The head of the Federal Reserve Bank of Chicago, Charles Evans, in an interview with CNBC during the Asian Investment Conference, Credit Suisse, commented on financial market concerns about the inverted yield curve. He noted that the flat yield curve indicated a slowdown in economic growth. He estimates that the US economy will slow growth to 2% this year. Evans believes that this is a good growth rate, which indicates the preservation of the stability of the US economy. Therefore, the probability of a recession is very low and is no more than 25%. In his opinion, there is no need to worry about inflationary pressures, since the labor market and consumer spending remain strong.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
Oil prices rose on Thursday, but an unexpected build in U.S. crude oil reserves capped gains as the coronavirus pandemic curbed fuel consumption. U.S. crude and distillate stocks rose while fuel demand fell in the past week as a continuous ...