Silicon Valley Bank and Similarities to the fall of 2008
Silicon Valley Bank and similarities to the fall of 2008 The 2007–2008 financial crisis, or Global Financial Crisis (GFC), and the March 2023 collapse of Silicon Valley Bank (SVB) have…
economy
Macron, Scholz meet, rift over energy, economy
Macron, Scholz meet, rift over energy, economy Newslooks- PARIS (AP) French President Emmanuel Macron and German Chancellor Olaf Scholz thrashed it out for three hours in Paris on Wednesday in…
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US inflation reached 9.1% in June, a new 40-year peak
US inflation reached 9.1% in June, a new 40-year peak Newslooks- WASHINGTON (AP) Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June,…
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AP-NORC poll: Inflation, expenses rise sharply as Priority
AP-NORC poll: Inflation, expenses rise sharply as priority Newslooks- WASHINGTON (AP) Concerns about inflation and personal finances have surged while COVID has evaporated as a top issue for Americans, a…
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Biden interview: Optimistic about economy, recession not inevitable
President Joe Biden sat down with The Associated Press for 30 minutes to talk about economic issues. He stressed that a recession was “not inevitable” and said COVID-19 spending did…
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Largest rate hike by the Fed since 1955
In response to soaring inflation that will not go away, the Federal Reserve increased its key interest rate again, this time by three-quarters of a point. And it’s just the…
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Iran nuclear deal looks dead as it removes surveillance cameras
Negotiations with Iran over its nuclear enrichment program took a sour turn, as the authoritarian country defiantly removed 27 surveillance cameras from its nuclear sites. It may have been done…
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Stocks sink broadly lower as concerns arise about rate hikes
The economy is rebounding, but that means the Federal Reserve might continue raising interest rates aggressively in order to rein in inflation. This has investors nervous, and the stock market…
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Inflation still surging, consumer confidence dips lower
It was another dismal month in May, as inflation remained at record high levels and the consumer confidence index responding by slipping down to 106.4. Consumers’ assessment of current business…
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Are we returning to 1970s stagflation?
Soaring inflation has economists worried we’re about to repeat the stagflation experienced in the late 1970s under President Jimmy Carter. Usually inflation only increases when the economy is strong and…
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Interest rates likely headed to ‘restrictive’ level
The Federal Reserve is upping the ante on raising interest rates, getting desperate to quell inflation. Federal Reserve officials say they may have to raise them so high it weakens…
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