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Economy
The Economy Is Headed for a Hard Landing. Larry Summers on Inflation, Recession, and the
Economist Lawrence H. Summers never joined Team Transitory, or the economists, investment strategists, and members of the Federal Reserve who thought inflation would be a temporary phenomenon. Instead, he warned early and often that…
Biden gets testy, falsely claims inflation in ‘every other major industrialized country’
The Strategic Funds managing director Marc LoPresti and Circle Squared Alternative Investments CIO Jeff Sica analyze the Fed's inflation plan on 'The Claman Countdown.' President Biden appeared to get defensive when asked during a…
Social Security bill would give seniors an extra $2,400 a year. Here’s how it would work.
Seniors and other Social Security recipients in the U.S. are being hit hard by inflation, which has outpaced increases in their benefits this year. Now, some lawmakers have a plan to boost Social Security payments by $2,400 per…
Debunking 10 of Joe Biden’s lies about the state of the US economy
“Inflation is the bane of our existence,” President Biden lamented last week to talk show host Jimmy Kimmel. Unfortunately, he was referring to inflation’s effect on presidential approval ratings, not the plight…
Fed Takes Aggressive Action in Inflation Fight
The Federal Reserve took its most aggressive step yet to try to tame rapid and persistent inflation, raising interest rates by three-quarters of a percentage point on Wednesday and signaling that it is prepared to inflict economic pain…
Fed Meeting Live Updates: Investors Expect 0.75-Percentage-Point Interest Rate Rise
Italian stocks rallied and government bond yields crept still lower, as the European Central Bank pledged new support for the eurozone's fragile Southern economies.
The yield on the 10-year Italian government bond was recently at 3.775%,…
European Central Bank announces emergency meeting to discuss market rout
Christine Lagarde, President of the European Central Bank. The central bank has scheduled a last-minute meeting amid rising bond yields.Daniel Roland | Afp | Getty ImagesThe European Central Bank announced an unscheduled monetary policy…
Russia is ‘hemorrhaging’ millionaires
Almost three times as many Russian millionaires are expected to leave the country this year than in 2019, the year before the pandemic, according to a report by Henley & Partners, a company that helps wealthy clients move abroad. As…
Scoop: Biden leans toward easing some of Trump’s China tariffs
President Biden, in an Oval Office meeting last week with key members of his Cabinet, indicated he's leaning toward removing some products from the Trump administration's China tariffs list, people familiar with the matter tell Axios.Why…
U.S. inflation rate is in the middle of the pack globally
Data: Moody's Analytics, OECD and Trading Economics; Chart: Baidi Wang/AxiosInflation in the U.S. is at a 40-year high, but America isn’t alone. Soaring prices are a truly global phenomenon.The big picture: An analysis of inflation…