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An escalating tit-for-tat trade dispute between the U.S. and several other major economies has rattled financial markets in recent days. “I very much hope that we can avoid a full scale trade war (because) that would be a disaster for everyone, not least for the United States,” Philip Hammond told India’s CNBC-TV 18 on Tuesday. […]

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Over the past 40 years, the US economy has experienced four recessions. Among the four, only the extended downturn of 1979-1982 had a conventional cause. The US Federal Reserve thought that inflation was too high, so it hit the economy on the head with the brick of interest-rate hikes. As a result, workers moderated their demands […]

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