Source: MarketWatch Over 3 million Americans were forced to retire earlier than scheduled because of the COVID-19 pandemic, according to an analysis conducted by the St. Louis Fed. St. Louis Fed Senior Economic Miguel Faria Castro found that there were over 3 million excess retirements as of August versus normal retirements.The excess retirements account for over half of … [Read more...] about COVID-19 Forced Over 3 Million Americans to Retire Early, Study Says
Forex News
Chicago Fed National Activity Contracts for First Time in Five Months
Source: Chicago Fed The Chicago Fed National Activity plunged to negative territory in September after four months of growth, dragged by production issues. The Chicago Fed National Activity Index (CFNAI) fell to -0.13 in September after hitting +0.05 in August and +0.37 the same month last year.The latest reading is the first contraction recorded in five months since the … [Read more...] about Chicago Fed National Activity Contracts for First Time in Five Months
Democrats Optimistic to Impose Taxes on Billionaire’s Unrealized Capital Gains
Source: WSJ The United States is set to slap billionaires’ unrealized capital gains with new annual taxes, according to senior Democrats. House Speaker Nancy Pelosi said the US would “probably” have a wealth tax, noting that the proposal is not technically a wealth tax but similar.The proposal would implement an annual tax on unrealized capital gains on billionaires’ … [Read more...] about Democrats Optimistic to Impose Taxes on Billionaire’s Unrealized Capital Gains
German Business Climate Sinks to Six-Month Low
Source: IFO German business climate fell to a six-month low in October, dragged by the ongoing supply bottlenecks that continue to hit production. EWG is down 0.21%. The Business Climate Index fell to 97.7, down from 98.9 in September but higher than the 92.2 recorded the same month last year.The latest reading is the lowest in six months since the index stood at 96.5 in … [Read more...] about German Business Climate Sinks to Six-Month Low
Lira Drops 2.5% To Record Lows Over Erdogan’s Disagreement With Foreign Diplomats
Source: (Bloomberg) The Turkish lira fell by 2.5% on Monday for the third consecutive day following the latest diplomatic row between Erdogan’s administration with other foreign countries. USDTRY is up +1.63%. Turkish President Recep Tayyip Erdogan announced on Saturday that ambassadors from ten countries were unwelcomed following their criticism of the arrest of a … [Read more...] about Lira Drops 2.5% To Record Lows Over Erdogan’s Disagreement With Foreign Diplomats
