REUTERS/Robert Galbraith
Happy Friday eve, readers. Phil Rosen here. Surprising no one, the Fed raised interest rates by 25 basis points yesterday.
That puts the Fed Funds Rate above 5% for the first time since 2007. Remember, the higher that goes, the more expensive it becomes for consumers and businesses to borrow.
Wang Ying/Xinhua/Getty
Hey there market people. Phil Rosen here.
I spent much of yesterday parsing through pages of data on where Russian oil is heading and how much buyers are paying for barrels.
The clearest takeaway is that the West's sanctions do in fact seem to be taking a toll as intended — Moscow's export revenues are down, but plenty of oil remains available as far as global supplies.
Howdy, readers. Phil Rosen here, reporting from New York City.
For many months now, I've been having conversations and writing about economic indicators that all point to a recession.
But it still hasn't officially happened yet, at least according to the secretive, little-known group that's responsible for declaring them. They've stayed mum even as the economy goes haywire.
This week has felt like a month. Senior reporter Phil Rosen here.
It's Friday and the coffee's just brewed — let's get straight to the news.
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