Fed’s Barkin: Inflation still ‘stubbornly high’ and isn’t easing fast enough toward 2% target
Inflation remains “stubbornly high” and is no longer making much progress toward the Federal Reserve’s 2% target, a top Fed official said Wednesday, hours after...
Cost of insuring against U.S. default rises to highest since 2009
LONDON, May 11 (Reuters) – The cost of insuring against a U.S. default rose to its highest since early 2009 on Thursday, in the latest...
US default would make Cyclone Roller Coaster ‘look like a kiddie ride’
Yesterday the SEC’s chair Gary Gensler spoke at ISDA’s annual meeting in Chicago. The main topic was the regulator’s plans to overhaul the Treasury market,...
US debt standoff overshadows G7 finance leaders’ meeting
Japan says G7 may discuss U.S. debt crisis, ready to respond Biden warns of U.S. recession unless ceiling raised quickly G7 to debate ways to...
Repeat Bankruptcies Are Piling Up at Fastest Rate Since 2009
(Bloomberg) — In October 2020, Akorn Operating Company LLC announced its emergence from Chapter 11 bankruptcy as the beginning of “an exciting new chapter.” Most...
Global Finance Chiefs to Plot Escape Routes for World Economy
(Bloomberg) — A summer laced with economic strains looms for the world’s richest economies. Most Read from Bloomberg In the US, President Joe Biden and...
Job Market Cracks: Initial Claims Unexpectedly Soar To The Highest Since October 2021
And just like that, the job market has finally cracked. One week after the latest JOLTS report confirmed the sharp deterioration in US jobs as...
Gold demand surges amid jitters
Buyers flock to safety amid uncertainty The World Gold Council says central bank purchases of gold should continue throughout the year. Global demand for gold...
Stocks slip as US consumer confidence slumps, dollar gains
[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 11, 2023. REUTERS/Brendan McDermid US consumer...
Friday’s debt-ceiling meeting at the White House postponed
Friday’s debt-ceiling meeting between President Joe Biden and House Speaker Kevin McCarthy has been postponed until next week to give the staff more time. A...