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☆ A necessary step or government overreach? Economists are divided over Kamala Harris' plan to clamp down on food inflation
▼ + stars: | 2024-08-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

Read previewVice President Kamala Harris' proposal to combat grocery inflation hasn't elicited a range of opinions from economists, and many have turned to history to dispute her idea. Last week, the Democratic presidential nominee unveiled early details of her economic platform, which included a pledge to ban grocery price gouging. In a study from May, price gouging was the second leading perceived cause of inflation among surveyed consumers. AdvertisementWhether gouging deserves the blame for inflation, some have also criticized Harris' plan as an ineffective government overreach. Pundits have alluded to the price controls under President Richard Nixon.

Persons: —, Kamala Harris, Kenneth Rogoff, Harris, Ed Yardeni, Price, Richard Nixon, Stephen Moore, Lindsay Owens, Donald Trump Organizations: Service, Democratic, Business, CNN, Republican, Cato Institute, Heritage Foundation, CNBC, Federal Trade Commission, New York Times Locations: Cal, Maine

☆ He’d been single all his life. Then he fell in love with a stranger on vacation
▼ + stars: | 2024-08-14 | by ( Francesca Street | ) edition.cnn.com time to read: +18 min

When Yasmine invited her to join the road trip across Turkey, Sema happily accepted. “I knew nothing about them.”And then, when she was introduced to Kenneth, Sema also felt an instant connection to him. Kenneth Wayne HarlOver the next few days, as Kenneth, Sema and their friends Jason and Yasmin drove across Turkey, Kenneth and Sema grew closer. Kenneth and Sema spent the rest of the ferry crossing basking in the glow of each other’s affection. “In Urfa, the four of us attended a dinner and traditional dance performance in the evening,” recalls Kenneth.

Persons: Kenneth Harl, Sema, “, Kenneth, ” Kenneth, Jason, Yasmine, ”, Nemrut, She’d, – she’d, hadn’t, ” Sema, –, Kenneth Wayne Harl, Yasmin, Nemrut Dağ, Kenneth wasn’t, Jason – who’d, ‘, ’, ’ ”, ” Jason, – you’re, it’d, it’s, Kenneth Wayne Harl Kenneth, They’d, Ken, who’d, you’re, ” “, hasn’t, “ I’m, he’d, We’ve, I’m, He’s Organizations: CNN, CNN Travel, Tulane University, Tulane, UNESCO, Heritage, Sema, Skype, American Research Institute, London, ” Locations: Malatya, Turkey, New Orleans, Izmit, Jason, Urfa, Harran, Sema, Nemrut, United States, Istanbul, Büyük Ada, ’, Ankara, Paris, India, France, Hurricane

☆ The US battle against Chinese trade could hurt the Americans it's supposed to protect, Harvard professor says
▼ + stars: | 2024-07-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewPoliticians who champion trade restrictions on China are in for a rude awakening, Kenneth Rogoff warns. According to the Harvard professor, barriers on free trade with the Asian powerhouse are a recipe for economic fallout. "Moreover, low-income US consumers have been among the biggest beneficiaries of low-cost Chinese imports." Just months ago, President Biden announced that tariffs would rise on $18 billion worth of Chinese advanced tech products, including solar panels, batteries, and electric vehicles.

Persons: —, Kenneth Rogoff, Rogoff, Biden, Donald Trump, he's, Paul Krugman, Jamie Dimon Organizations: Service, Harvard, Project Syndicate, Business, Republican, Allies, China, Foundation Locations: China, Washington, Beijing

☆ The world is sitting on a $91 trillion problem. ‘Hard choices’ are coming
▼ + stars: | 2024-07-02 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

Yet, in a year of elections around the world, politicians are largely ignoring the problem, unwilling to level with voters about the tax increases and spending cuts needed to tackle the deluge of borrowing. In France, political turmoil has exacerbated concerns about the country’s debt, sending bond yields, or returns demanded by investors, soaring. “Many (politicians) are not willing to talk about the hard choices that are going to need to be made. Despite growing alarm over the federal government’s debt pile, neither Joe Biden nor Donald Trump, the main 2024 presidential candidates, are promising fiscal discipline ahead of the election. Former Prime Minister Liz Truss triggered a collapse in the pound in 2022 when she tried to force through big tax cuts funded by increased borrowing.

