Iron Mountain CEO William Meaney ‘prays for inflation’

The CEO of a Boston-based tech company told investors he has “prayed for inflation” because it’s good for his business, according to a report. William Meaney, CEO of data storage and management company Iron Mountain, told Wall Street analysts last week that high prices are boosting the company’s margins. by the news site The Intercept. … Read more

Stanley Druckenmiller sees ‘hard landing’ in 2023 with possible deeper recession than many expect

Billionaire investor Stanley Druckenmiller believes the Federal Reserve’s attempt to quickly resolve the excesses it has built up over a decade with accommodative monetary policy will not end well for the US economy. “Our pivotal case is a hard landing towards the end of ’23,” Druckenmiller said Wednesday at CNBC’s Delivering Alpha Investor Summit in … 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

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

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

2-Year Treasury surpasses 4.2%, 15-year high as Fed drives up short-term rates

Yields moved higher on Friday, with the 2-year Treasury yield reaching a new 15-year high as markets assessed the latest Federal Reserve rate hike and what it means for the economy going forward. The policy-sensitive 2-year Treasury hovered above 4.2%, reaching a 15-year high of 4.266% earlier in the session. It last gained 12 basis … 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

Fed hike, Bank of Japan, interest rates, currencies

Japanese Yen Strengthens Amid Reports Of Official Announcement Of FX Intervention The Japanese yen rose more than 2% against the dollar on reports from officials announcing immediate intervention to defend the currency. That comes after the yen weakened to 145 levels against the greenback, following the Bank of Japan’s decision to keep interest rates stable. … Read more

Swiss central bank raises interest rates as inflationary pressures hit hard

Swiss National Bank (SNB), the central bank of Switzerland. COFFRINI FABRICS | AFP | Getty Images The Swiss National Bank on Thursday raised its benchmark interest rate to 0.5%, a shift that will end an era of negative interest rates in Europe. The 75 basis point hike follows a rise to -0.25% on June 16, … Read more