Peter Dutton warns US recession is inevitable

Opposition leader Peter Dutton has stated that the US will enter a recession, and “this prime minister knows what is coming”. The big call comes as treasurer Jim Chalmers prepares to transfer his first budget next month, which he says will be a “bread and butter” effort to curb inflation. The opposition is warning him … Read more

US Federal Reserve Decision Could Cause a Recession: Motley Fool, Stephen Jones

Australians are being told they are “preparing” for further financial pain, including a potential recession, after the US Federal Reserve raised interest rates to the highest levels since the global financial crisis. The central bank raised the country’s cash interest rate by three-quarters of a percentage point to 3.25 percent, and said further rate hikes … Read more

Inflation: Australian credit card spending could rock RBA’s economic plan

In recent years, the Australian people have had quite the love affair with their credit cards, with credit card purchases reaching a record high of 20 percent of GDP in 2008. Since then, Australians have gradually moved away from credit cards, reduced their outstanding balances and increasingly took advantage of various rewards programs rather than … Read more

Inflation explained: how livelihood pressures could worsen in Australia in 2022?

Over the past 12 months, Australians have received quite a bit of education about inflation, with the headline CPI recently hitting 6.1 percent. After more than a decade of largely dormant inflation in relative terms, recent cost-of-living pressures have blinded households and even the experts at places like the Reserve Bank (RBA). As inflationary pressures … Read more

US plunges into recession | news.com.au — Australia’s premier news site

The US has unofficially plunged into recession after the economy shrank for the second quarter in a row. Gross domestic product fell 0.9 percent year-on-year in the second quarter, following a larger decline in the first three months of the year, the Commerce Department said. Two-quarters of negative growth is widely seen as a strong … Read more

Interest rates: RBA analysis shows mortgages could rise by 60 percent

Last October, I explored the possibility that the Reserve Bank of Australia (RBA) could be forced to raise interest rates to fuel rising inflation. When I compared them to the old Looney Tunes character Wile E. Coyote, I speculated that the RBA might be forced to furiously chase inflation the same way Wile E. chased … Read more