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Economy
Didi revenue falls as China’s regulatory crackdown hits business
A sign of Chinese ride-hailing service Didi is seen on its headquarters in Beijing, China July 5, 2021. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comRegisterDec 29 (Reuters) - China's ride-hailing firm Didi…
Kudlow: The only way to whip inflation is by abandoning the progressive agenda
FOX business host shreds the Biden administration over the state of the economy on 'Kudlow.' So, we begin tonight with the front page of the New York Post. That kind of says it all. Take a look… "Joe's Train Wreck" — "gas hits a…
Japan’s record $940 bln budget may help COVID-hit economy, fiscal discipline in doubt
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Japanese Prime Minister Fumio Kishida's cabinet approved on Friday a record $940 billion budget for the next fiscal year as COVID-19 responses added to the costs of supporting an aging…
‘There is no money left’: Covid crisis leaves Sri Lanka on brink of bankruptcy
Sri Lanka is facing a deepening financial and humanitarian crisis with fears it could go bankrupt in 2022 as inflation rises to record levels, food prices rocket and its coffers run dry.The meltdown faced by the government, led by the…
Opinion | Fighting Inflation Means Taking On Corporations
They all spoke out against efforts by William McChesney Martin, the Fed chairman, to raise interest rates. Martin famously asserted his independence and raised rates anyway; as he saw it, the job of the Federal Reserve was “to take away…
Analysis: Modi’s farm reform reversal to deter investment in India’s agriculture
NEW DELHI, Dec 5 (Reuters) - India's repeal of agriculture laws aimed at deregulating produce markets will starve its vast farm sector of much-needed private investment and saddle the government with budget-sapping subsidies for years,…
Fed charts faster course away from unprecedented stimulus
The Federal Reserve is pivoting hard from a patient approach to pulling back support for the U.S. economy. Fed officials on Wednesday charted a much faster return from the unprecedented stimulus they deployed at the onset of the…
My “Wealth Effect Monitor” & “Wealth Disparity Monitor” for the Fed’s Money-Printer
Billionaires got more billions, bottom half of Americans got peanuts and inflation.
By Wolf Richter for WOLF STREET.
My “Wealth Effect Monitor” uses the data that the Fed releases quarterly about the wealth of households. The…
So no one’s going to Davos: our guide to the big issues that won’t be tackled
The purpose of this column is usually fairly clear: to look ahead at the biggest event in the coming week. But this time we are breaking with tradition to bring you the week’s biggest non-event: Davos.Every year the great and the good…
Economic and racial inequalities are ‘long haul’ issues for the Federal Reserve
The Federal Reserve says it can only do so much to address earnings and wealth disparities, but feels an obligation to at least research the economic implications of uneven economic outcomes in the U.S.The Fed’s own statistics confirm…