Economy

Sanctions confront Russian economy with crisis of consumer shortages Placeholder while article actions load Stung by Western sanctions, Russia is starting to devolve into a secondhand economy dependent on poor substitutes, where shortages are stirring memories of the consumer wasteland that was the Soviet Union. While it may be able to find new purveyors for …

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Inflation, interest rates creating real estate ‘headwind’: Ross Perot Jr. The Perot Group Chairman Ross Perot Jr. says new home sales ‘depend on the market,’ which is facing inflation and rising interest and mortgage rates. Billionaire businessman and The Perot Group and Hillman Chairman Ross Perot Jr. predicted a real estate slowdown on “Mornings with …

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US durable goods orders rose less than expected in April International Monetary Fund Managing Director Kristalina Georgieva discusses global economic fears and how the coronavirus pandemic has impacted the world. Orders at US factories for long-lasting goods inched slightly higher in April but came in below expectations as manufacturers confronted a worsening supply-chain crisis that …

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US economy on cusp of stagflation, world’s largest hedge fund warns The Carlyle Group co-founder David Rubenstein argues The Fed is attempting to avoid stagflation and not raising interest rates ‘too much’ amid soaring inflation. The world’s largest hedge fund is sounding the alarm about a possible return to 1970s-style “stagflation,” as the Federal Reserve …

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Russia Says It Will Let Food Ships Leave Ukraine If Some Sanctions Are Lifted Russia said it would allow ships carrying food to leave Ukrainian ports if some sanctions were lifted. Ukrainian ports in the Black Sea have been blocked since Russia’s invasion. More than 20 million tons of grains are stuck in Ukraine amid …

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Former Bank of Canada Chief: Central bank ‘intentionally’ caused housing inflation, but real estate will cool – David Dodge The Bank of Canada “intentionally” caused asset prices to rise in 2020 and 2021. However, recent rate hikes will have “a cooling impact” on home prices. That’s according to David Dodge, former Bank of …

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‘It’s a dramatic shift,’ says food exec Consumers continue to grapple with inflation — and it’s leading to shifting behaviors at the grocery store. Saffron Road, which manufactures clean-label frozen food products and better-for-you meals, noticed an uptick in sales over the past few months as more shoppers gravitate toward frozen items amid the current …

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