Poverty and inflation: Egypt’s economy hit by global turmoil

Poverty and inflation: Egypt’s economy hit by global turmoil

DUBAI, United Arab Emirates (AP) – Stores are selling winter clothes from last season in the middle of summer. Repair shops lack spare parts for appliances. There is a waiting list to buy a new car. Egypt, a country of more than 103 million people, is running low on foreign currency needed to buy essentials … Read more

Fed attacks inflation with another big hike and expects more

WASHINGTON (AP) – Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come – an aggressive pace that will heighten the risk of an eventual recession. The Fed’s move boosted … Read more

EXPLAINER: How the strong US dollar can affect everyone

NEW YORK — The buck isn’t stopping. The value of the US dollar has been on a tear for more than a year against everything from the British pound across the Atlantic to the South Korean won across the Pacific. After rising again Friday, the dollar is near its highest level in more than two … Read more

Biden approval rises sharply ahead of midterms: AP-NORC poll

WASHINGTON (AP) – President Joe Biden’s popularity improved substantially from his lowest point this summer, but concerns about his handling of the economy persist, according to a poll from The Associated Press-NORC Center for Public Affairs Research. Support for Biden recovered from a low of 36% in July to 45%, driven in large part by … Read more