Davos 2023: Recession overshadows the opening of the World Economic Forum summit

DAVOS, Switzerland (Reuters) – The prospect of an imminent global recession cast a long shadow over Davos on Monday as participants packed into the opening annual meeting of the World Economic Forum about the potential cost to their economies and businesses. Two-thirds of the leading private and public sector economists surveyed by the World Economic … Read more

Inflation in the United States is subsiding as consumer prices fall; The job market is still tight

Consumer prices fell 0.1% in December The Consumer Price Index increased by 6.5% year-on-year Core CPI rose 0.3%; 5.7% increase year-on-year Weekly jobless claims drop from 1,000 to 205,000 WASHINGTON (Reuters) – American consumer prices fell for the first time in more than two-and-a-half years in December amid lower gasoline and auto prices, giving hope … Read more

The Bank of Japan faces more tests to control yields as inflation picks up

The Bank of Japan discusses market distortions, and many fear further action The Bank of Japan decided to keep its short- and long-term interest rate targets stable The Board saw inflation expectations raised in a new quarterly report Governor Kuroda is likely to brief the media at 0630 GMT TOKYO (Reuters) – The Bank of … Read more

The US labor market is advancing, but wage growth is losing momentum

Nonfarm payrolls increased 223,000 in December Unemployment rate down to 3.5% from 3.6% high rates of domestic workers; High workforce earning average hourly earnings of 0.3%; An increase of 4.6% year-on-year WASHINGTON, Jan. 6 (Reuters) – The U.S. economy added jobs by a strong measure in December, pushing the unemployment rate back to a pre-pandemic … Read more

Brazil’s markets have improved despite mounting criticism of Lula’s plans

SAO PAULO (Reuters) – Brazilian financial markets rose on Wednesday even as criticism grew of President Luiz Inacio Lula da Silva’s economic policies, with analysts and a leading newspaper slamming ministers after markets plunged in the leftist’s first two days in office. Brazil’s real currency and stock market rose after Lula’s chief of staff, Rui … Read more