Six years ago Shandong Ruyi Group embarked on a frantic acquisition spree with the goal of becoming China’s version of luxury powerhouse LVMH.
More US consumers are saddled with credit-card debts for longer periods of time struggling to pay down amid high inflation and rising interest rates.
Summer said, reducing the inflation curve will require even more monetary tightening. “It’s not going to be easy to do what’s necessary,” he said.
Enjoy cheap gas while you can because oil prices will be above $100 per barrel in 2023, Bank of America says.