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That’s the title of a Timiraos/WSJ article three days ago: Typically in the recovery from a downturn, households are more cautious about spending and are likely to save. When rates are low, borrowing supports spending. High rates choke off that spending. This time, economic activity has been supported more by wealth and incomes than by credit. The pandemic ...
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A more “unpredictable” U.S. will only add to the challenges facing the incoming European Parliament as it navigates increasingly fraught ties with China and Russia, according to former EU Commission President José Manuel Barroso. Barroso told CNBC on Monday that there was “anxiety” in Europe over the upcoming U.S. elections, reviewing how a second term for ...
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