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Economy
Billionaire ‘Bond King’ Jeff Gundlach rings the recession alarm, says bitcoin is hugely
Jeff Gundlach.REUTERS / Jessica RinaldiJeff Gundlach warned the Federal Reserve could cause a recession if it tightens its monetary policy.
DoubleLine Capital's billionaire boss said only speculators would buy bitcoin at its…
Google tells employees it won’t raise everyone’s wages to keep up with inflation
Google parent company Alphabet announced its fifth quarter in a row of record profits ($18.9 billion) and second straight quarter of record revenue ($65.1 billion) in October, but a company executive told employees that Google…
Japan’s record $940 bln budget may help COVID-hit economy, fiscal discipline in doubt
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Japanese Prime Minister Fumio Kishida's cabinet approved on Friday a record $940 billion budget for the next fiscal year as COVID-19 responses added to the costs of supporting an aging…
EXCLUSIVE Ukraine suspects group linked to Belarus intelligence over cyberattack
A laptop screen displays a warning message in Ukrainian, Russian and Polish, that appeared on the official website of the Ukrainian Foreign Ministry after a massive cyberattack, in this illustration taken January 14, 2022.…
Euro drops to 20-year low, approaches parity with dollar
The euro slid to a 20-year low and came closer to parity against the dollar on Monday on concerns that an energy crisis will tip the region into a recession, while the US currency was boosted by expectations that…
Evergrande: ‘Everyone bet on inexorably rising Chinese property prices’
The crisis engulfing the Chinese property sector appears certain to intensify in 2022 as companies face debt repayments in the new year that are double those of the final months of 2021, risking what one China expert calls a systemic…
CBO boosts U.S. GDP growth estimates, says inflation has topped and will cool to 2% by
A person runs in front of the U.S. Capitol building during morning hours in Washington, February 10, 2022.Brendan McDermid | ReutersU.S. economic growth will exceed 3% in 2022, while roaring inflation has topped and will cool each month…
Our supply chain woes didn’t start with the pandemic
This holiday season, Americans have a new reason to stress: the dreaded supply chain crisis. The bottleneck of goods has many people doing their holiday shopping early while worrying about rising costs and shortages. Increased consumer…
Janet Yellen denies trying to reduce spending in Biden’s American Rescue Plan
Rep. David Kustoff, R-Tenn., says Treasury Secretary Yellen was forced to ‘advocate’ for Biden’s policies knowing they’d created inflationary pressures. U.S. Treasury Secretary Janet Yellen refuted reports that she sought to reduce…
Fed chairman contradicts Biden, says Russia’s Ukraine invasion not the main inflation
Thomas Hoenig, the former Kansas City Federal Reserve president, weighs in, arguing that a 'recession is a fair call.' Federal Reserve Chairman Jerome Powell on Wednesday appeared to contract President Biden’s repeated insistence…