Economy

Will Inflation Stay High for Decades? One Influential Economist Says Yes

Will Inflation Stay High for Decades? One Influential Economist Says Yes

First American News LLC Raleigh, NC: Charles Goodhart sees an era of inexpensive labor giving way to years of worker shortages—and higher prices. Central bankers around the world are listening. When the global economy tanked in March 2020, the rate of inflation looked like it was heading to zero. That made it a surprising moment …

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Fed Needs to Hike to Slow Inflation Without Recession, Credit Suisse Says by First American News

Fed Needs to Hike to Slow Inflation Without Recession, Credit Suisse Says

First American News LLC: Raleigh, NC: The Federal Reserve needs to deliver a Volcker-style shock to drive down asset prices if it wants to slow inflation without causing a recession, according to Credit Suisse Group AG strategist Zoltan Pozsar. Policy makers should stoke volatility to set off corrections in assets including stocks, houses and Bitcoin, …

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Putin’s Financial Fortress Blunts Impact of Threatened Sanctions by first american news

Putin’s Financial Fortress Blunts Impact of Threatened Sanctions

First American News LLC: Raleigh, NC: U.S. President Joe Biden says planned sanctions if Russia invades Ukraine would have “a devastating impact” on its economy. But after the Kremlin spent the last eight years preparing for more penalties, economists say the pain may not be as bad as some fear. The measures under consideration, which …

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Credit Suisse Chair Quits Over Covid Breach by First American News

Credit Suisse Chairman António Horta-Osório Quits Over Covid Breach. The Stock Is Down.

First American News LLC: Raleigh, NC:  Credit Suisse Chairman António Horta-Osório has resigned just nine months into the role after breaching Covid-19 quarantine rules. His abrupt departure follows an internal investigation commissioned by the board, Credit Suisse said Monday in a statement. It named board member Axel Lehmann, a former UBS (ticker: UBS) executive, as …

Credit Suisse Chairman António Horta-Osório Quits Over Covid Breach. The Stock Is Down. Read More »

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Warren Buffett missed out on $10 billion in gains by dumping Wells Fargo stock — but he probably doesn’t regret cashing out

First American News LLC: Raleigh, NC:  Warren Buffett’s Berkshire Hathaway missed out on about $10 billion of gains by dumping its Wells Fargo stock in 2020 and early 2021. The famed investor’s company-owned 346 million Wells Fargo shares at the end of 2019, giving it an 8.4% stake in the bank. Berkshire virtually eliminated that …

Warren Buffett missed out on $10 billion in gains by dumping Wells Fargo stock — but he probably doesn’t regret cashing out Read More »

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Hong Kong suspends transit flights for a month from most of the world due to Covid-19

First American News LLC, Raleigh, NC: Hong Kong will suspend transit flights for a month from around 150 countries and territories considered high risk because of the coronavirus, deepening the global financial hub’s isolation. The move comes as the city has seen around 50 cases of the fast-spreading Omicron variant since the end of last …

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Tech Stocks Slipped as Bond Yields Spiked, Bitcoin Dipped—and What Else Happened in the Stock Market Today

First American News LLC, Raleigh, NC: Technology stocks sold off again as bond yields spiked Friday, after the release of the December jobs report. Markets remain confident that the Federal Reserve will act rather quickly to lift interest rates. The Dow Jones Industrial Average was essentially flat and closed down just 5 points, after the …

Tech Stocks Slipped as Bond Yields Spiked, Bitcoin Dipped—and What Else Happened in the Stock Market Today Read More »

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