‘The Fed Is Breaking Things Up’ – Here’s What Is Putting Wall Street On The Edge As Risks Grow Across The Globe

Jerome Powell, chairman of the US Federal Reserve, at a Fed Listens event in Washington, DC, US, on Friday, September 23, 2022. Al Drago | Bloomberg | Getty Images As the Federal Reserve ramps up its efforts to tame inflation, sending the dollar soaring and sending bonds and stocks into a tailspin, concerns are mounting … Read more

Fed Vice-President Brainard Warns Against Early Withdrawal From Inflation Battle

US Federal Reserve board member Lael Brainard speaks after being nominated by US President Joe Biden as vice chairman of the Federal Reserve, in the South Court Auditorium of the Eisenhower Executive Office Building in the White House in Washington, US, on 22 Nov 2021. Kevin Lamarque | Reuters Vice Chairman of the Federal Reserve, … Read more

Erdogan says Turkey will continue to cut interest rates, mocking the British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting in parliament in Ankara, Turkey, May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE IS PROVIDED BY A THIRD PARTY SIDE. NO RESALE. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar Reuters Turkey will continue to cut interest rates, its … Read more

Larry Summers denounces the UK’s ‘utterly irresponsible’ tax policy

Larry Summers Cameron Costa | CNBC LONDON – Former US Treasury Secretary Larry Summers warned on Tuesday that the UK has lost its sovereign credibility after the new administration’s fiscal policies sent markets into a tailspin. The British pound hit an all-time low against the dollar in the early hours of Monday morning before recovering … Read more

The ‘real cure’ for inflation has been ignored, says Steve Forbes

The British pound plunged to a record low in Asia on Monday morning, following last week’s announcement by the new British government that it would implement tax cuts and investment incentives to boost growth. By focusing on raising interest rates to cool inflation, central banks and governments have overlooked the importance of maintaining stable currencies, … Read more

From the Fed to the currency crisis in Europe, here’s what’s behind this sell-off in the financial markets:

Trader on the floor of the NYSE, June 7, 2022. Source: NYSE Stocks fell sharply, bond yields rose and the dollar strengthened Friday as investors heeded the Federal Reserve’s signal that the battle with inflation could lead to much higher interest rates and a recession. The sell-off was global on Friday, in a week in … Read more

British pound drops below $1.11 after new economic reforms

Sterling hit its lowest level since July 1, 2020. Matt Cardy | Getty Images The controversial British pound fell 1.95% against the dollar on Friday after the new British government announced a radical economic plan to boost growth. The pound fell to $1.1032 at noon London time, about an hour after the measures were unveiled … Read more

Turkey cuts interest rates again as country struggles with inflation

The number of Russian tourists to Europe dropped dramatically during the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa images | Light rocket | Getty Images Turkey’s central bank surprised markets again with its decision Thursday to cut its key interest rate, despite inflation in the country soaring above … Read more

What to expect at the next Bank of Japan (BOJ) meeting as the yen falls?

The Japanese yen is hovering close to its weakest level since 1998, and authorities have suggested taking action to stem the currency’s decline. Ahead of the Bank of Japan’s rate decision later this week, CNBC is looking at whether Japan’s central bank could move away from its ultra-easy monetary policy as the Federal Reserve maintains … Read more

Turkey’s skyrocketing inflation threatens more losses for Gulf banks

General view of Emirates NBD Bank on January 3, 2017 in Dubai, United Arab Emirates. Tom Dulat | Getty Images DUBAI, United Arab Emirates — Banks with exposure to Turkey have suffered losses since the country’s currency began to depreciate sharply in 2018; now lenders in several oil-rich Gulf states will be hit in the … Read more