Opinion: The Fed is missing a crucial turning point in its fight against inflation because it believes in flawed data

The Fed can’t see the next potential economic meltdown because it’s still looking in the rear-view mirror, seeing nothing but High inflation. The risk arises because the CPI and PCE – the two most important measures of inflation – have a fatal flaw in the way they measure shelter costs. “ If you get your … Read more

Luxury homes down 28% as the rest of the market falls 19.5%

Luxury home sales are down 28 percent in the US, with regular market sales also down 19.5 percent as Federal Reserve interest rates rise and inflation is rampant. Luxury home sales saw their biggest year-on-year decline in August since the pandemic brought the housing market to a standstill in 2020, sending sales down 23.2 percent, … Read more

China’s growth is lagging behind the rest of Asia for the first time since 1990

China’s economic output will lag behind the rest of Asia for the first time since 1990, according to a new World Bank forecast that highlights the damage done by President Xi Jinping’s non-proliferation policies and the collapse of the world’s largest property market. The World Bank revised its forecast for gross domestic product growth in … Read more

Seven economic wonders of an anxious world

Head writer of Rockefeller International In such bleak periods, when commentators see nothing but the faults of most countries, it is worth highlighting the few who defy prevailing pessimism. Here are seven of them that stand out in a world heading into recession and high inflation: Vietnam, Indonesia, India, Greece, Portugal, Saudi Arabia, and Japan. … Read more

Victorious Week in Saudi Arabia Reclaims the Embrace of the West

New York (AFP) – It seems that Saudi Arabia is leaving behind a torrent of negative coverage about the killing of Jamal Khashoggi. It has been snatched since 2018. The kingdom is once again enthusiastically welcomed back into the polite and powerful community, and the pursuit of Saudi investments is no longer frowned upon. or … Read more

The Fed’s fight against inflation could cost 1.2 million US jobs

However, the data does not taint the words. The Federal Reserve’s latest economic forecast was released on Wednesday In addition to the massive rise in interest rates by 75 basis points in a row for the third time in a rowIt turns out that the central bank expects the country’s unemployment rate to rise to … Read more

Estimates of epidemic unemployment fraud amount to 46.5 billion dollars

A federal watchdog found Thursday that fraudsters may have stolen $45.6 billion from the nation’s unemployment insurance program during the pandemic, using Social Security numbers for the dead and other methods to deceive and corrupt the US government. The new estimate is a dramatic increase from about $16 billion in potential fraud identified a year … Read more