Petro and Colombia’s Rule of Law

Former M-19 rebel Gustavo Petro won Colombia’s runoff presidential election Sunday with 50.5% of the vote. His opponent, businessman Rodolfo Hernandez, received 47.3%. The rest of the votes were either intentionally blank or annulled by electoral authorities. With nearly half of all voters declining to endorse Mr. Petro, there is no mandate for radical change. … Read more

Will the Fed Cause a Recession? Why Inflation Is Out of Powell’s Control.

Text size “Wages are not principally responsible for the inflation we’re seeing,” Federal Reserve Chairman Jerome Powell said Wednesday. Kevin Dietsch / Getty Images About the author: JW Mason is a professor of economics at John Jay College, City University of New York, and a fellow at the Roosevelt Institute. To careful listeners, there was … Read more

Will the Fed Cause a Recession? Why Inflation Is Out of Powell’s Control.

Text size “Wages are not principally responsible for the inflation we’re seeing,” Federal Reserve Chairman Jerome Powell said Wednesday. Kevin Dietsch / Getty Images About the author: JW Mason is a professor of economics at John Jay College, City University of New York, and a fellow at the Roosevelt Institute. To careful listeners, there was … Read more

Chesterfield to house Lego’s only manufacturing facility in the US | Govt-and-politics

Lego plans to invest at least $ 1 billion to construct its only US-based manufacturing plant in Chesterfield County, Govt. Glenn Youngkin announced Wednesday. The Virginia factory – a 1.7 million-square-foot giant that will be Lego’s seventh manufacturing facility in the world and supply the Americas – is estimated to create more than 1,700 jobs … Read more

Stock Market Today: Dow Falls, Salesforce Gains, Amazon Rises

The stock market dropped Wednesday following still-strong economic data and the start of the Federal Reserve’s “quantitative tightening.” The Dow Jones Industrial Average fell 177 points, or 0.5%, while the S&P 500 dropped 0.8%, and the Nasdaq Composite declined 0.7%. Stocks tried to rally in the afternoon but ultimately stumbled into the close. “US stocks … Read more

Wall Street Is So Terrified, Stocks Might Be Ready to Rise

Federal Reserve Chair Jerome Powell Tom Williams-Pool / Getty Images Text size To paraphrase Monty Python, the stock market is not dead quite yet. Sure, it feels like the S&P 500 has nowhere to go but down. The index dropped 4.9% last month, its worst since April 1970, and sentiment toward stocks remain terrible, with … Read more

Chinese Internet Stocks Are Off to the Races. Be Cautious.

Text size Stocks bounced on China’s latest efforts to steady its economy. Isaac Lawrence / AFP via Getty Images China’s efforts to steady its economy and markets include an indication that they are willing to pause the technology crackdown that has battered the sector for 18 months. But the move, which sparked a rally on … Read more

Bearish Sentiment Drags Oil Prices Lower

While there are still plenty of supply risks that could send oil prices soaring, bearish sentiment has taken over oil markets this weak due to falling Chinese demand and the expectation of a global economic slowdown. Oilprice Alert: Our trading specialists have just released a special report on how to play today’s boom in oil … Read more