Rolling coverage of the latest economic and financial news
- Yellen says US recession not ‘inevitable’ but expects ‘economy to slow’
- Bitcoin value slumps below $20,000 in cryptocurrencies turmoil
- House prices in Great Britain hit record high but falls predicted this year
- UK proposes tighter regulation of buy-now-pay-later credit agreements
Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.
Fears of a possible global recession weigh over global stock markets today, as economic data sours and inflation continued to climb.
“It’s natural now that we expect a transition to steady and stable growth, but I don’t think a recession is at all inevitable.”
The market last week just painted a typical recession picture that ticked almost all the boxes: inflation is flying to the roof, interest rates are non-stop rising, two major US stock indices [S&P 500 and Nasdaq] are trapped in the bear market (with the 3rd one on the way) and investors are selling shares of the best companies.
Last but not least, commodity prices start to drop.
“The Fed is ‘all in’ on re-establishing price stability.”
