United States:
Powell Facing Choice Between Elevated US Inflation and Recession
“Federal Reserve Chair Jerome Powell is facing an increasingly grim calculus after yet another hot inflation reading last week: He probably has to push the economy into recession in order to regain control of prices.”
Europe:
UK Jobs Market May Be Loosening With Surprise Drop in Median Pay
“Britain’s labor market showed tentative signs of easing with the first drop in median wages in almost a year. The mid-point in the earnings spectrum slid to £2,076 a month, according to real-time tax authority data. published by the Office for National Statistics. It took annual growth in median pay to a seven-month low of 5.4%.”
Asia:
China Is Walking Back Virus Loosening Weeks After Reopening
“China is starting to re-impose Covid-19 restrictions just weeks after major easing in key cities, raising concern the country may once again employ strict lockdowns to control its outbreak.”
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