Richmond Federal Reserve President Thomas Barkin remains unfazed by the recent weaker-than-expected U.S. jobs data. In a recent TV interview with the Carolina Business Review, Barkin stood firm in his commitment to his current monetary policy outlook. Despite the unexpected dip in job growth for July, he made it clear that he is not one
Economy
The recent data on U.S. job growth in July has sparked concerns about the health of the labor market. With job growth slowing more than expected and the unemployment rate increasing to 4.3%, there are fears that the economy may be becoming vulnerable to a recession. Nonfarm payrolls increased by 114,000 jobs last month, falling
Investors around the world are bracing themselves for another tumultuous day in the stock market. A recent report on U.S. manufacturing has sent shockwaves through global markets, sparking concerns about the state of the economy and the Federal Reserve’s future actions. With risk assets taking a hit, many are left wondering what the future holds
The German Finance Ministry is currently grappling with a 17 billion euro budget shortfall, prompting discussions on how to address this financial gap. However, the advisory board to the ministry has raised concerns about the three proposed options, deeming them problematic. In a letter seen by Reuters, the advisory board highlighted their reservations about the
The European Central Bank (ECB) has been facing challenges in keeping inflation at its 2% target due to a weak euro zone economy. According to ECB policymaker Yannis Stournaras, the low economic growth in the region could lead to inflation falling below the target, prompting the need for interest rate cuts. Stournaras, who is known
During the recent July meeting, Chairman Jerome Powell hinted at the possibility of a rate cut in the near future, citing favorable inflation data as a key factor in the decision-making process. While the specifics were not outlined, Powell’s comments suggested that the bar for a rate cut in September is relatively low, according to
China’s manufacturing activity has continued to shrink for the third consecutive month in July, according to an official factory survey released on Wednesday. This ongoing trend has raised concerns about the need for Beijing to implement further stimulus measures to counteract the negative impact of a protracted property crisis and job insecurity on economic growth.
British finance minister Rachel Reeves recently announced that she would need to raise taxes in the upcoming budget, citing a 22 billion pound shortfall. This move was expected after the Labour Party’s election win, highlighting the financial challenges facing the country. In a recent interview with The News Agents podcast, Reeves confirmed that tax increases
Oil prices have been trading near seven-week lows due to a softening demand outlook that has weighed on commodities. Despite tensions in the Middle East and Venezuela, traders have been focusing on worries over Chinese demand, leading to a decrease in oil prices. Brent crude futures hit $79.36, reflecting the cautious sentiment in the market.
In a recent address to Parliament, Britain’s new finance minister, Rachel Reeves, highlighted the dire state of the country’s public finances. Coming into office after a landslide victory on July 4, the Labour government inherited a situation where public spending was set to exceed budget by a substantial 21.9 billion pounds. Reeves wasted no time
As the Federal Reserve officials gear up for their upcoming meeting, all eyes are on the potential for a rate cut in September. Evercore ISI strategists believe that while the Fed is likely to hold rates steady this time, there could be a signal for a 25 basis point cut at the next meeting. The
The article discusses the upcoming central bank meetings of the Federal Reserve, the Bank of England, and the Bank of Japan. It mentions that the Federal Reserve is expected to keep its benchmark interest rate steady at the current range but hints at a possible rate cut in September due to signs of cooling prices.