‘The Fed is breaking things’ – Here’s what Wall Street has on edge as risks rise around the world

Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, Sept. 23, 2022. To Drago | Bloomberg | Getty Images as the Federal Reserve ramps up efforts to tame inflation, sending the dollar surging and bonds and stocks into a tailspin, concern is rising that the … Read more

Florida’s home insurance market was a month before Ian. It’s about to get worse

New York CNN Business — Florida homeowners were already facing an expensive and difficult market for home insurance before Hurricane Ian. The devastating storm is about to make things worse — even for those fortunate enough to escape any damage. For the better part of two decades, the nation’s major insurers have wanted as little … Read more

The Senate Just Quietly Passed a Major Climate Treaty

What if the Senate passed an international climate treaty—a pact so powerful that it could avert nearly 1 degree Fahrenheit of global warming—and nobody noticed? That’s more or less what happened a week ago. Last Wednesday, the Senate ratified the Kigali Amendment, a treaty that will phase out the world’s use of hydrofluorocarbons, or HFCs, … Read more

Honestly? The Link Between Climate Change and Hurricanes Is Complicated

Hurricane Ian is one of the most destructive hurricanes ever to hit Florida. A day after the storm made landfall, hundreds of people have been rescued and, as of this morning, millions were without power. President Joe Biden has indicated that early reports suggest “substantial loss of life,” but no firm numbers have been confirmed. … Read more

How to protect your 401(k) in a bear market

Editor’s Note: This is an updated version of a story that originally ran on August 29, 2022. Stocks and bonds are trading in bear territory. And given current circumstances, it’s fair to assume the markets will remain volatile for awhile. interest rates are rising quickly in the US and Europe amid government efforts to tamp … Read more

How the United States is exporting inflation to other countries

London CNN Business — The Federal Reserve is laser-focused on stemming price increases in the United States. But countries thousands of thousands away are reeling from its hardball campaign to strangle inflation, as their central banks are forced to hike interest rates faster and higher and a runaway dollar pushes down the value of their … Read more

Markets in a tailspin get a big dose of chill from the Bank of England

This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — All the drama out of the UK government is keeping me from catching up on the only UK drama I really want to consume, which is Love Island, season 8, … Read more

Why hurricanes are getting more expensive

A version of this story appears in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here. CNN — After it made landfall in Cuba early Tuesday, Hurricane Ian is bearing down on Florida, with more than 1.75 million people under mandatory evacuation orders across the state. Follow the latest … Read more

Nearly 70% of Americans are looking for extra work to combat inflation

A few months ago, Mike Petree noticed an alarming pattern: His bank account would get uncomfortably low on the weekends before he’d get his paycheck, paid biweekly on Wednesdays. Despite no changes to their daily habits, bills for him and his family of five skyrocketed: a $120 weekly grocery bill ballooned to $200, and a … Read more

Larry Summers blasts UK’s ‘utterly irresponsible’ fiscal policy

Larry Summers Cameron Costa | CNBC LONDON — Former US Treasury Secretary Larry Summers on Tuesday warned that the UK has lost sovereign credibility after the new government’s fiscal policy sent markets into a tailspin. the british pound hit an all-time low against the dollars in the early hours of Monday morning, before recovering slightly … Read more