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NYP: American Wall Street investors brace for harsh winter

MOSCOW, September 18 – RIA Novosti. The US Federal Reserve System (FRS) is not coping with the consequences of the crisis caused by the COVID-19 pandemic, which will obviously lead to a financial crisis, writes the American newspaper New York Post.
“Wall Street is likely to face a harsh winter as markets continue to be volatile and their biggest clients cut operations,” the article said.
According to the author of the article, the volume of traditional IPO transactions has fallen significantly, and in large investment houses, management is preparing for layoffs in advance. Many debtor companies will declare bankruptcy or sell their property.
Earlier, a member of the White House Economic Council and adviser to the President of the United States, Jared Bernstein, said that the US authorities still have a lot of work ahead of them due to “uncomfortably high” inflation rates. Annual inflation in the country in August slowed down less than expected – to 8.3 percent.
In early May, the Fed announced a gradual reduction in assets on its balance sheet for a period of three months. In parallel with this, the regulator raised the base interest rate several times. These steps were taken in an attempt to stem rising inflation and normalize monetary policy, which has suffered from the introduction of anti-crisis measures during the COVID-19 pandemic.

Read also:

“Wall Street is collapsing.” The mayor of New York announced a crisis of unprecedented proportionsMedia: Wall Street is increasingly talking about a possible recession in the United States

Translation by RJ983

Disclaimer: Via RIA Novosti – Checked




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