A former top Fed official suggested the central bank reject interest-rate cuts that would help Donald Trump’s 2020 reelection prospects. The comments drew swift criticism bloom.bg/2zqzXtW
Critics said former NY Fed President Bill Dudley's comments for @bopinion could jeopardize independence of the Federal Reserve — which is already under fierce attack from Donald Trump bloom.bg/2zqzXtW
@bopinion Dudley argued the Fed risks enabling further trade war escalation by Trump and it should say explicitly that officials “won’t bail out an administration that keeps making bad choices on trade policy.”
It’s not gone, but has turned into a catalyst for lasting economic change trib.al/FqYZBGm
Now in its third year, the pandemic has dramatically reshuffled the job market with Americans working on the go as companies scramble to hire while also investing in automation and e-commerce to remain competitive trib.al/FqYZBGm
Politicians have discovered the power of direct payments and consumers are grappling with the biggest jump in the cost of living for generations trib.al/FqYZBGm
Justin Trudeau’s finance minister unveils a more prudent budget than expected, keeping new spending in check and using a revenue windfall to help narrow deficits to near zero within five years trib.al/b2fTKi1
Canada plans to increase sales of short-term debt this year, even as its finances improve from a revenue windfall bloomberg.com/news/articles/…
Justin Trudeau is attempting to rein in one of the world’s most expensive housing markets bloomberg.com/news/articles/…
Even as delta risks loom, early signs from the 3rd quarter show growth accelerating and inflation peaking after its recent jump, a reassuring sign for policy makers and investors worried about the risks of faltering demand and surging prices (THREAD) bloomberg.com/graphics/globa…
Bloomberg Economics nowcasts bring together hundreds of data points to provide a high frequency read on the pace of growth. Beneath the robust headline global number, the country nowcasts reveal economies at very different stages of recovery: bloomberg.com/graphics/globa…
As for inflation, some worry the rebound from the recession will prove long-lasting, limiting the scope for central bankers to maintain stimulus & distracting them from their focus on healing labor markets & the broader economy. But the nowcasts suggest some room for confidence:
THREAD: 1)🌊From Seoul to Sydney and Beijing to Bangkok, Asian economies are being upended as the delta variant surges. Here are the indicators economists are watching to gauge how the latest wave is playing out, @endacurran and @hongjinshan report
2)⛔Australia’s two largest cities are in lockdown while China is imposing curbs in the middle of the summer break. Google's mobility data show the slowdown in work and retail activity due to virus restrictions in major economies such as Japan and India. trib.al/XOXnNYd
3) ✈️🇨🇳Flights: Seat capacity plunged 32% in just one week in China as the government imposed new restrictions on movement. The stumble sent global capacity on a weekly 6.5% slide, with travel also stagnating in Europe and North America. trib.al/XOXnNYd
U.S. consumer prices probably rose in July at the slowest pace in 5 months, marking a deceleration that stops short of full relief from cost increases weighing on sentiment and driving political debate (THREAD) bloomberg.com/news/articles/…
The monthly CPI index is seen climbing 0.5%, according to the median projection in a Bloomberg survey ahead of data this week. Stripping out volatile food & energy components, the core measure of prices is forecast to rise 0.4% after a 0.9% advance in June bloomberg.com/news/articles/…
The pace of increase already exceeded expectations for 4 straight months. That has been mostly linked to categories associated with the broader economic reopening, bolstering the view of most Fed members makers that such price gains are temporary bloomberg.com/news/articles/…
Here are the key highlights from Justin Trudeau’s pre-election budget trib.al/xaU520n
Justin Trudeau’s government sets the table for a possible election with a budget that promises big spending on new programs like childcare bloomberg.com/news/articles/…
In a bid to address Canada’s surging housing costs, Justin Trudeau’s government promises to increase supply and target foreign owners bloomberg.com/news/articles/…