Ford, for $5.6 billion, begins its first steps in building a car and battery factory.

For the first time in 53 years, the global car manufacturer, Ford,
decided to build its first factory to manufacture electric cars,
which cost about $5.6 billion, and the location of the new factory
will be in western Tennessee. extending to 119 years

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Ford’s partnership with a South Korean company

Is the US economy about to enter a new abnormal phase?

Ford’s partnership with a South Korean company

This comes in partnership with the South Korean company SK Innovation.
The project is expected to be completed in a year and
includes 6000 workers to build electric pickup trucks and
manufacture the charging battery.

Two million electric cars a year by the end of 2026,
they are also building two battery factories in Kentucky with
a workforce capacity of 5,000 workers,

and reports indicate expenses amounting to 50 billion dollars from now until 2026,
and this was the Ford company that sold electric cars In the United States alone,
it reached 27,140 cars

General Motors decides to return its employees to work from its offices
The company decided to replace its employees to work again through offices,
at least three days a week, and this will be implemented by the end of this year,

and this decision came after the company’s employees continued to work away
from their offices since the outbreak of the Corona epidemic.

It is worth noting that this decision is not the first,
as it was preceded by companies such as “Apple”
and “Peloton Interactive”,
which restored work through offices since Labor Day,

and on the other hand came an opposite policy from Tesla,
whose CEO “Musk” decided to return workers.

And working at least 40 hours a week since June
and he completes refusal to work remotely

The number of General Motors employees in
the United States has reached 94,000,
including 2,300 workers who work at the company’s
global headquarters in the Detroit Renaissance Center.

artical name Ford, for $5.6 billion, begins its first steps in building a car

Is the US economy about to enter a new abnormal phase?

The statements of US Federal Reserve Chairman Jerome Powell last Friday
in Washington in a hearing seem to raise concern again,
as he said that the US economy may witness a new,
abnormal state of instability,
and this is mainly due to the measures that
will be announced with the outbreak of the epidemic.
Covid-19 again, and he also added that we are facing “extraordinary turmoil”,
and he did not comment on the recent interest rate hike decision
|when the US Central Bank raised interest rates
by 75 basis points during the past week,
to be the third time in a row, and thus an accelerated and
strict pace monetary policy to counteract high inflation.

Face inflation

The steps taken by monetary policy officials in the United States are still
quick in the direction of curbing inflation,
which jumped to its highest level in 40 years,
and we may find that the biggest blame is borne by Powell and
his colleagues because of their late move
after the expansion of price pressures,
and the matter worsened the effects of the invasion.
Russia imposed on Ukraine, which led to significant
increases in food and energy prices worldwide

The consumer price index in the United States also recorded an
increase during the last 12 months by about 8.3%,
with officials’ promises of calming these rises,
even if the result was negative for the American economy in general.

The labor market in the United States
As described by the officials,
all their current attempts are to limit the increasing demand
and to see the market again in a “balanced state”,
because the current situation indicates the loss of many jobs,
and the labor market is still strong, according to the indicators that
indicate the arrival of unemployment rates to 3.7%,
with their expectation that we will see a significant rise
if the current situation continues to raise interest rates,
to find ourselves in the end at 4.4% next year,
according to the expectations announced this week.

Economist forecasts recession in the United States

Economist “Nouriel Roubini” is a well-known economist who
predicted the occurrence of the global financial crisis in 2008,
when he returned to the scene with a questionable expectation in which he said
that the United States is on the verge of a “long-term and ugly recession”,
as he described it, and warned of high-interest rates.
Continuing will eventually lead to an increase in debt servicing costs
in addition to high debt ratios for governments and companies,
and we may see the death of many companies and banks.

artical name Ford, for $5.6 billion, begins its first steps in building a car

Ford, for $5.6 billion, begins its first steps in building a car

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