Overseas Headlines – June 14, 2022

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.”



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%.”



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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