The Federal Reserve and investors appear to be locked in what one veteran market watcher has described as an epic game of “chicken.” What Fed Chair Jerome Powell says Wednesday could determine the winner.
Strategists and policy experts in both parties believe Democrats will have to come to the bargaining table soon to negotiate a debt ceiling deal that would avoid an economic catastrophe.
The U.S. is poised to grant a license to Chevron Corp. CVX 0.27%increase; green up pointing triangle to pump oil in Venezuela, a policy shift that signals the easing of yearslong sanctions and could open the door for other oil companies to do business there.
The unemployment rate edged down to 3.5 percent in December and has remained in a narrow range of 3.5 percent to 3.7 percent since March. The number of unemployed persons edged down to 5.7 million in December.
Add one more grim figure to the toll exacted by disastrous COVID-era school closures: a huge penalty to the lifetime earnings of students forced to suffer through remote schooling, totaling possibly as much as $28 trillion (more than the nation’s entire GDP) over the remainder of the 21st century.
Throughout 2022, the U.S. faced economic, financial and political turmoil, this will only continue into the new year, but the greatest challenge America faces is the uncertainty as relates to the economy; especially inflation.
Securities and Exchange Commission Chairman Gary Gensler is trying to spin the FTX blow-up as a cautionary tale about the crypto “wild West.” But where was the SEC sheriff when Sam Bankman-Fried was funneling FTX customers’ funds to his Alameda Research trading house to finance risky bets and a lavish lifestyle?
The bear market in stocks and rapid inflation eroded the real wealth of American households during the first three quarters of 2022.
