inflation

Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies

A money changer holds Turkish lira and US dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it …

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US recession this year is more likely than not: Nomura analysts

The US economy is more likely than not to sink into a recession this year as the Federal Reserve tightens monetary policy in its bid to cool decades-high inflation, economists warned Monday. “Disruptions in the energy and food sectors, coupled with declining consumer sentiment, are contributing to a looming economic slowdown in the US and …

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Here are three things the Fed’s done wrong, and what’s still not right

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from …

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100 bps rate hike is ‘medicine to stop this inflation’

Wharton’s Jeremy Siegel is calling for a 100 basis point rate hikeand says markets may be “close to the bottom.” A 100 basis point rate hike by the Federal Reserve on Wednesday will be “medicine to stop this inflation,” the Wharton professor of finance at the University of Pennsylvania told CNBC on Wednesday. “The Fed …

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Inflation augurs record 2023 Social Security cost-of-living adjustment

Picture Source | Getty Images New government inflation data came in hotter than expected last week. If record-high prices don’t subsidize, that will lead to a higher Social Security cost-of-living adjustment in 2023. Yet even with a more generous boost to benefits next year, there’s a growing campaign to change the way those annual benefit …

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Markets are now bracing for the possibility of bigger Fed interest rate hikes ahead

As inflation climbs to new 40-year highs, expectations for interest rate increases from the Federal Reserve are escalating as well. With the rate-setting Federal Open Market Committee scheduled to hold a policy meeting this week, markets are ramping up their bets on the way things will go, particularly in the months ahead. There’s still about …

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Dow sinks sharply as Wall Street worries about drastic action from the Fed

New York CNN Business — US stocks plunged into bear market territory Monday morning as Wall Street investors grew increasingly nervous about the prospect of even more harsh medicine from the Fed to take the sting out of inflation. The Dow (UNDUE) sank 825 points, or 2.7%, and the Nasdaq fell 4.3%. The broader S&P …

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Inflation hammers New Yorkers as consumer prices surge to 40-year high

Eye-popping price increases are forcing New Yorkers to cut back on their spending — and even go into debt — amid inflation rates that hit a 40-year-high Friday. The latest monthly figures from the US Bureau of Labor Statistics show that the average price of all consumer goods surged 8.6% during the 12 months that …

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