Nearly 70% of Americans are looking for extra work to combat inflation

A few months ago, Mike Petree noticed an alarming pattern: His bank account would get uncomfortably low on the weekends before he’d get his paycheck, paid biweekly on Wednesdays. Despite no changes to their daily habits, bills for him and his family of five skyrocketed: a $120 weekly grocery bill ballooned to $200, and a … Read more

Larry Summers blasts UK’s ‘utterly irresponsible’ fiscal policy

Larry Summers Cameron Costa CNBC LONDON — Former US Treasury Secretary Larry Summers on Tuesday warned that the UK 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 … Read more

Investors brace for a possible rate cut amid Turkey’s 80% inflation

An electronic board displays exchange rate information at a currency exchange bureau in Istanbul, Turkey, on Monday, Aug. 29, 2022. Nicole Tung | Bloomberg | Getty Images The Turkish lira hit a new record low on Thursday, trading at 18.377 against the dollar at 11:30 am in Istanbul and continuing its downward slide of more … Read more

European markets open to close, BOE and SNB rate decisions

Swiss franc weakens dramatically against dollar, euro and sterling after rate hike The Swiss franc weakened dramatically against the US dollar, euro and sterling following the central bank’s decision to hike interest rates by 75 basis points to 0.5%. At 9:30 am London time, the dollar was 0.9% higher against the Swiss currency, while the … Read more

Here’s everything the Federal Reserve is expected to do today

Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura Los Angeles Times | Getty Images There’s not a lot of mystery surrounding Wednesday’s Federal Reserve meeting, with markets widely expecting the central bank to approve its third consecutive three-quarter point interest rate hike. … Read more

Fed hike, Bank of Japan, interest rates, currencies

Oil prices climb after Fed’s rate hikes, demand fears linger Oil prices climbed following the Fed’s third consecutive rate hike. Reuters also reported Chinese refiners are expecting the nation to release up to 15 million tons worth of oil products export quotas for the rest of the year, citing people with knowledge of the matter. … Read more