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Wells Fargo, Bank of America CEOs Say Consumer Demand Is Slowing, Recession Looms
Many shoppers say they plan to spend less on Black Friday as the cost-of-living crisis deepens. Richard Baker | Pictures | Getty Images American consumers are squeezing spending like the Federal Reserve The interest rate increases It reverberates throughout the economy, according to the CEOs of two of America’s largest banks. After two years of […]
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Fed Chair Powell is having trouble communicating with the market
No matter what Federal Reserve Chairman Jerome Powell says to market participants these days, they seem to only hear good things. Two recent examples: The first was in July, when Powell hinted that a rate hike might be on the way. The second was last week, when the central bank chief appeared to confirm that […]
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7 million American men are ‘over’ looking for work and ‘beat out’ – Mike Rowe warns – here’s why it’s such a serious problem
Men have been steadily dropping out of the American workforce since pre-pandemic times — even now despite millions of jobs and an unstable economic climate. While the US job market remains incredibly tight – with the economy adding another 263,000 jobs in November – some 7 million “older men” of men ages 25 to 54 […]
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Xi of China met more than 25 world leaders in about a month
Chinese President Xi Jinping attends a session during the G20 summit in the Indonesian resort island of Bali on November 16, 2022. Willie Kornewan | Afp | Getty Images BEIJING – A month after he consolidated power at home, Chinese President Xi Jinping On the world stage to strengthen relations with the United States and […]
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India take off? | financial times
huh. This has not happened: India has quietly become an emerging market highlight over the past decade. Not only has it easily posted the best performer of any of the major emerging markets, but it has also been the only one with positive returns. If you already know this, congratulations! Either you’re an emerging market […]
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“We are not your enemies,” said South Korean truck drivers who are on strike to protect the minimum wage
AUWANG, South Korea, Dec. 5 (Reuters) – Inside five white tents outside the Uwang Container Depot near Seoul, about 200 striking truck drivers are huddled around gas heaters, trying to beat the bitter cold and the government says they are well-paid. “The labor aristocracy…” They are all fully aware of the impact their strike has […]
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What do you know this week
Part of the economic data awaits Wall Street this week as investors approach The final meeting of the Federal Reserve to set the interest rate this year. New readings on Producer Price Index (PPI) – which measures inflation at the wholesale level – Durable Goods Orders and Consumer Confidence top the economic calendar in importance. […]
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“Smart” cryptocurrency? Big Dealers fell for Sam Bankman Fried
I was shocked when I first learned how a hot mess like Sam Bankman-Fried got away with convincing so many seemingly smart people — big money managers, venture capitalists, all celebrity ambassadors — that he was a boy investment genius, they must. Hand over a lot of money to play with. That is, until I […]
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TikToker went viral explaining why anyone in the US making less than $25 an hour would be in serious trouble. He has a point. But you can prove him wrong
‘You should be terrified’: TikToker has gone viral for explaining why anyone in the US making less than $25 an hour is in serious trouble. He has a point. But you can prove him wrong As if we had nothing to worry about. The recession seems to be getting bigger and bigger, and it will […]