Raphael Bostic, the president of the Atlantic Federal Reserve Bank, said he does not expect any interest-rate cuts this year because he does not see inflation going down as fast as market participants believe, and if anything “we may have to go up”.
Global equity funds witnessed a fourth successive weekly outflow in the week ended May 10, hit by deadlock over the U.S. debt ceiling and lingering worries over an economic slowdown.
The financial industry has prepared for such a crisis before. But this time, the relatively short time frame for reaching a compromise has bankers on edge.
President Joe Biden’s administration and Republicans in the U.S. Congress are in talks to end their standoff over raising the $31.4 trillion debt ceiling, haggling over vastly different proposals that both claim to cut deficits by trillions of dollars.
President Joe Biden and congressional Republicans enter a critical week for debt-ceiling talks hoping they can find common ground on spending levels and energy regulations to avert a devastating default.
Hong Kong headquartered SC Lowy, which invests in high yield and distressed credits, plans to open an office in the UAE capital Abu Dhabi amid growing opportunities in the Middle East region, its new regional head said on Monday.
Providing equitable access to appropriate housing in slums and other informal settlements could massively increase economic growth and boost life expectancy, a report to be published on Tuesday by home-building charity Habitat for Humanity shows.
