In the latest IMF Finance and Development journal (March 2023), there is an interesting article by the former governor of the Bank of Japan, Masaaki Shirakawa – It’s time to rethink the foundation and framework of monetary policy. It goes to the heart of the complete confusion that is now being demonstrated by central bank…
inflation
‘Neither’ and ‘don’t know’ vote dwarfs score for either party leader – and no surprise there Both Keir Starmer and Rishi Sunak – two sides of the same dire, droning coin – were soundly beaten in the latest Opinium poll of voter assessment of who would make the best prime minister. The appalling Sunak managed […]
The lockdowns and the stimulus required to keep the economy alive helped drive inflation. Then the Fed jacked up interest rates. And all hell broke loose. On Friday March 10th, 2023, Silicon Valley Bank (SVB) died of Covid. Alright, it’s a little more complicated than that, but Covid lockdowns followed by massive government stimulus were a critical – and massively under-acknowledged – factor in propelling the bank’s demise. At the heart of the crisis is the gigantic pile of low-interest […]
The post How Covid lockdowns primed the current financial crisis appeared first on The Grayzone.
The transitory view of the current inflation episode is getting more support from the evidence. Yesterday’s US inflation data from the Bureau of Labor Statistics (March 14, 2023) – Consumer Price Index Summary – February 2023 – shows a further significant drop in the inflation rate as some of the key supply-side drivers abate. All…
In the light of recent debates about whether we are back in the 1970s, where the only ostensible similarity is that inflation has accelerated over the last year or so, I dug into my data archives to remind myself of a few things. One of the problems with dealing with official data is that it…
Yesterday (March 7, 2023) two big things happened. The first is that I got a lovely bunch of sunflower blooms for my birthday present. Which was ace. The second, the RBA Board wheeled out the governor to announce the 10th consecutive interest rate rise even though inflation has been falling for several months. The RBA…
By Dean Baker / Beat the Press (CEPR) The January data on consumer expenditures released yesterday had a lot of people freaking out. The story is that the Fed is going have to get out the big guns to really shoot inflation down. For those of us hoping that inflation would come down, without a […]
The post Is Inflation Out of Control, Again? appeared first on scheerpost.com.
At the same time these companies are acting like their hands are tied by supply disruptions, their profits have skyrocketed.
The post Distortion of Breakfast Price Hikes Leaves WSJ With Egg on Face appeared first on scheerpost.com.
The RBA governor has consistently sought refuge in claims that wage pressures in Australia are building and justify the central bank rate hikes – 9 consecutive increases since May 2022. The RBA has chosen to seriously mislead the Australian public on this issue and when confronted with publicly-available data that justifies that conclusion they claim…