Economy

Ray Dalio, founder of Bridgewater Associates LP, speaks during a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, May 25, 2022. Bloomberg | Bloomberg | Getty Images The financial market turmoil resulting from the U.K. government’s spending plan “suggests incompetence,” according to billionaire investor Ray Dalio.  “I
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Larry Summers Cameron Costa | CNBC LONDON — Former U.S. Treasury Secretary Larry Summers on Tuesday warned that the U.K. has lost sovereign credibility after the new government’s fiscal policy sent markets into a tailspin. The British pound hit an all-time low against the dollar in the early hours of Monday morning, before recovering slightly on Tuesday, while the U.K.
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President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. Clodagh Kilcoyne | Reuters Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, appeared on CBS’ “Face The Nation” Sunday morning with a continued commitment
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Russian President Vladimir Putin attends a meeting of heads of the Shanghai Cooperation Organization (SCO) member states at a summit in Samarkand, Uzbekistan September 16, 2022. Foreign Ministry Of Uzbekistan | via Reuters Ukraine’s counteroffensive, which has seen vast swathes of Russian-occupied territory get recaptured, could be compounding Russia’s economic troubles, as international sanctions continue
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The prices that producers receive for goods and services declined in August, a mild respite from inflation pressures that are threatening to send the U.S. economy into recession. The producer price index, a gauge of prices received at the wholesale level, fell 0.1%, according to a Bureau of Labor Statistics report Wednesday. Excluding food, energy
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Commuters arrive at Grand Central station during morning rush hour in New York, Nov. 18, 2021. Jeenah Moon | Bloomberg | Getty Images The August jobs report showed the U.S. unemployment rate rise across the board. Meanwhile, Black workers marked the only demographic to see their labor force participation fall. The unemployment rate rose 0.2
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