Last October, in the village of Yoshida, I stood in front of a tatara, a huge open oven filled with charcoal that raged with such controlled ferocity that it could have been a permanent fixture in Lucifer’s bedroom. Deep in the belly of those orange flames was a growing and shredding ingot containing an exceptionally…
Workers deliver drinks to a pub in the City of London, Britain, on Tuesday, April 16, 2024. Bloomberg | Bloomberg | Getty Images Inflation in the U.K. fell to 3.2% from 3.4% in March, the Office for National Statistics said on Wednesday, but a series of higher-than-expected numbers prompted investors to increase their bets on…
President Biden on Wednesday called for significant increases in some tariffs on steel and aluminum products from China and spoke to members of a national steel workers union in Pittsburgh as he vied with former President Donald J. Trump for votes in northern industrialized states. “These are strategic and targeted actions that will protect American…
One of the International Monetary Fund’s top economists is signaling a low risk of a global recession despite ongoing geopolitical uncertainty. The Washington DC-based institute this week slightly raised its global growth outlook to 3.2% in 2024 and forecast the same rate in 2025. “If we do the risk assessment around that baseline, the likelihood…
Last fall, the United Automobile Workers union won major wage increases at Detroit automakers, and the impact quickly spread to nonunion auto plants throughout the South. Afterwards, Toyota, Honda, Volkswagen, Nissan, Hyundai and Tesla increased wages for their own hourly workers in the United States, none of whom are unionized. On production lines in Alabama,…
Financial Advisor and Director of the Department of Monetary and Capital Markets, Tobias Adrian, delivers the press conference on the Global Financial Stability Report at the International Monetary Fund during the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC. United States on April 16, 2024. Anadolu…
At a meeting outside Paris last week, top officials from France, Germany and Italy pledged to pursue coordinated economic policies to counter increased efforts by Washington and Beijing to protect their own domestic companies. The three European countries have joined the parade of other countries enthusiastically embracing industrial policy – the collective term for a…
Crowds of people walk under neon signs on Nanjing Road. The street is the city’s main shopping district and one of the busiest shopping districts in the world. Nikada | E+ | Getty Images The International Monetary Fund slightly raised its global growth forecast on Tuesday, saying the economy had proven “surprisingly resilient” despite inflationary…
Federal Reserve Bank Chairman Jerome Powell speaks during a press conference at the bank’s William McChesney Martin Building on March 20, 2024 in Washington, DC. Chip Somodevilla | Getty Images The U.S. economy could be headed for stormy waters in 2025 if the Federal Reserve doesn’t take action on interest rates soon, State Street’s head…
Rising inflation in March didn’t deter consumers, who shopped faster than expected, the Commerce Department reported Monday. Retail sales rose 0.7% for the month, significantly faster than the Dow Jones consensus forecast of a 0.3% rise but below the upwardly revised 0.9% in February, according to Census Bureau data, which is seasonally adjusted. but are…
