latest news in economy
Why Government Subsidies Are Pushing the Global Economy to the Brink
Washington, Saturday, 17 October 2026.
The IMF warns that government subsidies shielding consumers from high energy prices are fiscally unsustainable, driving public debt to dangerous levels despite temporary global economic resilience.
Federal Reserve Chief Warns Boom in Artificial Intelligence Is Driving Up Prices
Washington, Saturday, 17 October 2026.
Federal Reserve Chair Kevin Warsh warned that massive investment in artificial intelligence is creating a demand shock, pushing up prices before promised economic productivity gains can take effect.
American Companies Prepare for Strong Profit Reports Amid Economic Concerns
New York, Saturday, 17 October 2026.
Major corporations face an intense earnings season where projected 29% profit growth may still fail to ease investor anxieties over persistent inflation and broader macroeconomic uncertainty.
Salt Lake City Unveils Multi-Billion-Dollar Downtown Entertainment Plan
Salt Lake City, Friday, 16 October 2026.
Smith Entertainment Group’s new multi-billion-dollar master plan will transform downtown Salt Lake City into a walkable district, aiming to boost economic growth ahead of the 2034 Winter Olympics.
Federal Reserve Report Reveals Rising Household Wealth Alongside Growing Financial Stress
Washington, Friday, 16 October 2026.
The Federal Reserve’s latest triennial survey shows median household net worth reached $215,900, yet late loan payments surged near 20%, highlighting widening financial stress across American families.
Surging Debt for Artificial Intelligence Triggers Record Insurance Costs for Tech Giants
New York, Friday, 16 October 2026.
Surging debt from artificial intelligence expansion has pushed default insurance costs for tech firms to record highs, with market pricing implying a 63% default risk for data center operator CoreWeave.
Tackling High Costs: A New Plan to Stabilize Essential Prices and Protect Democracy
New York, Friday, 16 October 2026.
Economist Isabella Weber proposes capping essential prices and establishing strategic stockpiles to combat inflation, offering an alternative to central bank interest rate hikes that protects household purchasing power.
