The IEA slashed its forecast for world oil demand growth next year by more than 20%. Citing further downgrades to global growth expectations from major institutions. Saudi Arabia and the White House are at odds over the cartel’s plan to cut oil production by 2 million barrels per day, or around 2% of world oil … Read more
The Fed is undertaking one of its fastest-ever shifts. The central bank is trying to control inflation. Barkin says he expects inflation to come down. Thomas Barkin, Richmond Federal Reserve president said that the U.S. economy is easing back as buyers are rocked by expansion and pandemic-driven interest for products gets back to additional ordinary … Read more
The number of people working part-time hit a 21-year low. Transportation and warehousing have three-quarters of a million new positions. Wages, overall, continue to rise, and there is no indication that companies are cutting hours. Inflation at 40-year highs is doing little to staunch consumer fears of a downturn. Jay Baker isn’t stressed over a … Read more
