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US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
ft.com/content/3b819571-662d-4185-9ca5-c7e682b55700
Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
bbc.com/news/business-68833077
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...
ft.com/content/14e6a4d4-8be7-46cf-bb51-8445b0e85dc1
Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
ft.com/content/0d098011-0ff5-4125-8cbb-5a5b281c9bd0
Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
Govt sticking with plan to cut fuel subsidies this year, says Rafizi: PETALING JAYA: Fuel subsidies will be cut this year to reduce the national fiscal deficit ...
thestar.com.my/news/nation/2024/04/17/govt-sticking-with-plan-to-cut-fuel-subsidies-this-year-says-rafizi
Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
axios.com/2024/04/13/biden-trump-inflation-worse-tariffs
Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
- The White House warns that inflation would worsen if Trump is re-elected as a strategy to sway voters.
- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
March's inflation data had good and bad news about food: It's getting increasingly cheaper to eat at home.
axios.com/2024/04/10/march-cpi-food-inflation
Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
ft.com/content/bdd37729-8225-4f52-ae88-a7edeb329bb5
US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
ft.com/content/7d1199bb-8283-49c3-801e-249938bcbae8
Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
ft.com/content/7cc89622-66a7-4b1c-9b2e-138f121a4731
Basic tax-free allowance: 244,000 pensioners do not have to pay taxes: The basic tax-free allowance was increased at the turn of the year to compensate for ...
zdf.de/nachrichten/wirtschaft/rentner-deutschland-steuern-grundfreibetrag-100.html
Biden administration raises costs to drill on public lands: The Interior Department finalized a rule Friday making it more expensive for oil and gas producers to ...
thehill.com/policy/energy-environment/4590251-biden-administation-raises-costs-drill-public-lands/
Quick Glance: Biden Raises Drilling Costs on Federal Lands, Trump Courts Oil Donors
- The Biden administration has finalized a new rule requiring oil companies to pay at least ten times more for drilling on federal lands to generate more revenue for taxpayers.
- While Trump discusses easing drilling regulations with energy executives, the US is historically pumping a lot of crude oil, complicating regulations for Trump and Biden's climate agenda.
- The rule mandates higher bonds and royalties for fossil fuels on federal lands to better compensate taxpayers and cover the costs of cleaning up abandoned wells.
- In addition to reshaping fossil fuel production on federal lands, the administration has advanced renewable energy development on these tracts and significantly reduced rents and fees for clean energy projects.
The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
npr.org/2024/04/12/1244273973/forever-stamp-cost-price-going-up-usps-postage
California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...
businessinsider.com/california-fast-food-20-minimum-wage-restaurant-raise-pay-compete-2024-4
Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay
- A restaurant owner in California plans to raise wages to compete with the $20 per hour pay for fast-food workers.
- Legislation is expected to drive up wages in various sectors as they strive to attract and retain employees.
- The increased minimum wages worsen the existing challenges faced by independent restaurants in California.
- Implementing price changes, cost-cutting strategies, and reduced operating hours could be potential measures to streamline operations.
International Monetary Fund: Germany in last place among industrialized nations (again)
spiegel.de/wirtschaft/unternehmen/internationaler-waehrungsfonds-senkt-erneut-wachstumsprognose-fuer-deutschland-a-49d8a54b-1dbe-4406-a72b-604e1115b2b4
Wall St Week Ahead Surging US energy shares reflect robust growth, inflation worries
reuters.com/markets/us/wall-st-week-ahead-surging-us-energy-shares-reflect-robust-growth-inflation-2024-04-12/
Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
smh.com.au/politics/federal/business-defaults-soar-as-australian-house-prices-outpace-the-globe-20240416-p5fk42.html
Auto insurance premiums are skyrocketing. What's to blame?: Inflation accelerated more than expected in March, and an unsuspecting culprit may be to blame: auto ...
foxbusiness.com/economy/auto-insurance-premiums-are-skyrocketing-whats-blame
What the key interest rates mean for savers: Inflation is falling - the ECB is heading for a possible first interest rate cut. Consumers could already be feeling ...
