- Yahoo Finance Video
US and Europe are 'two ships in same harbor': Fmr. ECB president
For the first time since 2019, the European Central Bank (ECB) cut interest rates, bringing it down from 4% to 3.75%. Former ECB President Jean-Claude Trichet joins Catalysts to react to discuss how inflation in Europe compares to the United States and what the ECB's latest move could signal for the Federal Reserve. "The euro area is made of 20 different economies. It's not as simple as in the US, of course," Trichet says. He explains that these economies decide on wages and salary increases on a multiyear basis, which "creates some kind of hysteresis both, I would say, with interest rates being high and inflation being high when you are still running with the previous negotiations with wages and salaries. And then, of course, it amputates the standard of living and the purchasing power." As all eyes are on the Federal Reserve's next interest rate decision, Trichet says that the data coming from both Europe and the US are pretty similar as the two try to tackle inflation. He adds, "It seems to me that we are two ships that are going in the same harbor... But of course, the weather is not the same in Europe and in the US. So, the decisions are not exactly the same, but the goal is the same." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl
- Nets Wire
Kyrie Irving remorseful for sharing link to documentary while with Nets
NBA commissioner Adam Silver said that Kyrie Irving is remorseful of sharing the link to an anti-semitic movie while with the Brooklyn Nets.
- Yahoo Finance Video
Gas prices could pick up in summer from refinery pressures
CIBC Private Wealth US Senior Energy Trader Rebecca Babin joins Yahoo Finance's Market Domination to talk about the price pressures in the energy market stemming from OPEC's extended production cuts for oil (CL=F, BZ=F) and its spillover into gas prices (RB=F) ahead of the summer season. "Over the course of the summer, we're going to see a lift in gas prices, probably closer to that kind of $3.65, $3.70 level. Nowhere near the point where it starts to make people change their mind on consumption," Babin states. "But I would expect we see a bottoming here, and throughout the course of the summer we see a little incremental rise as demand picks up..." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
