Economy

Fed’s favorite inflation gauge is expected to show very slow progress on Friday

Inflation is taking baby steps towards coming back to where policymakers want it, with a report due Friday expected to…

Global debt has grown to $315 trillion this year — here’s how we got here

The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance. This global debt…

The Fed probably won’t be delivering any interest rate cuts this summer

Investors likely will have to sweat out a summer during which it looks increasingly improbable that the Federal Reserve will…

British retail sales plunge 2.3% in April, missing estimates

LONDON — U.K. retail sales volumes dropped 2.3% in April as wet weather deterred shoppers, the Office for National Statistics…

Auto insurance rates are jumping the most since the 1970s, but there could be relief soon

Soaring auto insurance costs have been a principle driver behind inflation over the past year, but there could be relief…

JPMorgan CEO Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome’

JPMorgan Chase‘s chairman and CEO, Jamie Dimon, says a “hard landing” for the U.S. cannot be ruled out. When asked…

Fed officials seem like they have ‘no idea’ what is going on with U.S. inflation, strategist says

Federal Reserve officials appear to have “no idea” what is happening when it comes to the inflation picture in the…

UK inflation comes in hotter than expected, slashing June rate cut bets

LONDON — U.K. inflation came in hotter than expected with a drop to 2.3% in April, the Office for National…

Britain’s inflation rate could be about to drop below the Bank of England’s 2% target

LONDON — U.K. inflation could be about to hit a major milestone, with some forecasting that a sharp fall in…

Soaring debt and deficits causing worry about threats to the economy and markets

Government debt that has swelled nearly 50% since the early days of the Covid pandemic is generating elevated levels of…