Persons: ” Roger Hallam, Karen Dynan, ” Kenneth Rogoff, ”, don’t, Joe Biden, Donald Trump, Biden, Paul Johnson, William Ruto, Liz Truss, hasn’t, Emmanuel Macron, Dynan, it’s Organizations: London CNN, Monetary Fund, Investors, Vanguard, CNN, US Treasury, Harvard Kennedy School, Harvard University, “, Congressional, CBO, Trump, Fiscal Studies, United Kingdom, Former Locations: United States, France, Germany, Kenya

☆ Trump's plan to tax the entire world will result in the type of global trade war not seen since the Great Depression, think tank says
▼ + stars: | 2024-06-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Read previewDonald Trump says his trade policy would be a way to protect the US from exploitation. Yet, by applying a base tariff on virtually all foreign goods, he's starting a "war against trade itself," Alan Wm. Related stories"Economists agree that high tariffs broadened and deepened the Great Depression, when US unemployment reached 25 percent and we nearly lost our democracy," the distinguished visiting fellow wrote. That's why I think we're going to be entering into a trade war next year." For instance, the new 50% tariffs on Chinese semiconductors may seem extreme, but they target a trade that's just below $1 billion a year, he said.

Persons: —, Donald Trump, Alan Wm, Wolff, Trump, Trump's, Kenneth Rogoff, Leland Miller, Biden, Waller, they're Organizations: Service, Peterson Institute for International Economics, Republican, Business, Trump, Peterson Institute, Biden Locations: Britain, China, Beijing, America

☆ Trump says he wants huge tariffs if elected. That could send inflation spiking.
▼ + stars: | 2024-05-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

But research from the bipartisan Tax Foundation suggests otherwise, and says Trump's 2018 trade war was also economically damaging. The non-partisan Tax Foundation would beg to differ. Tax Foundation estimates that the tariffs then imposed have amounted to an $80 billion tax increase on Americans. Nobody else ever did anything on China," Trump explained. More tariffs under Trump could be poorly timed, as US monetary policy is already struggling to clamp down on current inflation levels.

Persons: Trump, —, Donald Trump, Biden, Kenneth Rogoff Organizations: Time Magazine, Foundation, Service, Time, Republican, Trump, Federal Reserve Locations: China, India, Brazil, United States, Beijing

☆ Markets will rebel if Trump or any president tries to control the Fed, Harvard economist says
▼ + stars: | 2024-04-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Markets would resist executive influence over the Federal Reserve, Kenneth Rogoff told Bloomberg TV. Inflation expectations would jump while the dollar would tank, the Harvard professor said. Donald Trump allies have reportedly been brainstorming ways for him to exert more influence over the Fed, if elected. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementPolitical attempts to influence the Federal Reserve won't go over well with markets, Harvard's Kenneth Rogoff said.

Persons: Kenneth Rogoff, Donald Trump, —, Harvard's Kenneth Rogoff Organizations: Federal Reserve, Bloomberg, Service, Reserve, Business

☆ Unrealistic for US Fed to lower interest rates to 2.5% in this economy
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Completely unrealistic' for the Fed to lower interest rates to 2.5% in this economy: Kenneth RogoffKenneth Rogoff of Harvard University explains why U.S. interest rates are likely to remain higher for longer.

Persons: Kenneth Rogoff Kenneth Rogoff Organizations: Fed, Harvard University

☆ In its latest terror response, Russia is no longer attempting to disguise the brutality of its state security
▼ + stars: | 2024-03-26 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Their state appeared designed to create an impression of aggression and brutality, showing the consequences of crossing the Russian authorities. Though the brutality of Russia's security services has long been known, never has it been so brazenly paraded, say analysts. "It was no secret that Russian security agencies torture people, mutilate suspected terrorists and generally practice all known ways of extracting information. AdvertisementThe abuse of terror suspects in Russia has been documented before. But the treatment of the Moscow terror suspects seems to mark a new milestone in the normalization of brutality by officials in Putin's Russia.

