European Central Bank raises rates by a quarter percentage point, says inflation set to remain ‘too high for too long’
The European Central Bank on Thursday announced a new rate increase of 25 basis points, bringing its main rate to 3.75%
GDP grew at a 2.4% pace in the second quarter, topping expectations despite recession calls
Gross domestic product was expected to increase at a 2% annualized pace in the second quarter.
What new norm of slower Chinese growth could mean for the global economy
The Chinese economy could be facing a period of lower growth, which may have global ramifications after 45 years of rapid expansion and globalization.
Federal Reserve officially launches new FedNow instant-payments service
The system will be available 24 hours, seven days a week and is open to interested banks and credit unions.
UK inflation rate slides to 7.9% in June, below expectations
U.K. inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually.
Fed banking regulator warns A.I. could lead to illegal lending practices like excluding minorities
Michael S. Barr said AI technology has potential, but also can be used for nefarious means.
Goldman Sachs cuts odds of a U.S. recession in the next year
The investment bank, however, expects some deceleration in subsequent quarters as a result of sequentially slower real disposable personal income growth.
The war against inflation is a long way away from being won
Despite recent signs that inflation is cooling, the fight to bring down the meteoric price increases of the past three years is far from over.
Strategist David Roche says we’ll avoid a global recession, central banks will ‘change the goalposts’
Central banks will "change the goalposts without really saying so," on monetary policy, according to veteran strategist David Roche.