ECB Lagarde plays down recession risks at Sintra Forum

European Central Bank President Christine Lagarde said the central bank can raise rates faster, if needed. Handout | Getty ImagesNews | Getty Images European Central Bank President Christine Lagarde on Tuesday played down concerns about a recession in the euro zone, also saying her team is ready to raise rates at a faster pace — … Read more

More than half of Americans live paycheck to paycheck amid inflation

With inflation at 40-year highs, workers across all income levels are having a harder time making ends meet. As of May, 58% of Americans — roughly 150 million adults — live paycheck to paycheck, according to a new LendingClub report. That’s down slightly from 61% who reported living paycheck to paycheck in April but up … Read more

Investors should learn from past bear markets

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, June 22, 2022. Brendan Mcdermid | Reuters The stock market bounce in recent days is just a relief rally and investors should avoid getting sucked back in, according to Trevor Greetham, head of multi-asset at Royal London Asset … Read more

G-7 set to back pursuing Russian oil price cap, tariff hikes

ELMAU, Germany (AP) — The Group of Seven economic powers are set to commit themselves to supporting Ukraine for the long haul, with the US preparing to announce the purchase of an advanced surface-to-air missile system for Kyiv. Leaders are also set to announce an agreement to pursue a price cap on Russian oil, raise … Read more

European markets open to close, data, earnings, G-7, Ukraine

LONDON — European stocks moved higher on Monday, continuing a positive trend seen at the end of last week’s trading. The pan-European Stoxx 600 index added 0.7% in early trade, with basic resources jumping 2.9% to lead gains as all sectors and major bourses entered positive territory. The higher open on Monday comes after the … Read more

Biden urges Western unity on Ukraine amid war fatigue

ELMAU, Germany (AP) — President Joe Biden and western allies opened a three-day summit in the Bavarian Alps on Sunday attempt on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression. Britain’s Boris Johnson warned the leaders not to give in to “fatigue” even as Russia … Read more

Did corporate greed fuel inflation? It’s not biggest culprit

WASHINGTON (AP) — Furious about surging prices at the gas station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of Representatives last month passed on a party-line vote — most Democrats … Read more

How much savings drivers saw in 3 state breaks

President Joe Biden remarks on efforts to lower high gas prices at the Eisenhower Executive Office Building in Washington, DC on June 22, 2022. JimWatson | AFP | Getty Images President Joe Biden has called on Congress to put a three-month federal gas tax holiday in place to help ease the financial pain drivers are … Read more

The interest rates on savings accounts rise in wake of Fed hikes

There’s a silver lining to higher interest rates: Stashing some cash finally pays. Soaring inflation, which pushed the Federal Reserve into hiking its benchmark rate, is having an effect on the return savers stand to get on their money, at long last. While the Fed has no direct influence on deposit rates, they tend to … Read more

Consumer sentiment survey followed by the Fed shows inflation expectations ease slightly

A shopper inside a women’s clothing store in the East Village neighborhood of Des Moines, Iowa, on Saturday, Feb. 5, 2022. Katherine Gamble | Bloomberg | Getty Images A widely followed consumer sentiment survey released Friday showed inflation expectations have eased slightly. The University of Michigan’s Surveys of Consumers said consumers expect inflation to rise … Read more