The general election in Italy could add some more trouble to Europe’s heap of existing troubles including the war in the east, the hot inflation and the looming energy crisis.Forecasts indicate that power in Italy could be driven to the far-right coalition led by Giorgia Meloni from “the Brothers of …

US stocks fell on Thursday, for the third successive day after the Fed delivered another aggressive 75 base point rate hike. The monetary policy decision, originally meant to encounter hot inflation, triggered anew fears that the US economy could fall into a recession.The Dow Jones Industrial Average was last down …

A spokesperson for the US Treasury said on Thursday that they acknowledge the Bank of Japan’s intervention in the foreign exchange market.“The Bank of Japan today intervened in the foreign exchange market. We understand Japan’s action, which it states aims to reduce recent heightened volatility of the yen,” the spokesperson …

Three major US banks are raising their prime lending rates to the highest levels since the global financial crisis of 2008, following Fed’s interest rate hike.JPMorgan Chase & Co (JPM.N), Citigroup Inc and Wells Fargo & Co (WFC.N) said the new rates, including the latest 75 basis point hike, would …

Consumer confidence in the eurozone retreated to record low in September amid accelerating concerns about increased costs of living and slowdown of the EU economy. The European Commission said Thursday that its measure of consumer confidence in the region fell by 3.8 points in September from the August reading. The …

The dollar solidified its gains after the Fed triggered volatility and sour market sentiment across the board. As anticipated, the US central bank hiked the benchmark rate by 75 bps to 3.25%, while policymakers maintained their determination to bring inflation down to the 2% target. US Treasury yields soared. The …

The dollar soared to two-decade high on Wednesday after the Federal Reserve raised interest rates by another 75 basis points signaling more large increases at its coming meetings.The dollar’s gains were limited since the Fed decision was widely expected. Since US rates will be higher for longer, the trend remains …

Stocks fell in volatile trading Wednesday after the Federal Reserve raised rates by 75 basis points and forecast more sizable rate hikes ahead in its fight to tame surging inflation.The Dow Jones Industrial Average slid 522.45 points, or 1.7%, to close at 30,183.78. The S&P 500 shed 1.71% to 3,789.93, …

FOMC Chairman Jerome Powell has commented on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 75 basis points to the range of 3-3.25% following the September policy meeting.Key Quotes“There is a fairly large group that would see 100 bps by year-end”.“Median policymaker sees 125 …

FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 75 basis points to the range of 3-3.25% following the September policy meeting.Key quotes“Plausible that job openings could come down without as much of increase in unemployment”.“Longer run inflation expectations …