Tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the US economy off track from an otherwise solid course, Federal Reserve Chair Janet Yellen cautioned in a prepared testimony to Congress on Wednesday.
Exports from Latin America and the Caribbean will drop about 14% in 2015 due to a steep decline in prices and weak demand for the region’s main exports from key trading partners, according to a new report from the Inter-American Development Bank (IDB).
A slowdown in China, which gobbled up raw materials everywhere from Australia to Chile, exacerbated a supply glut in most major commodities. And Goldman Sachs thinks the pressure is likely to persist as it noted its underweight position in commodities for the next 12 months.