Growth Explosion: GDP Rose 2.4% Despite Fed Tightening

The pace of growth of the U.S. economy picked up in the spring despite the Federal Reserve’s attempt to slow things down. Gross domestic product rose at a 2.4 percent annualized rate in the April through June period, the government said

Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Federal Reserve officials this week gave their clearest signal yet that they're willing to tolerate a recession as the necessary trade-off for regaining control of inflation. Photographer: Al …

Reports: China Plans Big Stimulus After Disappointing Post-Pandemic Reopening

Although Chinese Communist officials and regime media continue to insist the economy is fundamentally strong and merely experiencing a few bumps on the road to post-pandemic recovery, Beijing is reportedly “planning major steps” to revive a deeply ailing financial system, possibly including billions in fresh infrastructure spending and looser rules for property investment.

An advertisement for bank services outside a bank branch in Hong Kong, China, on Thursday, Aug. 4, 2022. Economists downgraded their forecasts for Hong Kong’s economy, predicting it could contract for the third time in four years, after data on Aug. 2 showed growth is being weighed down by Covid …