The Bank of England (BoE) has warned that Great Britain will fall into a “very challenging” two-year recession, during which real incomes will decline and unemployment will double to about 6.5 percent before 2025.
Author: admin (Kendrick Williams)
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MILD RECESSION WILL NOT CONTROL INFLATION, LAGARDE WARNS
A recession in Europe brought on by painfully high energy prices and soaring food costs will not have a significant impact on the 19-country Eurozone’s inflation rate, Christine Lagarde, president of the European Central Bank (ECB), said last week in comments quoted by Bloomberg.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
DRAGFLATION, slower economic growth and rising inflation, plus rising interest rate hikes are causing companies in many sectors to lay off employees.
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HOUSING MARKET MIGRANTS MOVE FARTHER FROM HOME
People who relocated during the 12 months ending 30 June moved a median distance of 50 miles from their previous residence, according to a National Association of Realtors (NAR) survey of 4,850 home buyers.
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CONSUMER CONFIDENCE IN HOUSING MARKET SINKS TO NEW LOW
In October, only 16 percent of consumers said they think now is a good time to buy a home, a monthly survey by the Federal Home Loan Mortgage Corp. (Fannie Mae) found.
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STRONG JOBS REPORT FUELS FEARS OF ANOTHER SHARP FED RATE HIKE
In October, U.S. businesses took on another 261,000 workers, beating analysts’ estimate of 200,000 but also booking the lowest monthly pace of hiring since December 2020.
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CENTRAL BANKS ARE GRABBING GOLD
The world’s central banks stockpiled an additional 399 tons of gold in this year’s third quarter, about twice the previous quarterly record, the World Gold Council reported.
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FED HIKES RATE 75 BASIS POINTS: AS FORECAST, SMALLER RISES MAY COME SOON
As we noted, we got it half wrong. Since “It’s the economy, stupid,” we had forecast that President Joe Biden would pressure the Federal Reserve not to raise interest rates 75 basis points last week to help boost the equity markets and voter sentiment prior the mid-term elections.
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WILL AMERICA’S FUTURE BE UTOPIAN OR DYSTOPIAN?
As Americans make their choices in the contentious midterm elections, the populace is confused and angry.
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HYPOCRITES ON PARADE WESTERN WEAPONS CONTINUE TO FLOW INTO KYIV, BUT CONDEMN IRAN FOR SENDING WEAPONS TO RUSSIA
Shortly after the U.S. and its Western allies vowed to keep sending weapons of death to Ukraine to keep bloodying the killing fields, their top diplomats demanded that Iran stop providing the Kremlin with drones and other weapons.