Is a Global Recession Coming? More experts sound the alarm | Business and Economy

Kuala Lumpur, Malaysia – Having started off as a murmur early in the year, warnings of an impending global recession are getting louder by the day. Over the past week, high-profile figures from the head of the World Trade Organization (WTO) to US Nobel Prize-winning economist Paul Krugman have sounded the alarm about the likelihood … Read more

Annual inflation was 6.8 percent in August, says the Bureau of Statistics

Australia registered an annual inflation rate of 6.8 percent in August, up from 7 percent in July, according to brand new data from the Bureau of Statistics. Most important points: New data shows that annual inflation fell slightly between July and August The Bureau of Statistics will report monthly inflation data from October The new … Read more

Prices for these staple items are rising even more in Canada, but for a new reason

While most Canadians have been financially overstretched in recent months, prices for many more basic household necessities are about to climb even higher, but not just because of inflation rates (which are finally starting to slow their upward trajectory, but still more than double the long-term average). Experts are now warning that the depreciating value … Read more

Consumers are becoming more optimistic about the US economy

CNN — Consumer confidence rose for the second month in a row in September, as moderating gas prices and hoping that inflationary pressures could ease helped improve the collective mood of the nation. The Conference Board reported Tuesday that the baseline index rose to 108 from a revised 103.6 in August, the highest since April. … Read more

Fed’s Evans nervous about going too far and too fast with rate hikes

Charles Evans, president of the Federal Reserve of Chicago, says he is concerned that the US central bank is raising interest rates too quickly in its efforts to tackle runaway inflation. Speaking to CNBC’s “Squawk Box Europe” on Tuesday, Evans said he remains “cautiously optimistic” that the US economy can avoid a recession – provided … Read more

OECD expects Reserve Bank of Australia to raise cash interest rate to 3.6 percent

The Paris-based OECD expects Australian interest rates to reach an 11-year high of 3.6 percent in 2023 as inflationary pressures worsen. The international financial experts are even more concerned about rising interest rates than three of the Australian Big Four banks. Australian home borrowers have endured five consecutive monthly hikes since May, pushing the cash … Read more

‘A deep and severe recession is coming’ as the ‘aggressive’ Fed continues to tighten – Ronald-Peter Stoeferle

A severe recession could set in if the Federal Reserve continues to tighten and the dollar strengthens, said Ronald-Peter Stoeferle, Managing Director at Incrementum AG. “We’re seeing a very aggressive Federal Reserve now,” he said. “In addition, we are seeing a quantitative tightening begin, at $95 billion per month [of assets … Read more

Chrystia Freeland has $20 billion to spend. This is what she shouldn’t do with it

If, like Treasury Secretary Chrystia Freeland, you suddenly had a few billion dollars extra on your doorstep, what would you do with it? Rather not what the UK is doing now under the guise of fighting inflation. The newly appointed British Chancellor of the Exchequer, Kwasi Kwarteng, presented a mini-budget last week that immediately plunged … Read more

Elon Musk says it’s ‘clearly correct’ that the Fed is fueling the US economy

Billionaire Elon Musk backed a prominent Wharton economist who accused the Federal Reserve and its chairman Jerome Powell of completely screwing up their response to the current economic slump. Musk responded to a fiery rant from Wharton professor Jeremy Siegel, who told CNBC’s “Halftime Report” Friday that the Fed’s current policy path is “way too … 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