Persons: —, Mukhammadsobir Faizov, Dalerdzhon, Saidakrami Rachabalizoda, Shamsidin, Vladimir Putin, Mirzoyev, Rajabalizoda, Fariduni, mutilate, Anton Barbashin, Akram Azimov, Abror, lionized, Andrei Soldatov, Russia's Wagner, Kenneth Roth Organizations: Service, Business, CNN, Nazi, RFE, Human Rights Watch, St, New York Times, UN, Moscow ISIS, Kremlin, Human Rights Locations: Moscow, Tajikistan, Russia, St Petersburg, Ukraine, Putin's Russia

☆ Trump's proposed tariffs would be 'recessionary' and could spark a resurgence in inflation, Harvard economist says
▼ + stars: | 2024-03-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Trump's trade policies would be "recessionary" and could make inflation worse, according to Kenneth Rogoff. The Harvard economist pointed to Trump's proposed tariffs on imports, including a 60% tariff on Chinese goods. AdvertisementDonald Trump's proposed tariffs on imports would have "recessionary" effects on the US economy and could end up sending inflation higher again, according to top economist Kenneth Rogoff. Rogoff said that Trump's proposed policies and Joe Biden's Inflation Reduction Act make them both the "most protectionist" presidential candidates the US has seen in a while, Rogoff said to Bloomberg on Wednesday. That could hamper economic growth and stoke inflation, making Trump one of the biggest threats to the global economy, "Dr. Doom" economist Nouriel Roubini recently argued.

Persons: Kenneth Rogoff, —, Donald Trump's, Rogoff, Trump's, Joe Biden's, Doom, Nouriel Roubini, Biden, Donald Trump, overspending Organizations: Harvard, Bloomberg, Service, International Monetary, stoke, Trump, Bank of America, Project Syndicate Locations: China, stoke, Washington, Japan

☆ Cash is no longer king. So why are we still printing so much?
▼ + stars: | 2024-02-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

An economics expert tells BI that cash still remains crucial for "certain segments of consumers." AdvertisementWhen it comes to how Americans prefer to spend their money, cash is actually not king. That represents a consistent decline in cash payments since the pandemic in 2020, which saw many shifts in consumer behavior, including an acceleration of online shopping. The following year, the study showed that cash made up 19% of payments and has not recovered since. Cash is still king of some thingsEconomics experts say that despite increasing reliance on cards, cash remains resilient and an important payment method for many consumers.

Persons: —, Cash, Christopher Bechler, Bechler, Benjamin, Sage Handley, Kenneth Rogoff Organizations: Service, Federal Reserve, . Federal, University of Notre Dame Mendoza College of Business, Business, Association for Consumer Research, Federal, Street Journal, Harvard University

☆ Indonesia election: Over 200 million will head to the polls across vast nation in world’s biggest election day
▼ + stars: | 2024-02-13 | by ( Kathleen Magramo | Heather Chen | ) edition.cnn.com time to read: +9 min

CNN —More than 200 million eligible voters will head to the polls in Indonesia on Wednesday, in what is billed as the world’s biggest single-day election. Mascots depicting presidential candidate and Indonesia's Defence Minister Prabowo Subianto (L) and vice presidential candidate Gibran Rakabuming Raka (R) in an election event on February 5, 2024. He has strong links with Islamic political groups, and his vice-presidential pick, Muhaimin Iskandar, is the leader of Indonesia’s largest Muslim political party, the National Awakening Party. A presidential candidate needs a simple majority of at least 50% of total votes and 20% of votes in more than half of the country’s 38 provinces to win. The use and abuse of AIWith more than 210 million Internet users, Indonesia boasts one of the world’s largest digital populations.

Persons: Suharto’s, Prabowo Subianto, he’s, Suharto, ” Kenneth Roth, Ganjar, Mahfud, Gibran Rakabuming Raka, Adek Berry, Anies Baswedan, Muhaimin Iskandar, Anies, –, Basuki Tjahaja, Joko Widodo, Jokowi, Prabowo, Gibran, Jokowi’s, ”, Adrian Vickers, Vickers, “, Yusof, Maria Monica Wihardja, ” Wihardja, Sayyidatiihayaa, Satya Bumi, ” Sayyidatiihayaa, Ulet Ifansasti Organizations: CNN, Human Rights Watch, Princeton University, Indonesian Democratic Party of, Indonesia's Defence, Getty, Former Jakarta, Islamic, National Awakening Party, University of Sydney, Prabowo, Lembaga, Transparency International, Indonesia Locations: Indonesia, United States, Central Java, Jakarta, Indonesia’s, AFP, Chinese, Indonesian, Ogan Ilir, South Sumatra, Nusantara, Borneo

Democratic senators on Friday called Biden's directive — meant to bring breadth, oversight, deadlines and teeth to efforts to ensure foreign governments don't use U.S. military aid against civilians — historic. “This is a sea-change in terms of how you approach U.S. military aid and its impact on civilians,” Massachusetts Sen. Elizabeth Warren said. Human rights advocates said the challenge for the new directive would be the same faced by all previous efforts to withhold U.S. weapons and funding from human rights abusers — whether administrations will actually enforce the human rights conditions against strategically important allies and partners. Foreign governments that fail to provide those assurances on time would have their military aid paused. Those “are honored in the breach,” Roth, the human rights expert, said.

