Putin, who started the full-scale invasion of Ukraine in February 2022 and has suffered recent setbacks on battlefield, last week ordered the mobilization of 300,000 troops. The decision triggered sporadic protests throughout the country, amid fears the government will close the border for draft-aged men.
West Texas Intermediate was steady near $84 a barrel, and down almost 2% for the week. The Federal Reserve gave its clearest signal yet that it’s willing to tolerate a US recession as the necessary trade-off for regaining control of inflation, while the UK, Norway and South Africa also followed with hikes.
For starters, China is now the biggest trading partner of the US, Japan and countries across Europe. An agreement without Beijing’s participation would likely be an ineffective deal and while the yuan is under pressure versus the dollar and the government there is leaning against weakness with its fixings, it’s far from distressed levels that … Read more
Here are key takeaways from the Federal Reserve’s interest-rate decision and economic projections on Wednesday: Fed raises its main rate 75 basis points, as anticipated, to a range of 3% to 3.25%, while new projections from officials show a median estimate of 4.4% at the end of 2022 and 4.6% at the end of 2023 … Read more