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What the death of the “Greenspan put” means for investors
Analysis The Fed’s latest interest-rate rise shows that the “Greenspan put” – the idea that central banks will intervene if markets look like crashing – is dead. It’s a very different world for investors now, says John Stepek. Here’s why, and what it means for you.
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What does the latest inflation shocker from the US mean for your money?
Analysis US inflation has hit another fresh 40-year high and it’s unlikely to be going away any time soon, despite the best efforts of the Federal Reserve. With markets already predicting a recession, John Stepek explains what it all means for you.
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Holiday reading: five books to make sense of the 1970s – and the 2020s
Reviews With raging inflation, booms, busts and political crises, the 1970s has a reputation as a relentlessly awful decade. But things aren’t that simple, says Merryn Somerset Webb. Here, she picks five books to put it all in context.
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Why a strong dollar hurts – and what you can do about it
Analysis The US dollar is at its strongest level in 20 years. That’s bad news for most investment assets, says John Stepek – here’s why
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Metals prices wobble on slowdown fears
News The S&P GSCI index of 24 major raw materials has fallen back 9% since mid-June on growing fears of a recession, and copper has hit a 16-month low after losing 22% since a peak in early March.
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Central banks are on course for recession
News The world’s central banks have found themselves behind the curve on inflation. Acting to tame it now runs the risk of sparking a recession.
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Central banks are divided – so prepare for more turbulence
Analysis Central banks no longer agree on interest rates. The US is raising aggressively, while the UK is taking a more cautious approach and Japan is sticking to its plan of “yield curve control”. John Stepek explains why this matters, and what it means for the markets and your money.
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Liz Ann Sonders: raging inflation and the bear market is not “70s redux”
Podcasts Merryn talks to Liz Ann of Charles Schwab about how today’s raging inflation and bear market came about, what to do, and why it’s not like the 1970s stagflation, or the the 2007-2008 crash.
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The Fed really is fighting inflation – so don’t expect an early end to the bear market
Analysis In an attempt to contain raging inflation, the Federal Reserve has raised US interest rates by 0.75 percentage points. And it’s going to keep on raising them till something breaks, says John Stepek.
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