Fed’s fight against inflation could cost US 1.2 million jobs

Minneapolis CNN Business — In its efforts to reduce historic inflation and cool the economy, the Federal Reserve has used multiple euphemisms to describe the potential impact on Americans’ jobs, from economic “pain” to “unfortunate costs” and a job market”. However, data does not mince words. The Fed’s latest economic forecast, released Wednesday alongside a … Read more

2-Year Treasury surpasses 4.2%, 15-year high as Fed drives up short-term rates

Yields moved higher on Friday, with the 2-year Treasury yield reaching a new 15-year high as markets assessed the latest Federal Reserve rate hike and what it means for the economy going forward. The policy-sensitive 2-year Treasury hovered above 4.2%, reaching a 15-year high of 4.266% earlier in the session. It last gained 12 basis … Read more

IMF chief warns there will be ‘people on the streets’ worldwide unless measures are taken to reduce inflation

CNN — There will be “people on the streets” worldwide unless measures are taken to protect the most vulnerable from inflation, Kristalina Georgieva, the head of the International Monetary Fund (IMF), warned Wednesday. “It’s important to remember that this composite impact of multiple crises is already testing people’s patience and resilience. And if you don’t … Read more

Opinion: Many have lost faith in the Fed. Will it be able to regain our trust?

Editor’s Note: Mohamed A. El-Erian is the president of Queens’ College at Cambridge University, the Renee Kerns Professor at Wharton Business School, senior fellow of the Lauder Institute and advisor to Allianz and Gramercy. He serves on the boards of Barclays, the NBER and Under Armour. The opinions expressed in this commentary are his own. … Read more

2-Year Treasury Yields Hit New 15-Year High

Treasury yields rose Tuesday as traders await the Federal Reserve’s decision on rate hikes, expected to be announced Wednesday. The policy-sensitive 2-year Treasury gained about 3 basis points, reaching 3.977% – a level it hadn’t reached since late 2007. The 10-year Treasury yield rose 5 basis points to 3.539% at 6:15 a.m. ET, trading near … Read more

Parents struggle with inflation: ‘I left that $25 backpack for my toddler at the checkout. ‘

New York CNN Business — While Sarah Longmore finished her school shopping, the mother of five looked at a $25 backpack for her preschooler. The skyrocketing inflation had crushed the family budget, and she decided her daughter could do it with a hand-me-down. She put the backpack back. Like Longmore, many parents — regardless of … Read more

Brad DeLong knows the economic miracle is over

Brad DeLong was confident that the story began in 1870. The polymath economist wrote a book on economic modernity—about how humans transitioned from existence on our tiny planet to build a kind of utopia on it—and he saw a turning point centuries after the rise of capitalism and decades after its arrival. of scale production. … Read more

G7 countries agree to limit the price of Russian oil

Hong Kong/London CNN Business — The West’s largest economies agreed on Friday to impose a price cap on Russian oil in a bid to reduce Moscow’s ability to finance its war in Ukraine without further fueling global inflation. The finance ministers of the G7 group of countries – the United States, Japan, Canada, Germany, France, … Read more

China hits Taiwan with trade restrictions after Pelosi visit

Hong-Kong CNN Business — China has suspended some trade with Taiwan in apparent retaliation for a visit by US House Speaker Nancy Pelosi to the self-governing island. The curbs include the suspension of some fruit and fish imports from Taiwan and the export of natural sand to the island. China is Taiwan’s largest trading partner, … Read more