Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Facebook Facebook logo Sign up for Facebook to connect with Jakub Porzycki Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of … Read more

Global markets are tanking ahead of a huge week for central banks

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, June 1, 2022. Facebook Facebook logo Sign up for Facebook to connect with Brendan McDermid Reuters LONDON – Global stock markets are falling sharply after May’s US inflation print reignited fears that central banks will be forced into … Read more

European Central Bank confirms July rate hike plans, raises inflation projections

The European Central Bank faces a tough balancing act, with inflation running at record highs while the war in Ukraine casts a shadow over the growth outlook. Thomas Lohnes | Getty Images News | Getty Images The European Central Bank on Thursday confirmed its intention to hike interest rates at its policy meeting next month … Read more

Digital Dollar Could Coexist With Stablecoins, Fed Vice Chairwoman Says

WASHINGTON — A US central bank digital currency could one day provide consumers with a level of safety amid a proliferation of privately-issued digital assets such as stablecoins, Federal Reserve Vice Chairwoman Lael Brainard told House lawmakers Thursday. Ms. Brainard told the House Financial Services Committee that in the future a central bank digital currency … Read more

Consumers defy inflation to support economy. For how long?

WASHINGTON – With prices across the economy – from food, gas and rent to cars, airfares and hotel rooms – soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending. Not so far. Consumers as a whole are showing surprising resilience, not only sustaining their spending but increasing … Read more

Stocks end rocky week with their 5th straight weekly decline

NEW YORK – A turbulent week on Wall Street ended Friday with more losses and the stock market’s fifth straight weekly decline. The latest pullback came as investors balanced a strong US jobs report against worries the Federal Reserve may cause a recession in its drive to halt inflation. The S&P 500 ended with a … Read more

Fed’s Message on Interest-Rate Path, Destination Will Be Scrutinized

Investors tuning into Federal Reserve Chairman Jerome Powell’s news conference Wednesday will focus on his comments about how high interest rates might rise beyond this year to combat inflation. This is partly because the Fed has clearly telegraphed its plans for an aggressive ramp-up in policy tightening at this week’s two-day policy gathering, which begins … Read more

Fed’s Message on Interest-Rate Path, Destination Will Be Scrutinized

Investors tuning into Federal Reserve Chairman Jerome Powell’s news conference Wednesday will focus on his comments about how high interest rates might rise beyond this year to combat inflation. This is partly because the Fed has clearly telegraphed its plans for an aggressive ramp-up in policy tightening at this week’s two-day policy gathering, which begins … Read more