The chief economic adviser for financial services firm Allianz warned that the new coronavirus variant Omicron could shake up the markets, exacerbate supply chain woes, amplify record-high inflation pressures — and possibly result in 1970s-style “stagflation.”
Three quarters of individuals in a recent poll believe that the nation will likely face an economic recession during the next 12 months, The Hill reported, citing a Hill-HarrisX survey which found that 33% view a recession as "very likely," while 42% think that a recession is "somewhat likely."
A new report from Boston Consulting Group (BCG) shows that Americans plan to spend more during this year’s Black Friday and Cyber Monday events than last year’s, suggesting retailers may be in for a windfall as the busy holiday shopping season kicks off.
China’s state-run Global Times on Sunday claimed the Kyle Rittenhouse trial “exposes the illness of the U.S. political system” and argued the not-guilty verdict proves American democracy “has failed to heal the illness of social polarization and racial divergence.”
President Joe Biden has picked Federal Reserve Chair Jerome Powell to serve a second four-year term at the helm of the central bank, while nominating Lael Brainard, the only Democrat on the Fed’s seven-member board, to serve as second-in-command at the Fed.
Emma Riley, the White House communications chief of staff, became the second in the Biden-Harris team to hand in their resignation this week when she announced that she is leaving her post for a job in the Labor Department.
A Marriott hotel in the Czech Republic declined to host a conference of activists fighting for the human rights of the Uyghur people, according to a new report. Many commentators have suggested that the company capitulated to the Communist China regime, but the hotel claims that it canceled the conference in an effort to maintain "political neutrality."
