Economy

Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Thursday he will need to see more evidence that inflation is cooling before he is willing to support interest rate cuts.

Taylor Swift performs onstage at Lumen Field in Seattle on July 22, 2023. Mat Hayward/tas23 | Getty Images Entertainment | Getty Images The devil’s in the details, but local economies have a friend in Taylor Swift. The American pop star has spent nearly a year crossing the U.S. and the globe with her high-flying Eras

A construction site with new apartments in newly built apartment buildings. Patrick Pleul | Picture Alliance | Getty Images Germany’s housebuilding sector has gone from bad to worse in recent months. Economic data is painting a concerning picture, and industry leaders appear uneasy. “The housebuilding sector is, I would say, a little bit in a

Turkish flag over a DenizBank building. Turkey is expected to head to the polls on Sunday. Ismail Ferdous | Bloomberg | Getty Images Turkey’s central bank held its key interest rate on Thursday, keeping it at 45% despite soaring inflation after eight consecutive months of hikes. The move was widely expected as the bank indicated

Robert Habeck, German Minister for Economy and Climate Protection and Vice Chancellor, is pictured during the weekly meeting of the cabinet on February 21, 2024 in Berlin, Germany. Florian Gaertner | Photothek | Getty Images Germany’s gross domestic product is now expected to grow by just 0.2% this year, as the country wades in “tricky

An Israeli national flag above produce for sale at Carmel Market in Tel Aviv, Israel, on Nov. 7, 2023. Bloomberg | Bloomberg | Getty Images Israel’s gross domestic product shrank nearly 20% in the fourth quarter of 2023, according to official figures. The contraction was significantly larger than expected, as analysts predicted a contraction of

Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom.  Mike Kemp | In Pictures | Getty Images The Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half of the year,

A general view of a kiosk near Charing Cross station in London, England, on January 20, 2024. (Photo by Alberto Pezzali/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images LONDON — Stronger-than-expected January retail sales provided a glimmer of light for the struggling British economy on Friday — and suggest that the country’s recession

Wholesale prices rose more than expected in January, further complicating the inflation picture, according to a U.S. Department of Labor report Friday. The producer price index, a measure of prices received by producers of domestic goods and services, rose 0.3% for the month, the biggest move since August. Economists surveyed by Dow Jones had been

Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday. Advance retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones were looking for a

Pro-EU demonstrators protest outside Parliament against Brexit on the fourth anniversary of Britain’s official departure from the European Union in London, United Kingdom on January 31, 2024. Future Publishing | Getty Images LONDON — Post-Brexit Britain has “significantly underperformed” other advanced economies since the 2016 EU referendum, according to new analysis from Goldman Sachs, which

Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday. The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that

DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai’s World Governments Summit. “China’s biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic

Kristalina Georgieva, managing director of the International Monetary Fund, at a press conference at the IMF Headquarters on April 14, 2023. Kevin Dietsch | Getty Images News | Getty Images DUBAI, United Arab Emirates — The head of the International Monetary Fund warned the Russian economy is still facing significant head winds despite receiving a

Federal Chancellor Olaf Scholz (SPD, r-l), Robert Habeck (Alliance 90/The Greens), Federal Minister for Economic Affairs and Climate Protection, and Christian Lindner (FDP), Federal Minister of Finance, follow the debate at the start of the budget week. Michael Kappeler | Picture Alliance | Getty Images Good news has been sparse for the German economy. And

People shop in a supermarket in the Manhattan borough of New York city on January 27, 2024. Charly Triballeau | AFP | Getty Images The prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday. Updates to the consumer price index

Many Chinese developers have halted or delayed construction on presold homes due to cash flow problems. Pictured here is a property construction site in Jiangsu province, China, on Oct. 17, 2022. Future Publishing | Future Publishing | Getty Images China’s economy is sputtering. Its property market is crumbling, deflationary pressures are spreading across the nation,

A tram passes shoppers as it travels along Istiklal Street in the Beyoglu district of Istanbul, Turkey, on Tuesday, Dec. 19, 2023. Bloomberg | Bloomberg | Getty Images In January, Turkish inflation logged its biggest monthly jump since August with a 6.7% rise from December, while year-on-year inflation hit nearly 65%, according to the Turkish