Atlanta Fed President Bostic expects job losses but says there’s a really good chance to get to 2% inflation without killing the economy

President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. Clodagh Kilcoyne | Reuters Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, appeared on CBS’ “Face The Nation” Sunday morning with a continued commitment […]

Energy cost-cutting measures resemble Ponzi scheme

Some of the measures that European governments have taken to keep electricity costs down can be described as a “Ponzi scheme,” said Dan Brouillette, who served as energy secretary under the Trump administration. “One of the easiest policy levers if you will, is that you can pass a bill, appropriate money and give money to […]

CDC cautiously optimistic outbreak might be slowing

The Centers for Disease Control and Prevention is cautiously optimistic that the U.S. is slowing the spread of monkeypox as new cases fall in several major cities. “We’re watching this with cautious optimism, and really hopeful that many of our harm-reduction messages and our vaccines are getting out there and working,” CDC Director Dr. Rochelle […]

Wharton’s Jeremy Siegel on Fed rate hike ahead of Jackson Hole

Wharton business school professor Jeremy Siegel said Friday that the U.S. Federal Reserve does not need to hike more than 100 basis points because an economic slowdown is in sight. “I think we only need 100 basis points more,” Siegel said on CNBC’s “Squawk Box Asia.” “The market thinks it’s going to be a little […]

Risk of ‘financial accident’ presents opportunity for investors

The growing risk of a “major financial accident” that causes a market capitulation later in the year could open up opportunities for investors to “pile up on quality risk assets,” according to Beat Wittman, chairman and partner at Zurich-based Porta Advisors. With risks from inflation and an economic slowdown mounting and central banks treading an […]

Passage of Inflation Reduction Act gives Medicare historic new powers

A pharmacist collects medications for prescriptions at a pharmacy. Simon Dawson | Bloomberg | Getty Images Medicare is poised to renegotiate the prices of some of its most expensive drugs through a historic expansion of its power, which could reduce costs for many seniors as well as federal spending on its prescription drug plan. The […]

Market outlook ‘too volatile’ to chase stock, bond rallies, asset manager says

Investors should eschew chasing recent rallies in stocks and bonds given the current economic uncertainty, according to the chief investment officer of Swiss asset manager Prime Partners. Francois Savary said it was hugely difficult to have clear economic visibility due to the particulars of the current investment cycle, such as the Covid-19 recovery and the […]

When to buy euros, other currency for a trip abroad

Glowimages | Glowimages | Getty Images It’s a good time to be an American traveling abroad. The value of the U.S. dollar has been at its strongest in years relative to many major global currencies of late— meaning travelers can buy more overseas than in the recent past. Put another way, Americans are effectively getting […]

WHO declares spreading monkeypox outbreak a global health emergency

Pavlo Gonchar | Lightrocket | Getty Images The World Health Organization has activated its highest alert level for the growing monkeypox outbreak, declaring the virus a public health emergency of international concern. The rare designation means the WHO now views the outbreak as a significant enough threat to global health that a coordinated international response […]

These are America’s 10 best states for workers

If you are a good worker with marketable skills, you have never been as much in demand as you are right now. With 5 million more job openings in the U.S. than there are workers to fill them, companies are desperately seeking talent. And increasingly, they are willing to go where the workers are. “Workforce […]

In Putin’s evil vs. good war against Ukraine, the forces of good prevailed at NATO this week

Frederick Kempe is the President and Chief Executive Officer of the Atlantic Council. This is a story of evil versus good. It’s the story of a despot’s ruthless attacks on civilian targets in Ukraine, versus the historic, but nonetheless insufficient, rallying of democratic states to save the country. At midday on Monday, in the central Ukrainian […]

Fed could cut interest rates in 2023, analysts say, after rate hikes this year

Some central bank watchers believe the Fed and the ECB will have to stop their tightening cycles because of an upcoming recession. Olivier Douliery | AFP | Getty Images Central banks around the world might have embarked upon a path of aggressive rate hikes — but not everyone is expecting this approach to last. The […]

Fed’s Mester backs 75 basis point hike in July if conditions remain the same

Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the U.S. central bank meets to decide […]

U.S. to deploy nearly 300,000 monkeypox vaccine doses to fight outbreak

Mock-up vials labeled “Monkeypox vaccine” are seen in this illustration taken, May 25, 2022.  Dado Ruvic | Reuters The U.S. will deploy nearly 300,000 monekypox vaccine doses in the coming weeks in an effort to stamp out the growing outbreak of the virus. The Centers for Disease Control and Prevention is recommending that people who […]

