BEIJING (Reuters) – China’s top parliament body has approved a 1 trillion yuan ($137 billion) sovereign bond issue and passed a bill to allow local governments to frontload part of their 2024 bond quotas, state media said on Tuesday, in a move to support the economy. Funds raised from the…

Recession? Not in the U.S., says Treasury Secretary Janet Yellen. “You don’t really see any sign of recession here,” Yellen said at a Bloomberg event in Washington on Thursday, following a strong report on economic growth in the U.S. released earlier in the day. See live coverage of the GDP…

WASHINGTON (Reuters) – The White House will request another supplemental spending package this week to address child care, disaster relief, and other priorities, White House spokesperson Karine Jean-Pierre said on Tuesday. Last week, President Joe Biden asked Congress to provide $106 billion in supplemental funding, with the bulk of the…

The rate of U.S. inflation is slowing, but it’s not going to slow as quickly as earlier in the year. The so-called core PCE price gauge, the Federal Reserve’s inflation tracker, is expected to show a 0.3% increase in September. The core rate, which omits food and energy, is seen…

BlackRock (NYSE:), a global investment management corporation, has voiced concerns over an impending economic downturn that could significantly impact stocks due to earnings stagnation, inflation, and high interest rates. The firm’s strategists argue that despite investors adapting to increased market volatility, stocks haven’t fully accounted for the expected macroeconomic damage.…

Jamie Dimon, the CEO of JPMorgan Chase (NYSE:), expressed skepticism about the accuracy of central banks’ economic predictions at the Future Investment Initiative (FII) conference and the Saudi Arabia Financial Forum on Tuesday. He criticized their significant miscalculations 18 months ago under the Biden administration and their delayed response to…

Shadow Chancellor Rachel Reeves, widely expected to be the next head of the U.K. Treasury after an election that could come next year, was accused of plagiarism in a book she authored. Reeves’ The Women Who Made Modern Economics contains at least 20 examples where entire sentences and paragraphs were…

Karl Schamotta, an expert from Corpay, recently shared his insights into the possible actions of the Bank of Canada and the Federal Reserve. Today, in a discussion with Larysa Harapyn, he suggested that the Bank of Canada might adopt a cautious ‘hawkish hold’ stance, indicating reluctance to raise interest rates.…

Jamie Dimon, CEO of JPMorgan, has expressed skepticism about the effectiveness of central banks’ economic forecasts in navigating potential economic turbulence. Speaking at the Future Investment Initiative Summit, Dimon urged preparedness for diverse economic outcomes and criticized the excessive reliance on governments and central banks to steer through economic challenges.…

SAN JOSE (Reuters) – Costa Rica’s attorney general’s office has opened an investigation into the disappearance of some $6 million at the Central American country’s largest commercial bank, bank officials said on Tuesday. The 3.3 billion colones ($6.2 million) in question were first detected missing at the National Bank of…