Millions of dollars are being smuggled into Afghanistan from Pakistan every day, providing some support for the squeezed economy after the US and Europe denied the Taliban regime access to billions in foreign reserves. For Islamabad, the outflows are exacerbating a rapidly developing economic crisis.
The calculus behind the People’s Bank of China’s pledge to use monetary policy to bolster the economy has been altered by the faster-than-expected recovery following the scrapping of Covid restrictions.
One of Brazil’s best-known hedge fund managers said it was stung by what it called the nation’s biggest case of corporate fraud on record with Americanas SA and joined banks in slamming the firm’s billionaire shareholders.
Federal Reserve Bank of Atlanta President Raphael Bostic said January’s strong jobs report raises the possibility that the central bank will need to increase interest rates to a higher peak than policymakers had previously expected.
Oil settled higher after slipping to the lowest intraday since early December with technical indicators signaling the commodity was oversold.
OpenAI’s Altman ‘excited’ for event at Microsoft headquarters
(Bloomberg) — In just two days, the bond market has gone from doubting the Federal Reserve to falling perfectly in line with the US central bank’s projection for a peak in interest rates north of 5% later this year.
A technical issue in a key reporting system that snarled over-the-counter stock transactions on Monday has been resolved.
The White House slammed a proposal by House Republican committee and caucus chairs to set up a panel examining Social Security and Medicare solvency as part of debt-limit negotiations, likely shutting the door on the approach.
President Joe Biden will call for quadrupling the levy on corporate stock buybacks and renew his calls for a minimum tax on billionaires during his State of the Union address Tuesday.
