficit
California’s economy suffers as key industries such as tech and entertainment struggle due to high interest rates, labor unrest, and investor concerns. The state faces a deficit and potential economic problems.