ANALYSIS: Japan Faces Cost Inflation Amid Weak Yen, Slow Wage Growth
By Max Sato (MaceNews) – Rising energy and commodities prices may help lift Japan’s near-zero inflation rate but a further rise in the costs for daily necessities would dampen already wobbly consumer spending and surging producer prices would hurt small businesses that cannot pass higher input costs on to customers amid uncertain growth prospects. Japan […]
Fed’s Beige Book Sees ‘Significantly Elevated Prices’
WASHINGTON (MaceNews) – The Federal Reserve’s survey of economic conditions coast to coast Wednesday found “significantly elevated prices” and some regional Fed districts in which growth slowed, hampered by labor shortages, supply disruptions and, of course, the Delta variant. Auto sales declined and some districts “noted increased uncertainty and more cautious optimism than in previous […]
Pres Biden’s ‘Build Back Better’ Getting Makeover
By Eric Ham WASHINGTON (MaceNews) – President Biden met with House progressives who then signaled major changes to the legislation to expand the social safety net. Tuition-free community college, a major priority of the White House, will be dropped. Moreover, the child tax credit — another key Democratic priority — would likely be extended for […]
Bundesbank’s Weidmann Makes Surprise Announcement, to Step Down at Year End
— ECB Governing Council to Lose One Of Its Most Hawkish Rate Setters By Laurie Laird LONDON (MaceNews) – Jens Weidmann, president of Germany’s Bundesbank, will relinquish his position at the end of 2021, ridding the European Central Bank of one its most hawkish voices. Weidmann has asked German President Frank-Walter Steinmeier to “dismiss” him […]