Rate cut advocates complain that rising rates have made lending more profitable for banks. A recent FT headline notes that the Fed’s rate increases handed banks a “$1tn windfall”.

Simply sign up to the Global Economy myFT Digest -- delivered directly to your inbox. The head of the IMF has warned of an “unforgiving” economic backdrop for government finances around the ...

KP.3.1.1 is still the dominant COVID-19 variant in the United States as it accounts for nearly 60% of positive cases, but the XEC variant is not far behind, recent Centers for Disease Control and ...