Debt of self-employed rises 1.1% to $137,228 in 2022

A man walks past a loan notice in Seoul, Oct. 29. Yonhap Debt held by the self-employed rose 1.1 percent to reach a fresh high in 2022, data showed Thursday. Loans extended by banks and nonbanking institutions to a self-employed person amounted to 179 million won ($137,228) as of end-2022, compared with 177 million won … Read more

US Fed holds key rate steady, signals 3 cuts likely in 2024

U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve on Dec. 13, in Washington, D.C. AFP-Yonhap Policymakers at the U.S. Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting and signaled they expect to make three rate … Read more

Dow hits a record as Wall Street rallies after Fed signals rate cuts in 2024

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Dec. 13. Reuters-Yonhap A powerful rally across Wall Street sent the Dow Jones Industrial Average to a record on Wednesday after the Federal Reserve indicated that the cuts to interest rates investors crave so much may be coming … Read more

Argentines choose freedom over same old political tango

By John J. Metzler   Facing a tight and tense presidential election showdown, Argentines chose freedom. In a stunning upset, the South American country elected an upstart libertarian candidate Javier Milei, an economist who promised to cut spending, reduce bloated budgets, mixed with calls for economic shock therapy to save the resource-rich country from its … Read more