World Health Organization says monkeypox is not a global health emergency right now

The World Health Organization on Saturday said the rapid spread of monkeypox across dozens of nations does not represent a global health emergency at this time. WHO Director General Tedros Adhanom Ghebreyesus described monkeypox as an evolving health threat, however, and urged governments around the world to step up surveillance, contact tracing, testing and to […]

Some states ban abortion after Supreme Court voids Roe v. Wade

Pro-life demonstrators hold signs in front of the U.S. Supreme Court as they await its decision on the legality of a Republican-backed Louisiana law that imposes restrictions on abortion doctors in Washington, U.S., June 22, 2020. Kevin Lemarque | Reuters Several U.S. states immediately banned abortion on Friday in the wake of the Supreme Court’s […]

U.S. SEC chief Gary Gensler unveils plan to overhaul Wall Street stock trading

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler testifies before a Senate Banking, Housing, and Urban Affairs Committee oversight hearing on the SEC on Capitol Hill in Washington, September 14, 2021. Evelyn Hockstein | Pool | Reuters The top U.S. securities regulator on Wednesday proposed rule changes to transform how Wall Street handles retail […]

Novavax Covid vaccine clears key step on path to FDA authorization after committee endorses the shot

Novavax’s two-dose dose Covid-19 vaccine for adults ages 18 and older cleared a key step on the path toward Food and Drug Administration authorization on Tuesday. The FDA’s committee of independent vaccine experts voted 21 to 0 with one abstention to recommend authorization of the shot for use in the U.S. after an all-day public […]

Social Security cost-of-living adjustment in 2023 may be a record high

Westend61 / Josep Rovirosa | Getty Images Social Security beneficiaries saw the biggest cost-of-living adjustment in about 40 years in 2022, when they received a 5.9% boost to their monthly checks. Next year, that annual adjustment may even go as high as 8%, according to early estimates. That is despite the fact the annual Social […]

Abbott Nutrition restarts baby formula production in reopened Michigan plant

Shelves normally meant for baby formula sit nearly empty at a store in downtown Washington, DC, on May 22, 2022. Samuel Corum | AFP | Getty Images Abbott Nutrition on Saturday resumed baby formula production at its Sturgis, Michigan, plant, a move toward addressing a nationwide shortage. The company has been given the green light […]

Trading strategies for investors worried about rising recession risks

Countries like the U.S. and U.K. are grappling with inflation that has risen to multi-year highs as the Ukraine war has caused energy prices to spike and food prices to rise. Angela Weiss | AFP | Getty Images Talk of a recession is heating up, with Wall Street veterans flagging the rising risks of a […]

Mortgage demand slides further, even as interest rates pull back slightly

A for sale sign is posted in front of a home that is listed for over $1 million on April 29, 2022 in San Francisco, California. Justin Sullivan | Getty Images Mortgage rates turned lower for the second straight week, but it wasn’t enough to boost demand for either new purchase loans or refinances, according […]

CDC says monkeypox doesn’t spread easily by air: ‘This is not Covid’

The Centers for Disease Control and Prevention wants to calm public anxiety over how the monkeypox virus is transmitted, emphasizing that it doesn’t spread that easily through the air because it requires close contact with an infected person. Monkeypox is primarily spread through sustained physical contact such as skin-to-skin touch with someone who has an […]

Biden Launches Indo-Pacific Trade Deal – The Diplomat

Advertisement President Joe Biden launched a new trade deal with 12 Indo-Pacific nations Monday aimed at strengthening their economies as he warned Americans worried about high inflation that it is “going to be a haul” before they feel relief. Biden, speaking at a news conference after holding talks with Japan’s Prime Minister Kishida Fumio, acknowledged […]

WHO confirms 80 cases of monkeypox with outbreaks in 11 countries

The World Health Organization has confirmed about 80 cases of monkeypox with recent outbreaks reported in 11 countries, according to a statement Friday from the global health agency. The outbreaks are unusual because they are occurring in countries where the virus is not endemic, according to the WHO. More cases will likely be reported in […]

‘A dereliction of duty:’ U.S. lawmakers grill FDA commissioner over baby formula shortage 

Robert Califf testifies during the Senate Health, Education, Labor and Pensions Committee hearing on the nomination to be commissioner of the Food and Drug Administration on Tuesday, Dec. 14, 2021. Bill Clark | CQ-Roll Call, Inc. | Getty Images U.S. lawmakers on Thursday grilled Food and Drug Administration Commissioner Dr. Robert Califf about a nationwide […]

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