Apple CEO Tim Cook: ‘Everybody’s seeing inflationary pressure’

Apple CEO Tim Cook attends the grand opening of a new Apple Store at The Grove on November 19, 2021 in Los Angeles, California. Mario Tama | Getty Images Apple CEO Tim Cook said the company is experiencing inflationary pressures in an interview with CNBC’s Julia Boorstin on Thursday as the company reported nearly $124 … Read more

IMF cuts global growth outlook for 2022, US and China recovery wanes

The seal for the International Monetary Fund is seen near the World Bank headquarters (R) in Washington, DC on January 10, 2022. Stefani Reynolds | AFP | Getty Images The International Monetary Fund has downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery. … Read more

Stocks drop sharply as market eyes Fed, Ukraine tensions

New York (AFP) – Stocks fell sharply on Monday as investors expected anti-inflation measures from the Federal Reserve The possibility of a conflict between Russia and Ukraine is feared. The stock market extended its decline for three weeks And it put the S&P 500 on track for what’s called a correction – a drop of … Read more

Inflation surge could push the Fed into more than four rate hikes this year, Goldman Sachs says

US Federal Reserve Chairman Jerome Powell attends his re-nomination hearing at the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill, in Washington, US, January 11, 2022. Graeme Jennings | Reuters Accelerating inflation could cause the Federal Reserve to become more aggressive than economists expect in the way it raises interest rates this … Read more

Fed’s Harker calls for ‘action on inflation,’ sees 3 or 4 rate hikes

Philadelphia Fed President Patrick Harker said Thursday that he expects three or four rate hikes this year likely to fight inflation. His reasoning, outlined in a live interview on CNBC’s “Closing Bell,” aligns with the Federal Open Market Committee’s policy-making estimates released in December. But while officials then identified the possibility of three-quarters of a … Read more

Erdogan blames Turkey’s currency woes on ‘foreign financial tools’ as central bank reserves fall

People shopping at the local market in Istanbul, Turkey on December 5, 2021. The depreciation of the Turkish lira weakened the purchasing power of the citizens. Erhan Demirtas | NurPhoto via Getty Images Turkish President Recep Tayyip Erdogan has pledged to curb his country’s soaring inflation, which stood at 36% in December, as the country’s … Read more