economy
China’s Housing Slowdown Is Bad News for Western Steel
The grim state of China’s housing market has so far had little effect on the iron ore price because its steel mills are diverting their surplus output onto export markets...
Problem for the U.S. Economy? Interest Rates Won’t Get Slashed Anytime Soon
If there’s one thing you can say about Fed policymakers, it’s that they don’t make decisions on a whim. When the Federal Open Market Committee met on Jan. 31, 2024,...
Sri Lanka’s Economic Crisis Is Just the Beginning
Sri Lanka is facing a full-blown economic crisis as the country is cash-strapped and unable to finance its imports. The fact that the government had to cancel recent school examinations...
China Decries U.S. ‘Economic Bullying’ Over Xinjiang
The Chinese Ministry of Commerce has announced its “strong dissatisfaction and firm opposition” to an American ban on imports from the country’s western Xinjiang Autonomous Region. The ministry accused the...
Gas Prices Continue Dropping, Though Not as Quickly as Before
Gas prices in the United States are still much higher than they were a year ago, but this week, they’ve gone slightly lower. The average price is now $3.29 a gallon as...
Be Prepared to Collect Less Than the $4,194 Maximum for Social Security
When it comes time for retirees to start claiming Social Security benefits, a good rule of thumb often touted by financial planners and experts is to wait as long as possible. And if a person looks at the numbers,...
Elon Musk Wants to Dump the Build Back Better Bill
The $1.9 trillion “Build Back Better” legislation, which was narrowly passed by the House in November and now awaits the approval of the Senate, has been lauded as a major achievement by...
In 2022, Inflation Won’t Be Our Main Economic Problem
My years of working as an economist on Wall Street taught me that all too often the consensus economic view turns out to be very wrong. A striking instance of...
Joe Biden Should Worry: Gas Prices Drop Thanks to Omicron
A few weeks ago, most people would have been happy to hear that gas prices had dropped significantly. But now that it’s happened, most likely won’t be so happy about...
Jerome Powell To Continue as Federal Reserve Chairman
After weeks of speculation, President Joe Biden confirmed on Monday that he would re-nominate the current chairman of the Federal Reserve Bank, Jerome “Jay” Powell, to a second four-year term....
Joe Biden Should Worry: OPEC+ Braces for an Oil Price War
Officials from the Organization of the Petroleum Exporting Countries (OPEC+) cautioned on Monday that the oil cartel intended to react to plans by a handful of major nations, including both the United States and China, to...
Are Gas Prices Finally Going Down?
The average gas price in the United States rose consistently for several months, bringing prices to their highest level in years and forming a large part of the inflation picture. But now, there...