The Bank of England (BoE) and European Central Bank (ECB) made it clear their view of inflation is not as sunny as the U.S. Federal Reserve’s chair Jerome Powell expressed last week.
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EMERGING NATIONS BUCKLING UNDER DEBT LOAD, WORLD BANK WARNS
The past year’s surge in interest rates has piled record amounts of debt onto poor nations, depriving them of money needed to invest in education, healthcare, infrastructure, and other essential building blocks they need to rise out of poverty, the World Bank said in a report last week.
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CORPORATE BANKRUPTCIES RISE BY DOUBLE DIGITS
In advanced economies, business failures are climbing at a double-digit rate compared to last year as governments’ $10-trillion COVID-era support programs end and central banks’ high interest rates continue, the Financial Times reported.
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RENTERS GETTING CHRISTMAS GIFTS FROM EAGER LANDLORDS
From 2020 through much of this year, residential rents were climbing steeply, in some markets by double digits each year, with potential tenants—sometimes numbering 40 or more—bidding against each other for the same home.
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STORE SIZES SHRINKING, DEMAND FOR RETAIL SPACE GROWING
The average retail store is now the smallest since at least 2006, according to data service CoStar. At the same time, demand for retail space is its strongest in 18 years, with the national vacancy rate a scant 4.8 percent in this year’s third quarter, according to retail estate services firm CBRE.
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LAYOFFS MOUNTING: ALMOST 40 PERCENT OF COMPANIES WILL CUT STAFF IN 2024
Almost 40 percent of U.S. companies will cut their workforces in the new year, according to a poll of 906 executives by Resumé Builders, with even more imposing a hiring freeze.
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FED HOLDS RATES STEADY, PROJECTS THREE CUTS IN 2024
At its mid-December meeting, the U.S. Federal Reserve’s Open Market Committee not only froze interest rates at their current levels, but also said it expects to make three quarter-point rate cuts next year and drop rates by a full point in 2025.
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AS FORECAST: AMERICANS’ PHYSICAL HEALTH DECLINES AFTER COVID-19 LOCKDOWNS
Remember when your local “health official” closed schools and gyms, but kept open liquor stores in the name of “stopping the spread” of COVID-19?
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AS FORECAST: MILLENNIAL WOMEN SEE FIRST DECLINE IN WELL-BEING IN GENERATIONS
The Population Reference Bureau released its latest index of women’s well-being in the U.S. and found that millennials are the first generation since the Silent Generation to see an overall decline in their overall status.
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PRESIDENTIAL REALITY SHOW: CHOOSE THE CANDIDATE YOU HATE THE LEAST IN 2024
A newly released poll found that Americans will be heading to polling stations next year and holding their noses when they select the next president of the U.S.: President Joe Biden or Donald Trump.