Latest Christine Lagarde News
Yellen downplays US recession risk as economic reports loom
WASHINGTON (AP) — Treasury Secretary Janet Yellen on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession. Yellen spoke on NBC's “Meet the Press” just before a slew of economic reports will be released this week that...
Europe's central bank backs larger-than-expected rate hike
FRANKFURT, Germany (AP) — The European Central Bank raised interest rates Thursday for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the U.S. Federal Reserve and other major central banks to target stubbornly high inflation. The move...
Italy political turmoil a headache for Europe's central bank
FRANKFURT, Germany (AP) — Italian Prime Minister Mario Draghi's offer to resign has sent unsettling ripples through financial markets, bringing back bad memories of Europe's debt crisis a decade ago and complicating the European Central Bank's job as it raises interest rates for the first time in...
European Central Bank head targeted in hacking attempt
BERLIN (AP) — The European Central Bank said Tuesday that its president, Christine Lagarde, was targeted in a hacking attempt but no information was compromised. The attempt took place “recently,” the Frankfurt-based central bank for the 19 countries that use the euro said in...
Croatia clears final hurdle to adopting the euro next year
BRUSSELS (AP) — The European Union on Tuesday removed the final obstacles to Croatia adopting the euro, enabling the first expansion of the currency bloc in almost a decade as the exchange rate fell to its weakest level against the dollar in 20 years. EU finance ministers approved...
Inflation hits record 8.6% for 19 countries using the euro
LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine. Annual inflation in the eurozone's 19 countries hit 8.6% in June, surging past the 8.1% recorded in May,...
Powell: 'No guarantee' Fed can tame inflation, spare jobs
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can...
Asian shares track Wall St drop as inflation fears drag on
BANGKOK (AP) — Shares skidded in Asia on Wednesday after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession. U.S. futures edged higher while oil prices fell back. A...
Europe's central bank ready to 'stamp out' surging inflation
SINTRA, Portugal (AP) — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected. In a...
World shares mostly higher after wobbly day on Wall Street
BANGKOK (AP) — Global stocks were mostly higher Tuesday after a wobbly day on Wall Street as markets cooled off following a rare winning week. Oil prices pushed higher and U.S. futures also advanced. As they wrapped up a summit in Elmau, Germany, Group of Seven...
