Top economist Mohamed El-Erian says the 'relentless appreciation of the dollar' is terrible news

The dollar's sustained rise is increasing the risk of global stagflation and recession, according to Mohamed El-Erian, the president of Queens' College at Cambridge University.

• Stock Futures Waver, Pound Slumps

  The Wall Street Journal
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  It's the worst ever collapse of the pound but far from the first. Here's a look back at them, all the way back to 1971.

  Fortune

Fed to take rates higher than previously expected; more pain ahead - Reuters poll

The Federal Reserve will hike its key interest rate to a much higher peak than predicted two weeks ago and the risks are skewed towards an even higher terminal rate, according to economists polled by Reuters. That change in expectations came after the Fed raised rates by 75 basis points last week for the third straight meeting and foresaw going higher than it had previously thought to tame inflation, which is running over four times above target. Since then, already battered global stocks went much deeper into bear market territory - a decline of 20% or more - on fears of recession and most currencies weakened further against the multi-decade high dollar.

Billionaire Carl Icahn warns 'you can't cure' hot inflation — but when an audience member asked him for stock picks, he gave these 2 'cheap and viable' names

The 86-year-old investing legend has spoken. Pay attention.

Warren Buffett's Berkshire Makes List of Undervalued,  Stocks

The CBOE Volatility Index has skyrocketed 89% so far this year. Morningstar put together a list of stocks with one- and three-year betas of 0.8 or lower. Then it screened for stocks that are undervalued, according to Morningstar analysts' fair value estimates.