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economics

Talks towards international panel to tackle 'inequality emergency' begin at UN

Talks towards international panel to tackle 'inequality emergency' begin at UN

Talks towards creating a new international panel to address extreme wealth disparities, modelled on the United Nations' Intergovernmental Panel on Climate Change (IPCC), opened in Geneva on Monday. The founding committee of the new International Panel on Inequality (IPI), made up of country representatives and inequality experts including Nobel

Stagflation risk in US 'quite high': Nobel-winning economist Stiglitz

Stagflation risk in US 'quite high': Nobel-winning economist Stiglitz

The war in the Middle East has put the United States at high risk of falling into stagflation, Nobel Prize-winning economist Joseph Stiglitz told AFP on Monday. Even before the war erupted on February 28 with a barrage of US and Israeli strikes on Iran, Stiglitz said the US

Central banks meet as Mideast war fuels inflation fears

Central banks meet as Mideast war fuels inflation fears

Some of the world's biggest central banks meet this week as fears grow the energy shock unleashed by the Middle East war could fuel inflation and weigh on growth. The US Federal Reserve, European Central Bank, Bank of England and Bank of Japan hold previously scheduled meetings on

US Fed expected to hold rates steady as Iran war roils outlook

US Fed expected to hold rates steady as Iran war roils outlook

US Federal Reserve policymakers are expected to leave interest rates unchanged at their meeting next week, as the US-Israel war on Iran sends shock waves through markets and recent economic data has begun to show weakness. The Fed will start its two-day meeting on Tuesday, with an announcement

US economic growth sharply lower than estimated in fourth quarter

US economic growth sharply lower than estimated in fourth quarter

The US economy grew at a significantly slower pace than initially estimated for the final months of 2025, government data showed Friday, a major downgrade that comes as fallout from war in the Middle East looms. US GDP rose at an annual rate of 0.7 percent in the fourth

US Fed's preferred inflation gauge edges down

US Fed's preferred inflation gauge edges down

The US Federal Reserve's preferred inflation gauge came in slightly lower than expected in January, registering 2.8 percent growth over a year ago, according to data released Friday ahead of a key central bank rate-setting meeting next week. The United States has seen stubbornly high inflation

Global Tensions Push Up Weekly Mortgage Rates

As the Iran war continues into its second week, markets remain unsettled by uncertainty over oil prices and inflation — two forces that ripple through the economy to affect mortgage rates. The average rate on a 30-year fixed-rate mortgage rose seven basis points to 5.98% APR in the