WASHINGTON— One of three Fed officials who dissented in the Fed's policy decision this week is warning that the central bank is taking an "unacceptable" risk by not paying more attention to the dangers posed by low inflation. Narayana Kocherlakota, the president of the Fed's regional bank in Minneapolis, said Friday that the Fed's failure to respond to weak...» Read More
Spending by rich Americans on luxury goods is set to grow by $26.6 billion in 2011, with the number of affluent families planning to spend more almost doubling in the past three years, a poll found Friday.
Backed by its resource-rich landscape of world class deposits, Mongolia has been coined the “Saudi Arabia of Coal” with strong parallels to previous natural resource booms around the world.
Markets are sending confusing signals to investors. The risk-on trade has boosted equities and pushed money into emerging markets, but at the same time money has poured into safe haven assets like the yen and the Swiss franc.
In 2009, as the financial crisis entered its darkest days, G20 leaders descended on London for a meeting aimed at bringing the world economy back from the brink.
It is the trillion dollar question that is stalking markets across the world. Can the global economy stand on its own two feet once the Federal Reserve, and other central banks, step back from extraordinary measures to boost growth?
“It’s the brave action of this government that has lifted our country out of the danger zone,” said UK Prime Minister David Cameron in a speech in Manchester on Monday. The problem with this message is the data just keeps getting worse.
Rising commodity prices mean investors should stay clear of consumer discretionary stocks, according to Nomura strategist Ian Scott.
Kevin Logan, chief US economist at HSBC believes the Federal Reserve created the conditions for investors to party hard. The big gains in equities, commodities and risky assets showed this policy certainly got the party going, but there are rumors that someone wants to start making coffees and pour away the rest of the punch.
EU policy makers confidently told reporters in Budapest and Frankfurt last week that Portugal will be the last euro zone member in need of a major bailout. The comments were taken with a pinch of salt by those who have watched the contagion spread from Greece, to Ireland and then on to Portugal.
The remarkable thing about all consensus forecasts is that they are so wrong so often, Richard Cookson, the CIO of Citi Private Bank said in an interview with CNBC Monday.
Fathom Consulting in London today launches a new global economic modeling system which focuses on 22 countries looking at the interaction between the real economy and financial markets. Its findings will offer support for the bulls on US growth, worry those who expect China to keep driving the global economy and scare holders of peripheral euro zone debt.
Britain's top banks are set to need more capital and ring-fence retail banking to shield taxpayers from another crisis in the most radical industry shake-up for decades, which may prompt some banks to leave.
In 10 months, the Dollar Index has lost 14% because the world keeps accumulating dollars it doesn’t want and sells them. Asian central banks are key.
European finance ministers said Portugal must make deeper budget cuts and privatize state firms in return for a bailout that could be agreed by mid-May.
While periphery euro zone countries are drowning in a sea of debt and investor reluctance, Eastern Europe – which two years ago sent shockwaves through markets – is now shining away from the limelight.
European stocks were indicated to open higher on Friday as the euro nears a 15-month high against the dollar.
Many people will applaud the ECB for having the guts and finding the room to re-establish it's inflation-fighting credibility and to step in where the Fed can not because of the state of the American housing market.
Hedge funds and other players in the lightning-speed trading phenomenon could soon be relocating to far-flung regions, or even in the middle of the world's oceans, to defy the laws of physics and ensure maximum returns.
The West's attempts to kick-start growth have opened up a 'Pandora's Box' of economic distortions that have taken the emerging world to the outer reaches of economic experimentation, according to HSBC chief economist Stephen King.
The central bank is widely expected to keep rates at their current historic low of 0.5 percent as new data released in the UK this week showed the economic recovery faltering.
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