Overseas Headlines – March 7, 2022

United States:

Fed’s Urgency for Steep Rate Hikes Lessens After Wage Gains Cool

“Jerome Powell’s push to limit the Federal Reserve’s interest-rate liftoff this month to a quarter percentage point was bolstered by unexpectedly stagnant wages amid strong hiring seen in February’s jobs report. While employers added 678,000 to payrolls and unemployment fell to 3.8%, average hourly earnings were little changed from January.”



U.K. Can Afford Inflation-Beating Pay Rise for Public Workers

“The U.K. government can afford to give the country’s 5.5 million public-sector workers an inflation-busting pay rise, according to its own official forecasts.”



China’s Ambitious GDP Goal a Boost to Slowing World Economy

“China’s ambitious GDP target could prove to be a modest boost for a beleaguered global economy that’s grappling with stagflationary pressures from Russia’s war in Ukraine.”



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