Global recession
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It’s all going up: electricity, diesel, vegetables, the Internet, hotels, flights, and now, interest rates. The war in Ukraine, the on-and-off lockdowns in China, a persistent power crunch and disrupted production chains have bumped into a huge appetite for goods and services, upsetting the delicate balance between supply and demand and driving prices to record…
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International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Saturday warned officials from the Group of 20 major economies to take urgent action to combat inflation, warning that the “exceptionally uncertain” global economic outlook could turn worse if higher prices persisted. Georgieva, speaking at a G20 finance officials meeting in Indonesia, said the conflict in…
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Unemployment in the U.S. is swelling to levels last seen during the Great Depression of the 1930s, with 1 in 6 American workers thrown out of a job by the coronavirus. More than 4.4 million laid-off workers applied for unemployment benefits last week, the government said Thursday. In all, roughly 26 million people — the…
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