The US economy shrank at a 1.4% annual rate last quarter despite solid spending by consumers and businesses. This is the first contraction since the early days of the pandemic. This is also the first advance estimate so we will likely have a revised number in the following weeks. Source: BEA The expectation for growth was low, at 1% but this wasn’t expected. There...Read More
The US economy shrank at a 1.4% annual rate last quarter despite solid spending by consumers and businesses. This is the first contraction since the early days of the pandemic. This is also the first advance estimate so we will likely have a revised number in the following weeks. Source: BEA The expectation for growth was low, at 1% but this wasn’t expected. There...Read More
With the objective to contain inflation, the United States Federal Reserve raised interest rates by 0.5 points, leaving them between 0.75% and 1%. It is the second increase this year, they had already raised rates 25 basis points in March, and this is the largest increase in 22 years. The challenge for the Federal Reserve is to keep raising rates to contain inflation without triggering...Read More
With the objective to contain inflation, the United States Federal Reserve raised interest rates by 0.5 points, leaving them between 0.75% and 1%. It is the second increase this year, they had already raised rates 25 basis points in March, and this is the largest increase in 22 years. This doesn’t come as a surprise since Jerome Powell, chairman of the Federal Reserve, had made...Read More
Wall Street stocks sank on Thursday morning, reversing gains from the previous session as markets reassessed the Federal Reserve’s moves to tighten monetary policy in response to inflation. The Dow Jones Industrial Average was down 2.4%, the broad-based S&P 500 fell 3%, while the tech-rich Nasdaq fell 4.1%. These moves come after a major rally in stocks on Wednesday following the Fed’s interest rate hike...Read More
