All posts tagged "Global Economy"

Two news anchors reacted with alarm to the global bond selloff and mocked the Trump administration's failed response.

On Tuesday, CNN anchor Erin Burnett and Richard Quest, the host of Quest Means Business, explained what's happening in the global bond market and why it spells trouble for major economies.

Burnett described how "turmoil" like the war in Iran has led to "meaningful economic impacts, and people experience them every single day." Referring to a global bond selloff, Burnett explained, "something happened today in the market that was sort of a five-alarm fire when it comes to where things are going."...

Secretary of Energy Chris Wright on Thursday didn't confirm or deny whether oil would hit $200 a barrel as gas prices continue to surge and the conflict in Iran has escalated to a global economic crisis.

CNN International host Becky Anderson spoke with anchor and correspondent Eleni Giokos about how the U.S.-Israeli strikes in Iran have prompted Iran to block the Strait of Hormuz and strike back at the international oil market. Iran has signaled that it aims to spike oil prices to $200 a barrel.

"I think it basically contradicts a lot of what we heard from the Energy Secretary, and we know he was asked about whether oil is going to hit $200 a barrel," Giokos said. "He couldn't definitively say no and I think that's very telling about where we are and also, quite interestingly, when he was asked about naval escorts, he says we were not ready for that yet, it will happen at the end of the month, but hang on, we thought this was hopefully going to end by the end of the month, which obviously isn't the timeline that's realistic." ...

President Donald Trump signaled Tuesday that he would direct the American military to escort oil tankers through the Strait of Hormuz, a major global shipping corridor.

Trump and his administration have faced growing criticism over plunging stocks and the rising prices of global gasoline and oil amid the U.S. and Israel military strikes on Iran. Iran has launched counterattacks targeting other countries in the Middle East and tankers in the Strait of Hormuz, prompting the closure of the critical energy channel, according to The Washington Post.

Trump wrote the following on Tuesday on his Truth Social platform. ...

The Trump administration has given its European partners a plan on how it wants to rebuild Ukraine and bring Russia back into the world market, according to an exclusive Wall Street Journal report published Wednesday.

The appendices have not been publicly released; however, U.S. and European officials have described them to The Journal and have indicated that U.S. financial organizations and businesses will use about $200 billion in frozen Russian assets to help fund projects in Ukraine. Those efforts include a new, large-scale data center to be powered by a nuclear plant currently under occupation by Russian troops.

"The proposals have sparked an intense battle at the negotiating table between America and its traditional allies in Europe. The outcome stands to profoundly alter the economic map of the continent," according to The Journal. ...

International Monetary Fund chief Christine Lagarde warned Thursday that a US failure to raise the debt ceiling, which could lead to default, could wreak havoc on the global economy.