A global pandemic, a war in Europe, climate change mandates, government policies restricting oil supply, and record high energy prices have thrown a cloud over future energy supplies, which has resulted in rising inflation and the potential for a worldwide recession. By Alex Mills A global pandemic, a […]
economic news july 2022
Slowing Global Economic Growth is Increasingly Evident, High-Frequency Data Show
Global economic growth prospects are confronting a unique mix of headwinds, including from Russia’s invasion of Ukraine, interest rate increases to contain inflation, and lingering pandemic effects such as China’s lockdowns and disruptions in supply chains. In turn, our latest World Economic Outlook, released last month, lowered our global growth […]
Biden sees economy avoiding recession, but risks remain
WASHINGTON >>President Joe Biden assured Americans today that the U.S. economy is chugging along in the holiday season, but the very strength of a new jobs report showed that high inflation remains a recession threat. At the White House, the president signed an emergency bill to avert a rail strike […]
Global economic warning lights are flashing red
“Polycrisis”: this was the description Jean-Claude Juncker gave the nexus of challenges facing the EU in 2016, when he was European Commission president. Last week the International Monetary Fund underscored how multiple clouds — including the European energy crisis, rapid interest rate rises and China’s slowdown — have been gathering […]
OPEC Plus oil production cut fuels fears of economic recession in Europe
PARIS — European economists worried about a heightened risk of recession and a bolstered Russia on Thursday, after OPEC Plus, the coalition of oil-producing nations led by Russia and Saudi Arabia, announced that it will slash oil production by 2 million barrels per day. The coalition’s plans prompted a blistering […]