US: EF-1 Tornado Touches Down In Athens, AL, Leaving Devastating Damage

The National Weather Service in Huntsville has confirmed that an EF-1 tornado touched down in downtown Athens, Alabama, on Saturday night, December 28.

U.S. Fed chief at symposium in Jackson Hole

U.S. Fed chief at symposium in Jackson Hole

U.S. Federal Reserve Chair Jerome Powell (L) chats with Bank of England Governor Andrew Bailey (R) and Bank of Canada Governor Tiff Macklem during the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, on Aug. 23, 2024.

Economists fear U.S. recession after historic rate hike

STORY: Economists fear U.S. recession after historic rate hike DATELINE: June 17, 2022 LENGTH: 00:02:09 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of U.S. Federal Reserve 2. various of the Wall Street 3. various of Nasdaq Market Site at Times Square 4. SOUNDBITE 1 (Spanish): JORGE MARCHINI, Professor of Economics at the University of Buenos Aires 5. SOUNDBITE 2 (English): MICHAEL HUDSON, Professor of Economics at the University of Missouri-Kansas City STORYLINE: The U.S. Federal Reserve has announced the biggest rate hike in 28 years, and some economists fear a recession lies ahead for the country. The Fed raised the target for the fed funds rate by three-quarters of a percentage point on Wednesday, in an effort to tamp down the worst inflation in 40 years. The rate increase was the biggest since 1994, and was implemented after data showed the central bank has failed in its efforts to fight inflation. Sam Bullard, senior economist at Wells Fargo, a major U.S. bank, said "we believe that a

U.S. Fed rolls out largest rate hike since 1994, weighing on global economy

STORY: U.S. Fed rolls out largest rate hike since 1994, weighing on global economy DATELINE: June 16, 2022 LENGTH: 00:02:11 LOCATION: Beijing CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. exterior of U.S. Federal Reserve 2. various of New York Stock Exchange 3. SOUNDBITE 1 (English): MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City 4. SOUNDBITE 2 (Spanish): JORGE MARCHINI, Professor of Economy, University of Buenos Aires 5. SOUNDBITE 3 (English): HSIA HUA SHENG, Associate professor of international finance with Getulio Vargas Foundation STORYLINE: The U.S. Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points, marking the sharpest rate hike since 1994, as reports in recent days indicated inflation showed no clear sign of easing. Experts say the biggest rate hike in 28 years will weigh on global economy and bankrupt third world countries. SOUNDBITE 1 (English): MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City "Suppose y

U.S. interest rate hike severely harms economy in developing countries: experts

STORY: U.S. interest rate hike severely harms economy in developing countries: experts DATELINE: May 11, 2022 LENGTH: 00:02:33 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of street views in the U.S. 2. SOUNDBITE 1 (English): RONNIE LINS, Director of China-Brazil Center for Research and Business, Brazil 3. SOUNDBITE 2 (Spanish): JORGE MARCHINI, Professor of Economy, University of Buenos Aires, Argentina 4. SOUNDBITE 3 (Spanish): JORGE MARCHINI, Professor of Economy, University of Buenos Aires, Argentina 5. SOUNDBITE 4 (English): MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City, U.S. STORYLINE: The U.S. Fed recently raised its benchmark interest rate by half a percentage point, in response to the highest inflation in the U.S. in 40 years. Experts say that the interest rate hike, the biggest in two decades, could benefit the U.S., but deal a blow to low-income countries and developing economies. SOUNDBITE 1 (English): RONNIE LINS, Director of China-Brazil Center

U.S. Fed rate hikes pose challenges for developing countries, say experts

STORY: U.S. Fed rate hikes pose challenges for developing countries, say experts DATELINE: May 8, 2022 LENGTH: 00:02:35 LOCATION: Beijing CATEGORY: POLITICS SHOTLIST: 1. SOUNDBITE 1 (English): RONNIE LINS, Director of China-Brazil Center for Research and Business 2. SOUNDBITE 2 (English): STEPHEN NDEGWA, International relations lecturer, United States International University (USIU-Africa) 3. SOUNDBITE 3 (English): MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City STORYLINE: As the U.S. Federal Reserve on Wednesday raised its benchmark interest rate by a half percentage point, experts from different countries warn that the Fed's more aggressive monetary tightening could pose more challenges to the developing countries. SOUNDBITE 1 (English): RONNIE LINS, Director of China-Brazil Center for Research and Business "The main problem for emerging economies will be the loss of investors, who will migrate to the United States to obtain higher remuneration in fixed income securiti

Fed rate hikes, high inflation could bankrupt third world countries: U.S. economist

STORY: Fed rate hikes, high inflation could bankrupt third world countries: U.S. economist DATELINE: May 6, 2022 LENGTH: 00:02:32 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE 1 (English): MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City 2. various of New York STORYLINE: A renowned U.S. economist and author says the ongoing monetary tightening by the U.S. Federal Reserve, as well as increasing oil and food prices, could plunge third world countries into bankruptcy and push them to sell public assets to American investors. SOUNDBITE 1(English) MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City: "Suppose you're an African or Latin American country, your balance of payments is going to run into deficit for higher oil prices, higher food prices, and much higher prices on your foreign debt. And now, the International Monetary Fund is going to say, well, we will lend you money, but if we lend you money, you'll have to sell off to