Persons: Joe Biden, Biden, Massachusetts Sen, Elizabeth Warren, who'd, Maryland Sen, Chris Van Hollen, ”, Kenneth Roth, Antony Blinken, isn't, Sen, Bernie Sanders, Benjamin Netanyahu's, Karine Jean, Pierre, “, ” Jean, Pierre said, Leahy, —, ” Roth, it's, ” Van Hollen, — Seung Min Kim Organizations: WASHINGTON, Democrats, Ukraine, Democratic, Capitol, White House, Maryland, Human Rights Watch, Princeton School of Public and International Affairs, U.S, Foreign Assistance Locations: Gaza, Israel, Russia, Massachusetts, what's, Ukraine, Israeli, United States, U.S

☆ A Goldilocks economy could be coming, but a key piece of the puzzle remains elusive
▼ + stars: | 2024-02-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why investors are eyeing an even better outcome for the market than a soft landing . The big storyMarket's sweet spotPiotr PowietrzynskiForget about a soft landing, some market watchers want something just right. For months, investors hoped the Fed's tightening policy would culminate in a soft landing: lowering inflation while avoiding a full-blown recession. But why settle for a soft landing when you can get it all? Liu Jie/Xinhua via Getty ImagesA Goldilocks economy still hinges on the Fed cutting rates, which has proved fleeting for investors.

Persons: —, hasn't, Piotr Powietrzynski Forget, Matthew Fox, Solita, Marcelli, Jerome Powell, Liu Jie, we'll, Powell, Banks, Kenneth Rogoff, Jensen Huang, Rick Wilking, Goldman, Goldman Sachs, Savita Subramanian, Gen, Jenny Chang, Rodriguez, Fintechs, VCs, Sam Altman, Altman, didn't, Scott Winters, Alyssa Powell, Travis Kelce, Experian, It's, EVs, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Apple, Business, Getty, Bank of America, Harvard, Nvidia, CES, Kansas City Chiefs, US Treasury, New York Times, UBS, FAA, Boeing, Max Locations: Americas, Washington ,, Xinhua, Jensen, Las Vegas , Nevada, U.S, China, New York, London

"Gucci is the opportunity to fall in love with fashion, ancora," De Sarno said in a post on Instagram in the run-up to the show, using the Italian word for "again." Debut collections can generate mixed reactions, and even positive press reviews are not always a proxy for their future commercial success. Kering shares closed 1.5% higher after the show. At their current price, Kering shares are trading at the equivalent of around 14 times expected earnings over the next 12 months, according to LSEG data. Reporting by Mimosa Spencer and Elisa Anzolin, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

Persons: Sabato De Sarno, Kering, De Sabato, Kenneth Richard, Federico Giglio, Giglio.com, Gucci, De Sarno, De, Antoine Belge, Francois, Henri Pinault, Julia Roberts, Ryan Gosling, Louis, Dior, Alessandro Michele, Marco Bizzarri, Jean, Hermes, Mimosa Spencer, Elisa Anzolin, Silvia Aloisi Organizations: luxe, Reuters, Exane BNP, fashion's, Louis Vuitton, Moncler, Thomson Locations: Milan, Italy, New York, Chengdu, Bangkok, London, Brera

☆ New economic rules shatter US bonds’ crystal ball
▼ + stars: | 2023-09-19 | by ( Ben Winck | ) www.reuters.com time to read: +8 min

Yield curve “inversions” belong to the latter group. At first sight, they are right: Yield curve inversions have been a consistent predictor of future downturns. Yield curve inversions take place when the yield on short-dated government debt climbs higher than that on longer-term bonds. Lower long-dated bond yields are seen as a sign that investors predict lower rates due to an economic downturn. As such, yield curve inversions have become a popular forward indicator of economic recessions.

