Browsing: Talous

Italian Prime Minister Mario Draghi held a press conference at the Prime Minister’s Multipurpose Hall in Rome, Italy on July 12, 2022.Massimo Di Vita | Massimo Di Vita Mondadori Portfolio | Getty ImagesA report by economist and politician Mario Draghi says the EU needs up to 800 billion euros ($884 billion) in additional investment annually to achieve its key competitiveness and climate goals.The report points out that the EU’s goals of greater geopolitical relevance, social equality and decarbonization are threatened by weak economic growth and productivity compared with the United States and China.The wide-ranging study, led by Draghi, who served…

Federal Reserve Governor Christopher Waller on Friday backed a rate cut at the central bank’s upcoming policy meeting in less than two weeks and said he would be willing to cut rates significantly if necessary.”Given the continued progress on inflation and the labor market slowdown, I believe now is the time to lower the target range for the federal funds rate at our upcoming meeting,” Waller said in remarks prepared for the Council on Foreign Relations. “New York.Other policymakers have recently argued for easing policy sooner, but this was one of the clearest signs at the September 17-18 Federal Open…

Federal Reserve Chairman Jerome Powell unveiled the latest buzzwords to describe monetary policy and “recalibrate” policy at a critical moment for the central bank.At a news conference after Wednesday’s meeting of the Open Market Committee, Powell used variations of the word no less than eight times to try to explain why the Fed took the unusual step of cutting interest rates by a half-percentage point in the absence of significant weakness in the economy.”This recalibration of our policy stance will help maintain the strength of the economy and the labor market and will continue to drive further progress on inflation…

Commuters cycle past the Bank of England (BOE) (left) in the City of London, England, Monday, September 16, 2024. Bloomberg | Bloomberg | Getty ImagesLONDON – The Bank of England said on Thursday it would keep interest rates steady after its first cut in August, despite the Federal Reserve opting to cut interest rates sharply the day before.The Monetary Policy Committee voted 8 to 1 to remain unchanged, with dissenting members voting in favor of another 0.25 percentage point cut in interest rates.The committee said “gradual” monetary easing remains appropriate and services sector inflation remains “high.” The report added that…

Ray Dalio, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates, speaks at the Skybridge Capital SALT 2021 New York Conference.Brendan McDermid | ReutersBillionaire investor Ray Dalio said the U.S. economy still faces “massive debt” as the Federal Reserve cuts interest rates for the first time since the early days of the coronavirus pandemic.The central bank decided to cut the federal funds rate by 50 basis points to a range of 4.75% to 5%. The rate not only determines banks’ short-term borrowing costs, but also affects a variety of consumer products such as mortgages, car loans and credit cards.”The challenge for…

Turkish Foreign Minister Hakan Fidan attends the BRICS+ meeting of the two-day BRICS Foreign Ministers’ Summit in Nizhny Novgorod, Russia, on June 11, 2024.Sefa Karakan | Anatolia | Getty ImagesTurkey’s request to join the BRICS alliance is seen as a strategic and symbolic move as the Eurasian country of 85 million people grows in influence and influence on the global stage.”Our president has stated many times that we want to be a member of the BRICS,” a spokesman for Türkiye’s leading Justice and Development Party told reporters in early September. “Our demands on this matter are clear and the entire…

Jamie Dimon, Chairman and Chief Executive Officer (CEO) of JPMorgan Chase & Co. (JPM), delivered a speech at the Economic Club of New York in Manhattan, New York City, USA on April 23, 2024. Fresh Mike | ReutersJPMorgan Chase Chief Executive Jamie Dimon said on Tuesday that he would not rule out stagflation, despite growing confidence recently that inflation is moving away from highs.”I would say the worst outcome is stagflation – a recession, rising inflation,” Dimon said at the fall meeting of the Council of Institutional Investors in Brooklyn, New York. “I’m not taking that off the table, by…

People shop at a store in Brooklyn, New York City, on August 14, 2024. Spencer Pratt | Getty ImagesThe Fed will take a final look at inflation data this week before confirming soon the size of its widely expected rate cuts.On Wednesday, the U.S. Department of Labor’s Bureau of Labor Statistics will release its August consumer price index report. A day later, the Bureau of Labor Statistics released its report on the Producer Price Index, also for August, which is used as a proxy for wholesale-level costs.With the question of whether the Fed will cut interest rates at the end…

People shop at a store in Brooklyn, New York City, on August 14, 2024. Spencer Pratt | Getty ImagesThe Fed will take a final look at inflation data this week before confirming soon the size of its widely expected rate cuts.On Wednesday, the U.S. Department of Labor’s Bureau of Labor Statistics will release its August consumer price index report. A day later, the Bureau of Labor Statistics released its report on the Producer Price Index, also for August, which is used as a proxy for wholesale-level costs.With the question of whether the Fed will cut interest rates at the end…

Mare Magnum | Corbis Documentaries | Getty ImagesLONDON – The UK economy continued to be flat in July from the previous month, preliminary data from the Office for National Statistics showed on Wednesday.Gross domestic product (GDP) was below expectations of economists polled by Reuters, who forecast growth of 0.2%.The country’s GDP did not grow in June either.As of July, the UK-led services sector grew slightly by 0.1%, while production and construction output fell by 0.8% and 0.4% respectively.The UK economy grew 0.5% in the three months to July, slightly below economists’ expectations and 0.6% in the second quarter to June.Liz…