In a recent statement made by U.S. Vice President Kamala Harris, she emphasized the importance of the independence of the Federal Reserve. Harris made it clear that, if elected as president, she would never interfere in the decisions made by the Federal Reserve. This stands in stark contrast to former President Donald Trump’s stance on
Economy
In recent news, it has been reported that Indian automaker Mahindra & Mahindra and China’s Shaanxi Automobile Group are considering a joint venture to establish a car manufacturing plant in India. This $3 billion investment is currently awaiting approval from the Indian government, particularly Prime Minister Narendra Modi’s administration. Despite the initial excitement and anticipation
Federal Reserve Governor Michelle Bowman recently expressed a slightly softer stance on inflation, acknowledging some welcome progress in recent months. Despite this, she emphasized that inflation remains uncomfortably above the central bank’s 2% goal and is subject to upside risks. Bowman indicated that if inflation continues to move sustainably towards the 2% target, it may
As the summer season progresses, retailers in the United States are experiencing a surge in imports, fueled by the need to prepare for potential strikes by port workers and shipping disruptions. Container imports and freight rates have seen a significant increase in July, pointing towards an earlier peak season for the ocean shipping industry, which
Republican presidential candidate Donald Trump has made it clear that he is interested in infringing on the Federal Reserve’s independence if he is elected president once again. The former president believes that the president should have a say in Fed decisions, going against the idea of an independent Federal Reserve. This contradicts Vice President Kamala
The dollar has experienced fluctuations this week against other major currencies, easing off a one-week high in response to recent economic data. The U.S. currency faced downward pressure against the Japanese yen following a rebound, as traders reacted to firmer-than-expected employment figures and the possibility of a looming economic downturn. The yen and the Swiss
In a recent development, the Reserve Bank of India (RBI) decided to keep its key interest rate unchanged, which was in line with market expectations. The Monetary Policy Committee (MPC) voted to retain the repo rate at 6.50%, marking the ninth consecutive policy meeting where the rate remained the same. This decision was supported by
The recent burst of volatility in financial markets has once again highlighted the inherent risks of speculative trading strategies that rely on low volatility environments. While these trades can be highly profitable in the short term, they are also extremely vulnerable to sudden spikes in volatility, which can lead to significant losses and potential market
The recent statements by the Bank of Japan’s influential deputy governor, Shinichi Uchida, have highlighted the central bank’s cautious approach towards interest rate hikes. Contrary to Governor Kazuo Ueda’s hawkish comments, Uchida emphasized the importance of stability in financial markets before considering any further increases in borrowing costs. This divergence in views between the two
Brazil’s central bank seems to be facing a tough decision when it comes to inflation. According to the minutes from their policy meeting, they are willing to raise interest rates if necessary to bring inflation down to their target. This indicates a sense of urgency and concern about the current inflationary pressures in the economy.
The Greater Toronto area experienced a decline in home sales during the month of July, following a surprising increase in June that had broken a four-month streak of decreases in home deals. The Toronto Regional Real Estate Board (TRREB) reported a 1.7% drop in seasonally adjusted sales in July, after observing a 3.2% rise in
The recent announcement of Google’s non-exclusive license agreement with Character.AI has sparked discussions and debates within the tech industry. This deal signifies a strategic move by Alphabet to acquire the chatbot maker’s large language model technology, further strengthening its AI capabilities. Similar to previous deals struck by Microsoft and Amazon, Google’s agreement with Character.AI is