Bloomberg Businessweek (May edition)
“For decades, global economic crises have prompted the world to band together.” Such a “coordinated response” looks unlikely today. “As central bankers and heads of state contemplate the potential fallout from the Iran war and the biggest energy crunch in half a century… it looks increasingly unlikely there’ll be another spurt of unified action. The spirit of cooperation is no longer there…. After years of responding to economic shock after economic shock, we’ve been left woefully unprepared to deal with another one.”
Tags: Central bankers, Cooperation, Coordinated response, Economic crises, Energy crunch, Global, Heads of state, Iran war, Potential fallout, Unified action
Los Angeles Times (May 4)
“Inflation surged to 3.5% in March — the highest level in nearly three years — as gas prices climbed above $4.40 due to Middle East tensions, yet consumers barely flinched. The U.S. economy expanded at a 2% annual rate in the first quarter while unemployment claims hit a 50-year low, signaling unexpected resilience despite inflation pressures.”
Tags: Consumers, Economy, Expanded, Gas prices, Inflation, March, Middle East, Q1, Surged, Tensions, U.S., Unemployment claims, Unexpected
