Economy

The U.S. central bank’s 2% target for inflation plays a crucial role in achieving price stability and is essential for ensuring economic prosperity, as emphasized by New York Federal Reserve Bank President John Williams. He stressed the importance of transparency and clear communication, stating that setting an explicit, numerical longer-run inflation target is critical for

Economists are currently divided on the potential size of Brazil’s upcoming interest rate reduction, with conflicting opinions arising due to shifting perspectives on U.S monetary policy and ongoing concerns regarding local inflation. The Banco Central do Brasil (BCB) recently transitioned to a more hawkish stance, deviating from its previous clear forward guidance and creating a

Mexico’s peso is currently facing a challenging landscape, with a mixture of positive and negative factors influencing its performance in the foreign exchange market. Despite a relatively firm economy, the currency has experienced a minor 1% drop year-to-date. This depreciation is expected to continue in the medium-term, with a forecasted additional 2.6% decline in the

The Internal Revenue Service (IRS) has announced its intentions to significantly increase audit rates for big corporations, partnerships, and multimillionaires over the next three years. This decision comes as the agency ramps up its enforcement spending and hiring to boost collections. Targeted Audits The IRS plans to triple the audit rate on corporations with assets

The decline in U.S. stock index futures on Wednesday was largely attributed to downbeat results in chip stocks. Advanced Micro Devices (AMD) saw a 6.3% drop in premarket trading due to disappointing forecast for AI chip sales, while Super Micro Computer (SMCI) reported third-quarter revenue below estimates, leading to a 9.1% decline in its stock.

Australia’s biggest banks are facing a challenging first half of the year, with weaker profit forecasts on the horizon. High operating costs and intense competition in the mortgage and deposit markets are putting pressure on margins, leading to a possible reversal of the recent stock rally that analysts have described as overheated. Traditionally, the Big

The Options on Secured Overnight Financing Rate (SOFR) futures are indicating a higher likelihood of the Federal Reserve raising interest rates by a quarter percentage point both this year and next. This sentiment is primarily driven by the resilience of U.S. inflation and the labor market. Investors in the bond market tend to rely on

Japan’s currency, the yen, experienced a dramatic surge against the dollar recently, leaving many traders speculating about the reasons behind this sudden move. This intervention by Japanese banks is the first of its kind in 18 months and has caused ripples in the foreign exchange market. As we delve deeper into the implications of this

As traders in Europe wake up to a nervy currency market, the recent sharp reversal of the yen from its slide past 160 per dollar on Monday has sparked speculation. Some have suggested that Tokyo could be behind the move, especially as the jump in the yen to a session-high of 156.55 per dollar came

Bill Gates, the tech billionaire turned philanthropist, has issued a warning regarding the fight against polio. Despite the efforts and billions of dollars poured into the cause, success is not guaranteed. While celebrating a $500 million pledge from Saudi Arabia towards combating polio over the next five years, Gates highlighted that there is still a

Thailand recently appointed former energy executive, Pichai Chunhavajira, as the country’s new finance minister, tasked with the challenging job of revitalizing Southeast Asia’s second-largest economy. The 75-year-old, who previously served as an adviser to Prime Minister Srettha Thavisin, now steps into the role of finance minister and deputy prime minister, as announced by the official

Russia’s senior security official, Dmitry Medvedev, has made it clear that if the U.S. proceeds with confiscating its frozen currency reserves in the West, Russia will retaliate by seizing the assets of U.S. citizens and investors within its borders. This tit-for-tat escalation comes in response to a bill passed by the U.S. House of Representatives