D3sign | Moment | Getty ImagesCredit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Federal Reserve reported Tuesday.Debt that has transitioned into "serious delinquency," or 90 days or more past due, increased across multiple categories during the year, but...
Category: Economy
‘A slow fiscal death’ awaits some countries in this ‘decade of debt,’ says economist
A mosaic collection of world currencies.FrankvandenBergh | E+ | Getty ImagesThe world is looking at a debt crisis that will span the next 10 years and it's not going to end well, economist Arthur Laffer Jr. has warned, with global borrowings hitting a record of $307.4 trillion last September. Both high-income...
Turkey’s new central bank governor, formerly at Amazon and New York Fed, seen as a ‘credible choice’
Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024. Emin Sansar | Anadolu | Getty ImagesTurkey's newly appointed central bank governor, Fatih Karahan, has his work cut out for him, after being named to the job by presidential decree over the weekend...
IMF warns British government against more tax cuts
British Finance Minister Jeremy Hunt said earlier this month the U.K. would not enter a recession this year.Hannah Mckay | ReutersLONDON — The U.K. government should not introduce further tax cuts this year, the International Monetary Fund said Tuesday, as its chief economist argued the national budget needed the money...
ECB’s Lagarde responds to scathing staff survey: ‘I’m very proud and honored to lead the institution’
European Central Bank President Christine Lagarde looks on as she attends the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023. Yves Herman | ReutersPresident Christine Lagarde on Thursday said she was "proud and honored" to leead the European Central Bank, after...