The Latest Breaking News from Paul Volcker

Few voters may be thinking of Jerome Powell as they go to the polls in November, but all will be coping with economic conditions strongly influenced by Powell's Federal Reserve Board.

The global economy periodically experiences steep movements in commodity prices, causing cyclic booms and busts. These are called commodity cycles, a complex process emerging from macroeconomic shocks, supply chain bottlenecks, and policy failures. 

Stocks' stomach-churning start to 2022 raises big questions for the next six months. Here's what you should know.

Wall Street braces for rises in borrowing costs in July and September as 8.6% inflation spurs on central bank

U.S. stocks entered a bear market, Treasury yields spiked to levels not seen in a decade and the dollar rallied as the fallout from a hot inflation reading continued to rattle global trading already shaken by worries the Federal Reserve will plunge the economy into a recession.

The writing is on the wall that Europe’s monetary party is about to end, and Southern Europe has remarkable parallels to Mexico and Latin America in the 1980s, writes Oliver Hartwich

This month's inflation print comes amid an important debate over how to compare today's numbers to the past.

Stagflation

A consensus has formed that the Federal Reserve waited too long to start tightening money. Ben Bernanke, the former Fed chairman, has said so. Janet Yellen, another former chairman who now serves as Treasury secretary, has implicitly agreed, saying that she, like many other observers, underestimated how high inflation would…