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Wall Street Journal (June 27)

2022/ 06/ 28 by jd in Global News

“Workers throughout the economy are demanding bigger raises to compensate for soaring prices. This could push inflation higher as companies pass along higher wage costs in the price of goods and services.” Though bond markets haven’t determined “how serious the Fed is about controlling inflation… workers aren’t waiting to find out as they seek higher pay.”

 

The Economist (June 11)

2022/ 06/ 13 by jd in Global News

“Britain is stuck in a 15-year rut. It likes to think of itself as a dynamic, free-market place, but its economy lags behind much of the rich world. There is plenty of speechifying about growth, and no shortage of ideas about how to turn the country round. But the mettle and strategic thinking that reform requires are absent.”

 

Morningstar (June 3)

2022/ 06/ 06 by jd in Global News

“Job and wage growth” finally appear to be “moderating, and that’s good news.” This can get hidden by monthly volatility. However, the three-month rolling average of job gains “stood at a lofty 602,000” in February. “It’s now 408,000.” The economy looks to be “shifting to a steadier, healthier pace of growth.”

 

Financial Times (June 2)

2022/ 06/ 04 by jd in Global News

“Cloudy with chance of hurricanes for Wall Street.” Jamie Dimon the head of JPMorgan Chase, started the rush to use “meteorological metaphors to make sense of the economic turbulence.” After speaking of big storm clouds and a hurricane striking the economy, other bankers followed suit. Only a few, like Goldman Sachs chief John Waldron, refused to play along. He rejected the use of “any weather analogies,” but largely agreed the outlook is complex and dynamic, “The confluence of the number of shocks to the system, to me, is unprecedented.”

 

BBC (June 1)

2022/ 06/ 02 by jd in Global News

“It was supposed to last just nine days – a staggered lockdown to lessen the impact on Shanghai’s economy…. It lasted 65 days. It crippled the city and scarred its people. Restrictions are now being eased as quickly as they were imposed.” Like a “big bang,” most of the pervasive measures “are simply being lifted.”

 

Reuters (May 27)

2022/ 05/ 29 by jd in Global News

Covid-related restrictions “have battered the world’s second-biggest economy even as most countries have been seeking to return to something like normal.” Although “China’s economy is now staggering back to its feet,” the recovery remains “grinding and partial… with businesses from retailers to chipmakers warning of slow sales as consumers in the country slam the brakes on spending.”

 

MarketWatch (May 15)

2022/ 05/ 16 by jd in Global News

“A big bounce for stocks on Friday still leaves the main U.S. stock market benchmark close to entering a bear market as investors fret over the Federal Reserve’s ability to get a grip on inflation without sinking the economy stokes fears of stagflation — a pernicious combination of slow economic growth and persistent inflation.”

 

New York Times (May 11)

2022/ 05/ 13 by jd in Global News

The weak yen, coupled with soaring food and energy costs, “are posing yet another challenge for the world’s third-largest economy as Japan trails other major nations in emerging from the economic blow of the pandemic. The rise in prices has spooked Japanese consumers used to decades of stability, and the weak yen is starting to look as if it will depress demand at home more than stimulate it abroad.”

 

Washington Post (May 8)

2022/ 05/ 09 by jd in Global News

“Why are Americans so gloomy about the economy? Jobs are plentiful and unemployment is back at pre-pandemic lows, yet sentiment is in the dumps.” Inflation is “the obvious answer,” but “a deeper force” better explains “why Americans are so upset: scarcity.” Inventories of homes and cars are at record lows while stockouts at supermarkets are double or triple standard levels. “There is good economic news, but until Americans can easily get ahold of what they want, too many will still feel like they’re not able to get ahead.”

 

Reuters (May 6)

2022/ 05/ 08 by jd in Global News

As criticism mounts, both domestically and overseas, the Chinese Communist Party has come out forcefully to “fight any comment or action that distorted, doubted or repudiated its COVID policy.” It stresses that “relaxing COVID controls… would lead to large-scale infections.” The People’s Daily newspaper even used an editorial to dispute “accusations China’s COVID policy was disrupting global economy and trade.”

 

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