““A currency crisis in a reserve currency could well have global consequences. I am surprised that we have heard nothing from the IMF.”” — Larry Summers, former U.S. Treasury secretary Read more
Tag: Crisis
‘If the FDA is expected to do more, it needs more’: FDA investigation into baby-formula crisis points to its own shortcomings. But shortages persist.
The Food and Drug Administration spent months probing the nationwide shortage in baby formula, and conducted 40 interviews with more than 60 of its staff and leadership. As shortages still Read more
U.K. consumer confidence hits record low in September as cost-of-living crisis weighs
U.K. consumers turned more pessimistic in September as high inflation and rising interest rates outweighed any effect from recent government measures to freeze households’ rising energy bills. The consumer-confidence barometer Read more
Biden announces $2.9 billion in new U.S. aid for global food crisis
President Joe Biden on Wednesday is announcing more than $2.9 billion in new assistance from the U.S. government to address global food insecurity, building on the $6.9 billion in American Read more
Biden announces $2.9 billion in new U.S. aid for global food crisis
President Joe Biden on Wednesday is announcing more than $2.9 billion in new assistance from the U.S. government to address global food insecurity, building on the $6.9 billion in American Read more
‘The situation has deteriorated.’ Deutsche Bank forecasts deeper Europe recession amid a war-fueled energy crisis
Hopes for a “mild recession” in Europe this winter have been abandoned by Deutsche Bank strategists, who have dramatically slashed their 2023 growth forecasts. The bank now expects EU-area growth Read more
‘The situation has deteriorated.’ Deutsche Bank forecasts deeper Europe recession amid a war-fueled energy crisis
Hopes for a “mild recession” in Europe this winter have been abandoned by Deutsche Bank strategists, who have dramatically slashed their 2023 growth forecasts. The bank now expects EU-area growth Read more
Weekend reads: This may cause the next financial crisis
The Federal Reserve invigorated the economy before and during the coronavirus pandemic by purchasing Treasury bonds. The central bank was the main purchaser of newly issued U.S. debt and created Read more
U.K. retail sales fall more than forecast in August as cost-of-living crisis hit spending
Retail sales in the U.K. declined in August as falling households’ real incomes due to high inflation weighed on consumer spending on goods. Retail sales volumes fell 1.6% on month Read more
Why an Arkansas town could provide a grim road map for America if car repos blow up
As recession worries loom over America, a debt crisis already bearing down on wage workers in northwest Arkansas could foreshadow bigger problem for a nation on high alert for a Read more