The Federal Reserve raises interest rates for the fourth time this year

The Federal Reserve took a bold step on Wednesday to combat soaring inflation by announcing another three-quarter percentage point increase in the interest rate. The increase comes as central bankers face a difficult balancing act: cutting high prices amid growing fears of an economic slowdown. The latest increase brings the federal funds rate to between … Read more

Putin’s new pressure on gas dooms Europe to recession and rationing winter

Europe previously received about 45% of its annual gas supply from Russia. Leonard Weger | Reuters Europe’s descent into economic downturn appears to have been confirmed with Russia squeezing natural gas supplies to the bloc and heavy industries facing tough rationing in the coming months. Just days after Europeans breathed a sigh of relief as … Read more

AP interview: Japanese minister says women ‘underestimated’ | Health, medicine and fitness

By Mari Yamaguchi and Foster Kluge – The Associated Press TOKYO (Associated Press) – Japan’s minister of gender equality and child issues has described record low births and population declines as a national crisis and blamed «apathy and ignorance» in Japan’s male-dominated parliament for neglect. In a wide-ranging interview with the Associated Press, Seiko Noda … Read more

Jerome Powell and the Federal Reserve are still struggling to understand the crazy economy that has been hit by the pandemic and war

In terms of news related to the economy and inflation, this is an important week. On Tuesday and Wednesday, Jerome Powell and his Fed colleagues will hold a two-day meeting, in which they are expected to raise the federal funds rate by another three-quarters of a percentage point. On Thursday, the Commerce Department will release … Read more