The International Monetary Fund cuts its global GDP forecast as bleak economic prospects grow

The International Monetary Fund on Tuesday lowered its global growth forecasts for 2022 and 2023, calling the global economic outlook “bleak and uncertain”. The International Monetary Fund now expects the global economy to grow 3.2% this year, before slowing further to 2.9% in the rate of GDP in 2023. The revisions point to rating downgrades … Read more

Jerome Powell and the Federal Reserve are still struggling to understand the crazy economy that has been hit by the pandemic and war

In terms of news related to the economy and inflation, this is an important week. On Tuesday and Wednesday, Jerome Powell and his Fed colleagues will hold a two-day meeting, in which they are expected to raise the federal funds rate by another three-quarters of a percentage point. On Thursday, the Commerce Department will release … Read more