zdf.de/nachrichten/wirtschaft/ezb-leitzinsen-banken-sparer-kredite-100.html
Did your car insurance rate go up a lot even though you don’t drive much?: Drivers nationwide are facing the biggest car insurance rate increases since 1976.
cnn.com/2024/04/12/business/car-insurance-rate-go-up/
How California fast food restaurants raised menu prices in response to $20 minimum wage
nypost.com/2024/04/16/business/california-fast-food-restaurants-raised-prices-due-to-minimum-wage/
Consumer spending shoots up on higher prices amid declining sales in retail sector
standardmedia.co.ke/enterprise/article/2001493354/consumer-spending-shoots-up-on-higher-prices
Gold is back — and it has a message for us: The precious metal’s surge may herald a whole new world
ft.com/content/bdcb7d8a-e958-4910-9d1b-a6a519812503
Why is beer so expensive?: Inflation for most goods and services has been falling since late 2022, but the price of beer has risen at its fastest rate in decades ...
smh.com.au/politics/federal/why-is-beer-so-expensive-20240411-p5fj5n.html
Ringgit opens higher despite greenback strength: KUALA LUMPUR: The ringgit opened higher against the US dollar today although the greenback’s appeal as a ...
thestar.com.my/business/business-news/2024/04/17/ringgit-opens-higher-despite-greenback-strength
Concern for Bank of England as real earnings growth at highest rate since 2021: While the wage figures are good news for households on the face of it ...
news.sky.com/story/real-earnings-growth-at-its-highest-rate-in-nearly-two-and-a-half-years-13116319
Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England
- An unexpectedly weaker decline in the pace of wage increases has led to real earnings growth reaching its highest level in nearly two and a half years when considering inflation, according to the latest official data.
- Recent official figures indicate that average regular pay without bonuses was at 6% in the three months to February compared to the previous year.
- The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.
- The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.
Wall Street traders keep underestimating America’s economic strength: It's the exact opposite of what happened in the 2010s
axios.com/2024/04/14/stock-market-bonds-interest-rates-us-economy
Why child care costs are soaring: Wages in the industry have risen fast in the last few years — but they're still pretty low.
axios.com/2024/04/16/child-care-costs
Here are the tax brackets to file your 2023 taxes: The tax brackets for Americans will shift upward for tax year 2023, following a series of rule adjustments to ...
thehill.com/business/4595268-here-are-the-tax-brackets-to-file-your-2023-taxes/
When will Americans see those interest-rate cuts?: Following a nasty surprise, some now think they may come only after the presidential election
economist.com/finance-and-economics/2024/04/10/when-will-americans-see-those-interest-rate-cuts
Trump to host rally on Biden's home turf in northeast Pennsylvania: Donald Trump’s rally in northeast Pennsylvania, an area President Joe Biden considers home ...
abcnews.go.com/Politics/wireStory/trump-host-rally-bidens-home-turf-northeast-pennsylvania-109189340
The shadow of war darkens on the global economy: Short-term performance has been surprisingly good but policymakers are walking on eggshells
ft.com/content/31158ec7-433b-4c0e-9f2e-8a13e8dd4750
Is It Time To Buy Gold Stocks And ETFs As Gold Futures Hit A High? Here's What Charts Show
investors.com/research/gld-stock-a-buy-right-now-heres-what-charts-show-2/
Multinational giants urged to front supermarket inquiry for ‘playing hardball’: Australian retailers have turned their sights on global suppliers such as Nestle ...
smh.com.au/business/companies/multinational-giants-urged-to-front-supermarket-inquiry-for-playing-hardball-20240411-p5fj6q.html
The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us.: There is no single formula for how much you need to save in your 401(k).
on.wsj.com/3J2sYeI
Coping with higher prices on smaller portions and chicken nuggets: The past few years have been tough financially for many of us, and it’s potentially changing ...
