The U.S. Federal Reserve’s steady rise in interest rates has pulled inflation down to 3 percent in June, close to the central bank’s 2-percent target rate—but the economy may pay a price in a rising number of bad corporate loans.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Aug 1 2023
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STOCK MARKETS SEND MIXED SIGNALS ABOUT THEIR FUTURE
In June, the Standard & Poor’s 500 index ended its longest bear market since the 1940s, The Wall Street Journal noted, and has leaped up 28 percent since then, ending 26 July at its highest close since April 2022.
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ECONOMIC UPDATE – MARKET OVERVIEW
The global economic slowdown has begun. The facts are in the figures. Leading the downtrend is China, the world’s #2 economy, whose leaders caused the socioeconomic decay when they launched the COVID War during their Lunar New Year in January 2020, “The Year of the Rat.” After imposing draconian zero-COVID policies for some three years, they have destroyed the lives and livelihoods of hundreds of millions across the nation.
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JPMORGAN BECOMES A GOLD BUG
With a recession still likely, gold’s price will break through $2,000 later this year and set new records in 2024 as the U.S. Federal Reserve begins cutting interest rates in next year’s second quarter, analysts at megabank JPMorgan Chase predicted.