Our lead story: Emerging market unrest
Hundreds of thousands of Brazilians are making their dissatisfaction loud and clear. On Sunday, residents poured into the streets of cities and towns across the country for anti-government protests that outright called for the impeachment of President Dilma Rousseff, who has become increasingly unpopular amidst a snowballing corruption scandal involving Brazil’s state-owned oil giant, Petrobras.
And we’re now learning about some of the businesses that were impacted by those tragic chemical explosions at the Tianjin port in China, where 114 people lost their lives, with 70 still missing. Thailand is also dealing with tragedy. A bomb exploded in central Bangkok on Monday, at a renowned shrine, killing at least eighteen people, injuring over a hundred more. Ameera David weighs in.
Then Tim Duy, professor of economics at the University of Oregon and the senior director of the Oregon Economic Forum, is on the show to talk about the Federal Reserve and inflation. Tim sees a hike in rates in September as more likely than not. And though Duy believes the Fed has been overly optimistic in the past about both economic growth and inflation, he does not believe the Fed will stay the course on rates because of China-induced market or economic turbulence.
After the break, Boom Bust’s Erin Ade takes a look at the effect on oil prices from a combination of factors like a second quarter slowdown in China, and economic contraction in Japan. Oil prices have fallen to near six and a half year lows.
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https://www.youtube.com/watch?v=GqexnygnEco