smh.com.au/business/the-economy/coping-with-higher-prices-on-smaller-portions-and-chicken-nuggets-20240411-p5fj5t.html
Biden heading to his Pennsylvania hometown to talk taxes: Despite the healthy job market, a near-record-high stock market and a decline in inflation ...
pennlive.com/politics/2024/04/biden-heading-to-his-pennsylvania-hometown-to-talk-taxes.html
Why the US dollar is setting off alarm bells around the world: Suddenly, tension and uncertainty have gripped financial markets, making them highly volatile.
theage.com.au/business/markets/why-the-us-dollar-is-setting-off-alarm-bells-around-the-world-20240415-p5fjta.html
How migrant workers have contributed to strong U.S. job growth: It turns out that the influx of foreign-born adults vastly raised the supply of available workers ...
pbs.org/newshour/economy/how-migrant-workers-have-contributed-to-strong-u-s-job-growth
Why Democrats are losing Asian Americans: Asian American voters in 2024 are increasingly engaged in politics given recent inflation, crime and education ...
thehill.com/opinion/4581602-why-democrats-are-losing-asian-americans/
Inflation rate falls: That's why shopping is getting cheaper again: Food is becoming cheaper again in Germany for the first time in a long time ...
rundschau-online.de/wirtschaft/inflation-darum-wird-einkaufen-wieder-guenstiger-774416
Dow tumbles 475 points, S&P 500 suffers worst day since January as inflation woes erupt
cnbc.com/2024/04/11/stock-market-today-live-updates.html
Trump’s rally in Pa. will be the last one before his hush money trial: The presumptive Republican nominee is scheduled to speak Saturday night at the ...
pennlive.com/politics/2024/04/trumps-rally-in-pa-will-be-the-last-one-before-his-hush-money-trial.html
I saved $1,700 eating leftover food from NYC's top restaurants — here's the gourmet haul I got for mere dollars
nypost.com/2024/04/12/lifestyle/i-saved-1700-eating-leftover-food-from-nycs-top-restaurants-what-i-got/
More Malaysians seeking jobs in Singapore amid weakening ringgit, inflation: Recruiters
channelnewsasia.com/singapore/malaysians-working-jobs-ringgit-inflation-manpower-employment-4265736
Biden's bad news on inflation: Inflation is rearing its ugly head again and it's a nightmare for Biden on several fronts.
axios.com/2024/04/10/cpi-inflation-report-biden-march
Social Security's COLA estimate rises. But seniors could struggle as inflation heats up.
usatoday.com/story/money/personalfinance/2024/04/10/2025-cola-estimate-higher-inflation-social-security/73272852007/
BlackRock's Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal
cnbc.com/2024/04/12/blackrocks-larry-fink-sees-fed-cutting-rates-twice-this-year-but-missing-2percent-inflation-goal.html
Soaring prices pose threat to consumers, and Biden: Crude's flirtation with levels above $90 are both a political and economic challenge.
axios.com/2024/04/12/crude-prices-inflation-gas
When will Americans see those interest-rate cuts?: Following a nasty surprise, some now think they may come only after the presidential election
economist.com/finance-and-economics/2024/04/10/when-will-americans-see-those-interest-rate-cuts
Morning Bid: De-risking, seeking safety as Middle East tensions rise: A look at the day ahead in Asian markets.
reuters.com/markets/global-markets-view-asia-graphic-pix-2024-04-14/
U.S. consumer sentiment falls slightly as outlook for inflation worsens: Consumer sentiment about the U.S. economy has ticked down but remains near a recent high ...
nbcnews.com/business/economy/us-consumer-sentiment-falls-slightly-outlook-inflation-worsens-rcna147638
What China’s central bank and Costco shoppers have in common: Hint: it is not a fondness for cryptocurrencies
economist.com/finance-and-economics/2024/04/11/what-chinas-central-bank-and-costco-shoppers-have-in-common
UK facing food shortages and price rises after extreme weather: Heavy rain likely to cause low yields in Britain and other parts of Europe ...
