US Federal Reserve

In a first of its kind incident, a lecturer has sued the owners of a coffee shop, where he tripped over a dog sleeping at the entrance and broke his arm.

Mahmut Şenol, who is also a journalist, filed a lawsuit for compensation of 31,000 Turkish Liras ($1,700).

The United States faces "a risk" of recession as its battle against inflation could slow the nation's economy, but a serious downturn can still be avoided, Treasury Secretary Janet Yellen has said.

The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels and in the process caused a deep recession and sharply higher unemployment.

On Sept. 8 Chair Jerome Powell suggested that this time, the Fed won't have to go nearly as far.

The situation remains difficult in the villages of Bogdan and Karavelovo in Karlovo region. There are a total of seven villages in the area that have declared a partial state of emergency. President Rumen Radev also arrived in the village of Karavelovo before noon. He met people affected by the floods.

Political uncertainty and growing economic woes, including spiralling inflation and the threat of a recession, are weighing heavily on the British pound, against both the U.S. dollar and the also struggling euro.    

All eyes are on a symposium this week in Jackson Hole, Wyoming where Fed boss Jerome Powell will deliver a speech that will be followed for an idea about the bank's next moves.    

Η πορεία του πληθωρισμού είναι καθοριστική για την επόμενη κίνηση της Fed τον Σεπτέμβριο

The United States and the European Union can avoid recession and achieve a soft landing by bringing inflation down to an acceptable level, a U.S. central bank official said on Aug. 2.

"A soft landing is feasible in the U.S. and the EA [euro area]," St Louis Federal Reserve President James Bullard during a speech at New York university.

"The war in Ukraine and its consequences are the main reason for the leveling of the euro against the dollar. For the first time since the beginning of the new millennium, we have seen parity between the world's two major reserve currencies". This was stated by the economist and financial analyst Boris Petrov in an interview for BGNES

Recent upheaval in the cryptocurrency markets shows the sector is subject to similar risks as conventional investments, underscoring the need for regulation to protect against the "false allure" of a quick profit, Federal Reserve Vice Chair Lael Brainard has said.