American capitalism is at a crossroads, facing three key questions about what direction it should take. Which paths offer the greatest opportunities?
The path forward offers historic opportunity, marked by continuing innovation and prosperity. But it is also filled with potholes and potential wrong turns. Source link
Incoming Fed Chairman Kevin Warsh wants the central bank to consider alternative measures of inflation when setting monetary policy—some of which show price pressures actually are much lower
To measure underlying inflation, the new chairman has urged the central bank to look at alternatives to its standard gauge. Source link
China’s manufacturing activity stayed flat in May after expanding for two straight months, reflecting the pressure from rising energy costs since the Middle East conflict began
China’s manufacturing activity stayed flat in May after expanding for two straight months, reflecting the pressure from rising energy costs since the Middle East conflict began. Source link
Japan Confirms Yen Intervention Over Past Month, Spending Record Sum
Japan spent more than $73 billion between April 28 and May 27 to lift its currency relative to the dollar. Source link
Fed’s Bowman Wary of Reacting to Short-Term Energy Inflation
Fed governor Michelle Bowman said reacting to temporarily elevated energy-price inflation would add unwarranted policy restraint, weighing unnecessarily on economic activity and labor-market conditions. Source link
Week Ahead for FX, Bonds: U.S. Jobs, ISM Data in Focus
U.S. jobs data and ISM surveys on manufacturing and services activity will be in focus as investors assess the outlook for Federal Reserve interest rates. Source link
Chicago Business Activity Surges in May
The Chicago Business Barometer, compiled by MNI Indicators, rose to 62.7 in May from 49.2, a level of contraction in April. Source link
Canada GDP Dips 0.1% in First Quarter
Canada’s economy unexpectedly shrank for a second consecutive quarter with a dip in activity to start the year as exports faltered but imports rose and weakness in business and government…
French Inflation Rises to More-Than Two-Year High as Energy Costs Intensify
The result puts the European Central Bank on course to raise interest rates for the first time since 2023 when it next meets in June. Source link
Labor’s share of economic output just hit an all-time low, while the profit share hit a near-record. The divide helps explain why consumers feel so glum, writes @greg_ip
Labor’s share of economic output just hit an all-time low, while the profit share neared a record. It helps explain why consumers feel so glum. Source link
