News
Understanding Recession Indicators: Is the US Economy at Risk?
The possibility of a recession in the United States remains a concern, despite efforts by the Federal Reserve to stabilize the economy through increased interest rates.
While there are no immediate signs of serious recession risk, concerns persist about consumer spending's ability to sustain economic growth.
Despite expectations of a soft landing with slow GDP growth, factors such as stubborn inflation, high interest rates, increasing debt delinquencies, and rising unemployment rates (4.1% as of June 2024) make it difficult to predict the economy's ultimate trajectory.
Zambia Sets Ambitious Target: 1 Million Tons of Copper by 2027
Zambia, Africa's second-largest copper producer, aims to increase its annual copper production by over 40% to reach 1 million tons by 2027, according to the country's Finance Ministry.
This growth strategy is part of a larger plan to capitalize on the anticipated global copper supply shortage driven by increasing demand from the energy transition sector.
Despite facing recent challenges that led to a 14-year low in production in 2023, Zambia plans to resolve issues at major mines, develop new projects, and expand existing facilities to achieve this goal. The country's long-term vision includes quadrupling copper output to 3 million tons by 2031.
Teen Workforce Grows as Inflation Pressures Family Budgets
Rising inflation has pushed more teenagers into the workforce to support their families financially.
Many teens work various jobs to pay for personal expenses, save for college, and help her family with groceries and pocket money for her siblings.
This trend reflects a broader pattern where teens are increasingly working to alleviate the financial strain on their parents, as consumer prices have surged over 20% in the past three years.
Jamie Dimon: Premature Rate Cuts Could Trigger Inflation Rebound
Jamie Dimon, CEO of JPMorgan Chase, has advised the Federal Reserve to hold off on cutting interest rates, expressing concerns that inflation could resurge.
Dimon's stance contrasts with the Fed's current trajectory, which suggests a potential rate cut in September 2024.
Dimon believes that while inflation has been decreasing, the risk of it rising again remains significant, and premature rate cuts could destabilize the economy.
Biden's Exit Sparks Market Uncertainty, Gold Prices Respond
Gold prices remained steady following President Joe Biden's withdrawal from the 2024 presidential race.
While gold initially gained from increased safe-haven demand, investors have mixed views on what a potential Trump victory would ultimately mean for the precious metal.
Factors such as trade policies, US-China relations, and monetary policy expectations continue to influence gold prices, with the metal recently reaching record highs due to anticipation of Federal Reserve interest rate cuts