The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance.This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic."This increase marks the second consecutive quarterly rise and was primarily driven...
Category: Economy
JPMorgan CEO Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome’
JPMorgan Chase's chairman and CEO, Jamie Dimon, says a "hard landing" for the U.S. cannot be ruled out.When asked by CNBC's Sri Jegarajah about the prospect of a hard landing, Dimon replied: "Could we actually see one? Of course, how could anyone who reads history say there's no chance?"The CEO...
The Fed probably won’t be delivering any interest rate cuts this summer
Traders work on the floor of the New York Stock Exchange during morning trading on May 24, 2024 in New York City. Michael M. Santiago | Getty ImagesInvestors likely will have to sweat out a summer during which it looks increasingly improbable that the Federal Reserve will be cutting interest rates.A...
British retail sales plunge 2.3% in April, missing estimates
People walk in the rain over the London Bridge in central London on March 12, 2024.Lucy North - Pa Images | Pa Images | Getty ImagesLONDON โ U.K. retail sales volumes dropped 2.3% in April as wet weather deterred shoppers, the Office for National Statistics said Friday.Economists polled by Reuters...
Auto insurance rates are jumping the most since the 1970s, but there could be relief soon
Rows of new Tesla cars are seen in a holding area near a customer collection point on April 15, 2024 in London, England.Leon Neal | Getty ImagesSoaring auto insurance costs have been a principle driver behind inflation over the past year, but there could be relief on the way, according...