Liz Truss has only been the British prime minister for a few days and already Britons do not possess much confidence in her. Here is a YouGov poll confirming low confidence in key issues, from handling the Ukraine-Russia military conflict to curbing the soaring cost of living.
Archives for September 2022
Cooling labor market? Continuing jobless claims trend higher again
Why does the labor market seem detached from the monthly jobs report, courtesy of the Bureau of Labor Statistics? Everything is showing weakness and slower growth, from the number of corporate layoffs to business sentiment. Case in point, the continuing jobless claims. While the number of Americans filing for first-time unemployment benefits declined to 222,000 […]
Jerome Powell sends markets lower as Fed Chair reiterates higher-for-longer interest rates
The U.S. financial markets are not happy with Federal Reserve Chair Jerome Powell. For whatever reason, they are hoping that the central bank will tergiversate and turn dovish on monetary policy. But Powell insists that its tightening campaign will persist to ensure inflation is stopped in its tracks. He uttered the same sentiment in a […]
Brace yourselves, higher interest rates are here to stay, Fed’s Lael Brainard warns
Brace yourselves, high interest rates are here to stay – for now. This was the message Federal Reserve Vice Chair Lael Brainard had for the United States economy. Speaking at an event in New York, Jerome Powell’s likely successor purported that inflation is hurting low-income Americans the most (though Paul Krugman claimed that inflation only […]
Who’s afraid of Jerome Powell?
By: Andrew Moran Who’s afraid of Federal Reserve Chair Jerome Powell? Following his Jackson Hole Economic Symposium speech on Aug. 26, seemingly everyone is spooked by the man, the myth, and the legend of crisis-era monetary policymaking. The bulls were ultra-confident that the head of the world’s most powerful institution had their backs. As soon as the […]