British businesses and households “need to accept” they are poorer and stop asking for pay hikes or pushing prices higher, says Huw Pill, the Bank of England’s (BoE) Chief Economist. Speaking on a Columbia law school podcast, Pill explained that a game of “pass the parcel” is occurring in the national economy. Here is everything […]
Inflation
U.S. inflation slows to two-year low, but core, services inflation remain stubbornly high
The financial markets are celebrating on Wednesday after the U.S. consumer price index (CPI) slowed to 5% in March, down from 6 percent in February. This also came in below the market estimate of 5.2% percent Inflation has not been this low since May 2021. The bad news? Core inflation, which strips the volatile food […]
Ouch: IMF lowers U.S. economic growth forecasts for 2023, 2024; warns of ‘stickier’ inflation
The International Monetary Fund (IMF) released its latest World Economic Outlook (WEO). The numbers pointed to slower global growth and revised lower from the previous WEO. In the U.S. economy, there is a threat of stagflation, with the real GDP growth rate slowing to 1.6 percent in 2023 and 1.1 percent in 2024, the IMF […]
European Central Bank raises interest rates amid banking crisis, prepares to provide liquidity support to financial system
The European Central Bank raised interest rates by 50 basis points on Thursday, despite the banking crisis that has decimated global financial markets. ECB head Christine Lagarde increased the benchmark policy rate to 3.5 percent, the deposit facility rate to three percent, and the marginal lending rate to 3.75 percent. There had been speculation that […]
Republicans, Democrats try to stop Bidenflation; AOC still doesn’t understand root inflation cause
By: Andrew Moran Despite House Democrats still thinking that the war in Ukraine and auto part supply shortages caused 40-year high inflation, dozens of them joined the Republicans in holding President Joe Biden accountable for any efforts to exacerbate Bidenflation. At a time when inflation appears to be reaccelerating, will requesting greater scrutiny over fresh spending efforts by […]