Economic News Category

Goldman cuts US GDP forecast after Manchin rejects Biden bill Goldman Sachs Group cut its economic growth forecast for the United States after Joe Manchin, a senator from West Virginia, rejected President Joe Biden’s $2 trillion tax and spending program. leaving Democrats with few options to revive the economic agenda. The group said in a

Asian Markets recover spurred by Omni corn worries Asian equities on Tuesday rebounded from the global downturn in financial markets, boosted by concerns about the impact of Omicron variants, inflation and other forces on the global economy. Tokyo has risen by more than 2% and other benchmarks in Asia have also risen. Much of the

Stock and oil prices fall as Omicron threatens growth   Asian stocks fell to a one-year low on Monday and oil prices fell nearly 3% as an increase in Omicron COVID19 cases caused tighter restrictions in Europe and threatened to flood the economy. Beijing eased the mood somewhat by cutting its one-year lending rate during

Bank of England governor Andrew Bailey acts as an inflation rocket, the highest in 30 years at 6%   The pound sterling has risen against the dollar and euro as the Bank of England raised interest rates for the first time since the pandemic.  Warning that inflation is approaching its highest level in 30 years,

The Fed is expected to take a huge step towards raising rates The Federal Reserve is, of course, expected to announce dramatic changes on Wednesday, which will pave the way for the first rate hike next year. The market expects the Fed to accelerate its bond purchase program and change its end date from June