Persons: Treasuries, There’s, Eugene F, Fama, Kenneth R, joblessness, Morgan Stanley, Ellen Zentner, Francesco Guerrera, Sharon Lam, Aditya Sriwatsav, Oliver Taslic Organizations: Reuters, San Francisco Federal Reserve, Fed, New York Fed, Morgan Stanley U.S, Treasury, European Central Bank, Thomson Locations: United States, U.S, Covid

☆ China's economic troubles are a result of the post-2008 'debt supercycle' finally coming back to bite it, Harvard economist says
▼ + stars: | 2023-08-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China is being hit by a "debt supercycle" that began with the 2008 financial crisis, Kenneth Rogoff said. While Beijing has a strong record of containing economic fires, today's crisis of slowing growth and high debt is unprecedented, he added. "The debt supercycle may have lasted longer than initially expected, perhaps because of the pandemic. But it was a critical piece of the story, and now, as China's economy falters, it is the best explanation for what might come next," he later added. Trouble for China's economy could stretch on over the long-term as it faces poor growth prospects, experts have warned.

Persons: Kenneth Rogoff, Rogoff Organizations: Service, Project Syndicate, Harvard Locations: China, Wall, Silicon, –, Europe, Beijing

☆ Cambodia leader Hun Sen is set to win another one-sided election
▼ + stars: | 2023-07-21 | by ( Heather Chen | ) edition.cnn.com time to read: +8 min

“The July 23 election is just a day for Hun Sen to impose (his choices) onto the Cambodian people,” she said. A former Khmer Rouge commander who switched sides, Hun Sen has ruled Cambodia for nearly four decades. But in more recent years Hun Sen has turned increasingly autocratic – quashing dissent and jailing critics, forcing many to flee overseas. ‘Future prime minister’Political watchers say this Cambodian election will set the stage for Hun Sen’s transition of power to his son Hun Manet. Hun Manet walks past an honour guard during a military ceremony in Phnom Penh on June 18, 2020.

Persons: Cambodia’s, Hun Sen, –, crackdowns, Hun Sen’s, ”, Mu Sochua, “, …, Bridget Welsh, “ Hun Sen, ” Kenneth Roth, Hun Manet, Tang Chin Sothy, Welsh, ” Hun Manet, Markus Karbaum, ” Karbaum, Phil Robertson, Sam Rainsy, CHARLY TWO, Rainsy, Hun, ” Rainsy, “ I’ve Organizations: CNN, Voters, Cambodian People’s Party, “, Women, Veterans ’ Affairs, ” CNN, Human Rights, ‘, Cambodian, US Military Academy, West, New York University, University of Bristol, Getty, Cambodian People's Party, Cambodian National Rescue Party, Party, Human Rights Watch, Facebook, Reuters Locations: Cameroon, Equatorial Guinea, Cambodian, Cambodia, Khmer, China, Phnom Penh, AFP, ”, Sunday’s, Asia

☆ Nursing Homes Defrauded Taxpayers of $83 Million, Lawsuit Says
▼ + stars: | 2023-06-28 | by ( Erin Nolan | ) www.nytimes.com time to read: +1 min

The owners and operators of four nursing homes siphoned off more than $83 million in taxpayer funds and neglected residents, leading to injuries and at least one death, according to the New York State attorney general, Letitia James, who filed a lawsuit against the owners on Wednesday. “They put profit over people again and again and again while vulnerable New Yorkers were reduced to skeletons,” Ms. James said at a news conference on Wednesday, noting in an earlier statement that the co-owners of the nursing homes, Kenneth Rozenberg and Daryl Hagler, had turned the facilities into “moneymaking machines,” “leading to elderly residents and those with disabilities suffering unconscionable pain, neglect, degradation and even death.”The four nursing homes named in the lawsuit, filed after an investigation by the Office of the Attorney General’s Medicaid Fraud Control Unit, are run by Centers Health Care, and include two in New York City, Holliswood Center for Rehabilitation and Healthcare in Queens and Beth Abraham Center for Rehabilitation in the Bronx; as well as Martine Center for Rehabilitation and Nursing in White Plains and Buffalo Center for Rehabilitation and Nursing in Buffalo.