theguardian.com/environment/2024/apr/16/uk-facing-food-shortages-and-price-rises-after-extreme-weather
GASTAT: Saudi annual inflation slowed to 1.6% in March: Inflation, which is measured by consumer price index, dropped to 1.6 percent during the last month of ...
saudigazette.com.sa/article/642091
Uncovering the halving’s impact on Bitcoin’s inflation rate and store of value proposition
cointelegraph.com/news/bitcoin-halving-inflation-store-of-value
Restaurants with higher prices and fewer customers: For months, the Dehoga restaurant association tried to prevent the return to 19 percent VAT on food in ...
nordsee-zeitung.de/Nachrichten/Restaurants-mit-hoeheren-Preisen-und-weniger-Gaesten-203792.html
Lagarde Says ECB Ready to Cut Rates Soon If Inflation Eases More: The European Central Bank is closing in on a reduction in interest rates as long as shocks ...
bloomberg.com/news/articles/2024-04-16/lagarde-says-ecb-moving-toward-rate-cut-if-inflation-eases-more
BJP’s poll manifesto is jumlebazi, quiet on MSP guarantee, employment and inflation: Opposition
scroll.in/latest/1066605/bjps-poll-manifesto-is-jumlebazi-quiet-on-msp-guarantee-employment-and-inflation-opposition
Neil Shearing: What You Might Be Missing About the Current Economy: A global economist weighs in on inflation, upcoming elections, and deglobalization.
morningstar.com/personal-finance/neil-shearing-what-consensus-is-missing-about-current-economy
Dr. Martens stock plunges after dour US revenue outlook : Chunky bootmaker Dr. Martens is warning of a tough year ahead. Dr. Martens shares plunged more than 30% ...
apnews.com/article/dr-martens-stock-revenue-decline-ceo-be84f545f5dbfdf623cba59c5abfea2b
Quick Glance: Dr. Martens: Issues with Chinese Competition
- Weak demand and cheap Chinese competitors impact Dr. Martens.
- Gloomy outlook for 2025 due to weak US demand.
- Lawsuit against Chinese providers Temu and Shein for trademark violations.
- Fashion industry under severe pressure from Chinese competition.
Consumers Binge Despite Higher Interest Rates, And The Fed Watches Them Nervously
seekingalpha.com/article/4684006-consumers-binge-despite-higher-interest-rates-and-the-fed-watches-them-nervously
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Economy in for a double whammy: With inflation edging towards double digits and quarterly GDP growth nearly halving year on year, pressure on consumers is ...
thedailystar.net/business/economy/news/economy-double-whammy-3587831
Cryptoverse: Bitcoin prices could soar after halving: The halving reduces new supply of Bitcoin and is expected around April 20
gulfnews.com/your-money/cryptocurrency/cryptoverse-bitcoin-prices-could-soar-after-halving-1.1713263975353
Only 6 altcoins in the top 50 have outperformed Bitcoin this year: Only six altcoins of the top 50 largest tokens by market cap; Dogecoin, Shiba Inu, Stacks, BNB ...
cointelegraph.com/news/only-six-altcoins-outperform-bitcoin-this-year
Wall Street Brunch: Oil Market In Focus After Iran Attack On Israel: Further conflict could boost oil prices and keep U.S. inflation high. Netflix highlights ...
seekingalpha.com/article/4683708-wall-street-brunch-oil-market-in-focus-after-iran-attack-on-israel
Quick Glance: Oil Prices Could Witness a 'Super Spike Well Above $100' Post Iran's Strike on Israel
- Market analysts predicted that oil prices could surge to $100 per barrel and beyond after Iran conducted an aerial attack on Israel, reigniting concerns of a regional war.
- Iran carried out an aerial attack on Israel on Saturday night, launching over 300 drones and missiles, marking the first direct military attack by Iran on the Jewish state.
- Insufficient investment renders the supply more fragile, raising the likelihood of a 'super spike well above $100' if the supply is disrupted.
- Recent months have seen oil prices rise due to trade disruptions and delays caused by maritime attacks in the Red Sea by the Houthis, who express solidarity with the Palestinian people.
