Tag: economy
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Crypto investors’ hot streak ends as harsh ‘winter’ descends
The wealth-generating hot streak for bitcoin and other cryptocurrencies has turned brutally cold. As prices plunge, companies collapse and skepticism soars, fortunes and jobs are disappearing overnight, and investors’ feverish speculation has been replaced by icy calculation, in what industry leaders are referring to as a “crypto winter.”
How much for gas? Around the world, pain is felt at the pump
At a gas station near the Cologne, Germany, airport, Bernd Mueller watches the digits quickly climb on the pump: 22 euros ($23), 23 euros, 24 euros. The numbers showing how much gasoline he’s getting rise, too. But much more slowly. Painfully slowly.
Fed attacks inflation with its largest rate hike since 1994
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession.
Asian stocks follow Wall St lower on economy fears
Asian stock markets were mostly lower Friday after Wall Street fell on fears interest rate hikes will depress global economic activity.
AP Interview: Biden says a recession is ‘not inevitable’
President Joe Biden said Thursday the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline prices that are slamming family budgets.