Persons: Letitia James, “, Ms, James, Kenneth Rozenberg, Daryl Hagler, ”, Beth Abraham, Martine Organizations: New York, Control Unit, Centers Health Care, Holliswood Center for Rehabilitation, Healthcare, Beth, Beth Abraham Center for Rehabilitation, for Rehabilitation and Nursing, Buffalo Center for Rehabilitation and Nursing Locations: New York State, New York City, Queens, Bronx, White Plains, Buffalo

☆ ‘Primary Trust’ Review: Sipping Mai Tais, Until Bitter Reality Knocks
▼ + stars: | 2023-05-25 | by ( Naveen Kumar | ) www.nytimes.com time to read: +2 min

(“Primary Trust” doubles as the name of Kenneth’s new employer, and an abbreviated metaphor for what was lost when his mother died.) As in her superstore dark comedy “Paris,” presented by Atlantic Theater Company in 2020, Booth again probes the half-dread of working-class Black characters in a one-freeway-exit corner of the Northeast. And though Kenneth’s Blackness is an underlying aspect of his experience, it is not the acute source of his alienation. Booth’s one-man study is wonderfully vivid, but there’s only so much emotional engagement that the unburdening of feelings, rather than their enactment or discovery, can inspire. Her other characters are far more loosely sketched: Sanders and Matthis turn small roles, rich with concise, sideways detail, into four-course meals, paradoxically making them feel underused.

☆ Inflation’s real benefits beat theoretical costs
▼ + stars: | 2023-05-05 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

Yet economic theory has a remarkably hard time identifying the social costs imposed by a rising price level. A more serious charge is the uncertainty that rising prices introduce into financial planning. If the theoretical costs of inflation are elusive, the potential advantages it has to offer are more concrete. U.S. house prices, meanwhile, peaked last year at a full 45% higher in real terms than when Rogoff made his plea. In the end, the practical benefits of inflation will trump its theoretical costs.

☆ Recessions, bank failures, and stagnant stock returns - experts see a new, difficult era dawning for markets
▼ + stars: | 2023-03-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Wall Street experts see a new era ahead for markets, marked by a more difficult investing environment. Central bankers have already raised interest rates over 1,700% over the last year to quell high prices. Despite the volatility in bank stocks, Fed officials raised interest rates another 25 basis-points this week, bringing the effective Fed funds rate to 4.75-5%. That's the highest interest rates have been since 2007, and the impact of SVB's collapse is likely equivalent to another 50-75 basis points in rate hikes, Moody's chief economist Mark Zandi estimated, meaning real interest rates are even more restrictive. Some experts have argued that SVB's collapse was due to the bank's uniquely high exposure to bonds, which have been weighed down heavily by rising interest rates.

☆ Deutsche Bank, Credit Suisse, and what to know about the financial turmoil — and how one company is working to boost the number of women on Wall Street
▼ + stars: | 2023-03-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The program collaborates with UPenn's Wharton business school, and it teaches college women the fundamentals of markets, portfolio management, and finance. Katherine Jollon Colsher, President and CEO, Girls Who Invest Girls Who InvestKatherine Jollon Colsher is the chief executive officer and president of Girls Who Invest, a nonprofit that aims to help women enter asset management and other careers across Wall Street. Katherine Jollon Colsher: We work exclusively in the buy side, and we do focus exclusively on placing women in internships and frontline investing roles to advance more women portfolio managers. With that, our vision is for 30% of the world's investable capital to be managed by women by 2030. Shares of the German bank tumbled on Friday, as the cost of credit default swaps linked to its bonds shot higher.

☆ The current banking crisis is a 'worldwide phenomenon' that started long before SVB failed, Harvard professor and former IMF economist says
▼ + stars: | 2023-03-23 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Chaos in the banking sector was a long time coming, according to a former IMF chief economist. The crisis was, in part, caused by banks betting on a prolonged period of ultra-low rates, Kenneth Rogoff said. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Rogoff, a leading scholar of financial crises, said chaos ensued after a number of years of ultra-low interest rates. "I didn't know it would [start] in the US banking sector," he said, adding that issues could've taken place in Japan or Italy before SVB was seized by regulators.

Jan 19 (Reuters) - Zambia needs "desperate debt relief" and agreements under a Group of 20 restructuring vehicle are proving difficult, the World Bank's managing director of operations said on Thursday. "In the last two years, we have seen the limitations of the common framework," Axel van Trotsenburg told a panel at the World Economic Forum's annual meeting in Davos, moderated by Reuters Editor-in-Chief Alessandra Galloni. Zambia has become a test case for the G20-led "Common Framework" restructuring vehicle launched during COVID-19 to streamline debt restructuring efforts as poorer countries buckle under the fallout from the pandemic hit. "Right now we have negotiations where there is not an established debt sustainability framework. What you see in the discussions is that different creditors are challenging all the underlying assumptions," van Trotsenburg added, without specifying which creditors he was referring to.

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