Why The U.S. Isn’t “Officially” in a Recession
President Joe Biden and the Federal Reserve Chair, Jerome Powell, have stated that the U.S. is not officially in a recession. However, it’s not up to them to declare an official recession; that declaration comes from the National Bureau of Economic Research (NBER), and they haven’t commented yet. The NBER defines a recession as a […]
Slight Increase in Oil Production Offers Some Relief
The world’s biggest oil producers have agreed to increase oil production, if only slightly, in an attempt to help ease high prices. Crude oil prices have been traded consistently at more than $100 per barrel since February, which has impacted people around the world with higher living costs, even as prices fell slightly over the […]
China’s Zero-Covid Policies Reenacted
China is re-imposing Covid-19 restrictions only weeks after reopening, raising concerns that the country may once again enact strict lockdowns. The mass quarantine measures in Shanghai have included highway closures, which have severely affected trucks carrying exports heading to ports. “Trucks loaded with cargoes and containers were unable to enter the Shanghai terminal,” stated logistics […]
The Chemical Industry Warns of Economic Struggles
The chemical industry is tightly linked to the global economy. As the world’s third- largest industry, its products can be found in nearly every item people use in their every day lives. That’s why when strong indicators in the chemical industry point towards a recession, it should be scrutinized. A key indicator of a looming […]
Discussions on Fuel Transition Continues
The World Economic Forum (WEF) in Davos, Switzerland recently hosted a global forum composed of both international dignitaries and world business leaders. The most notable of the forums centered around the current global energy crisis, with prices for gas and oil becoming incredibly volatile in the few months following Russia’s invasion of Ukraine. Of course, […]