India likely to experience above-normal rainfall this monsoon, says IMD: Last week, private weather forecasting agency Skymet also said that cumulative all India ...
business-standard.com/india-news/india-likely-to-experience-above-normal-rainfall-this-monsoon-says-imd-124041500985_1.html
Is it the right time to buy gold or wait as prices continue to soar: Is it the right time to buy gold as prices spiral?
timesofoman.com/article/144450-is-it-the-right-time-to-buy-gold-or-wait-as-prices-continue-to-soar
Lindner Says Germany Should Avoid Copying US IRA as It Doesn’t Reduce Inflation: German Finance Minister Christian Lindner warned his coalition partners against ...
bloomberg.com/news/articles/2024-04-17/german-finance-chief-lectures-us-on-spending-at-washington-event
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Rain check on market cheer: Although useful, monsoon forecast does not guide us about farm sector prospects
financialexpress.com/opinion/rain-check-on-market-cheeralthough-useful-monsoon-forecast-does-not-guide-us-about-farm-sector-prospects/3458954/
IRS Updates Millions of Taxpayers After Tax Day: Additional funding from the Inflation Reduction Act has improved some IRS services, the government agency has ...
newsweek.com/irs-updates-millions-taxpayers-tax-day-1890720
UK inflation falls less than expected to 3.2% in March: Rate continues to drop but economists had forecast a decline to 3.1%
ft.com/content/f70f52d1-87ac-42f9-a0c3-be3e5e88d711
Paid articlePaid
LVMH sales growth slips on luxury spending slowdown: LVMH's sales slowed in the first quarter as rising prices prompted more shoppers who aspire to own its ...
reuters.com/business/retail-consumer/lvmhs-first-quarter-sales-growth-slips-3-luxury-slowdown-2024-04-16/
This Fan-Favorite Masters 2024 Item Is Still $1.50 as Tournament Menu Appears Unscathed by Inflation
entrepreneur.com/business-news/how-much-does-food-cost-at-the-masters-menu-prices-drinks/472642
ECB's confidence in fight against inflation growing, Villeroy says: The European Central Bank (ECB) is increasingly confident that it is winning the fight ...
reuters.com/markets/europe/ecbs-confidence-fight-against-inflation-growing-villeroy-says-2024-04-13/
Egypt’s finance minister says cutting inflation is priority: CAIRO: The Egyptian government’s main priority is to reduce inflation to within the central bank’s ...
arabnews.com/node/2494536/business-economy
Mortgage Rates Keep Running Higher: Mortgage Interest Rates for April 16, 2024: Some notable mortgage rates inched up. Here's what experts say is next for ...
cnet.com/personal-finance/mortgages/mortgage-rates-go-up-for-homeseekers-mortgage-interest-rates-for-april-16-2024/
Quick Glance: Homeowners Face Prolonged High Mortgage Rates Amid Market Challenges
- Currently, mortgage rates can be above 4 percent. An anticipated rate decrease is now expected by the end of next year.
- Observers noted a trend of homeowners transitioning to fixed mortgage rates due to a high interest rate environment.
- Real estate agents highlighted challenges in finding tenants with an oversupply of apartments in the market.
- Analysts suggested that homeowners may need to endure longer periods of high mortgage rates before seeing significant declines.
El Niño has ended but the full wrath of its economic and social impact is still to come
dailymaverick.co.za/article/2024-04-16-el-nino-has-ended-but-the-full-wrath-of-its-economic-and-social-impact-is-still-to-come/
Insurers Blame Higher Premiums on Lawsuits - Bloomberg: “Social inflation” is the term they use to describe what they see as abuse of the legal system ...
bloomberg.com/news/articles/2024-04-17/insurers-blame-higher-premiums-on-lawsuits
Paid articlePaid
Grocery inflation slows in March, but price growth at restaurants remains strong: Inflation on groceries continued to slow in March, rising just 1 ...
ctvnews.ca/canada/grocery-inflation-slows-in-march-but-price-growth-at-restaurants-remains-strong-1.6848978
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