The US Federal Reserve System (Fed) has adjusted its long-term targets to be able to maintain low rates and soft monetary policy even as inflation exceeds the 2% target. Such a slight deviation will be possible for "some time", since the indicator was below the benchmark before that. This change in the Fed's tactics signifies a shift to average targeting. Head of the regulator Jerome Powell...

The Moody’s rating agency has released a study on the impact of the COVID-19 pandemic on the global oil and gas market. The agency's analysts believe that the pandemic will prolong the period of increased price volatility, while prices that have fallen due to the pandemic will not lead to a recovery in demand in the global market per se. Thus, everything will depend on the recovery of the global...

Exxon Mobil Corp., Pfizer Inc. and Raytheon Technologies Corp. will be derived from the Dow Jones Industrial Average stock index as part of the largest revision of its composition in seven years. Instead, from August 31, the Dow Jones will include papers of the cloud services developer Salesforce.com, biopharmaceutical company Amgen Inc. and the industrial and technological corporation Honeywell...

About 120 million people in the tourism sector are at risk of being left unemployed due to the effects of the pandemic, UN Secretary General Antonio Guterres said in his video message. “The tourism sector employs one in ten people on earth and provides livelihoods for hundreds of millions more,” Guterres said. The secretary general indicated that the coronavirus pandemic is devastating the...

As expected, the dynamics of the leading indicator of business activity in the euro area showed a slowdown in its growth after the initial surge amid the lifting of restrictions. In the US, on the contrary, the composite PMI showed a sharp rise due to the service sector, where employment was recovering - until the fears of its decline after the cancellation of the crisis benefits did not...

Oil production in the largest oil and gas producing regions of the United States, a significant part of which is shale oil, will decrease in September compared to the current month by 19 thousand barrels per day, or 0.25%, to 7.558 million barrels, the Energy Information Administration (EIA) of the country forecasts. At the same time, the largest decline in production is expected at the Eagle...

Consulting company Boston Consulting Group (BCG) presented its latest report on the state of the global luxury goods and luxury goods market. Experts note that the COVID-19 coronavirus pandemic has led to a real crisis in the market, which was previously fueled by the development of the global economy and strong demand from Chinese consumers. In the new conditions, experts expect a greater value...

According to the forecasts of Adobe, the volume of Internet sales in the United States will reach the volume of the whole of 2019 by October of this year. These findings are contained in the Digital Economy Index, which is compiled by Adobe based on an analysis of about 1 trillion visits to online retail sites, transactions of 80% of the largest online retailers in the United States and a survey...

McKinsey Global Institute has released the Risk, Resilience and Rebalancing in Global Value Chains Report, adding new risks posed by the COVID-19 pandemic to the traditional business threat map. According to experts, a hundred-day global financial loss lockdown turned out to be twice as terrible as a hypothetical world war and three times worse than the 2009 crisis. Protecting the threatened...