Overseas Headlines – May 30, 2022

United States:

Fed Won’t Flinch as Labor Market Starts Tailing Off

“The upcoming US jobs report is projected to show the labor market, while still tight, may be starting to transition to more moderate payrolls growth from out-sized monthly advances. Payrolls probably increased by about 325,000 in May after rising 428,000 in each of the previous two months, according to the median estimate in a Bloomberg survey of economists ahead of Friday’s report.”



German Inflation Hits Fresh Record, Piling Pressure on ECB

“German inflation hit another all-time high, adding urgency to the European Central Bank’s exit from crisis-era stimulus after numbers from Spain also topped economists’ estimates. Driven by soaring energy and food costs, data released Monday showed consumer prices in the continent’s biggest economy jumped 8.7% from a year ago in May. Analysts surveyed by Bloomberg predicted an 8.1% advance.”



China Goes All Out to Harvest Wheat to Blunt Inflation Threat

“At a time when food shortages and soaring prices are becoming a major concern for governments around the world, China is going all out to make sure that its summer wheat harvest proceeds without any hitches. Premier Li Keqiang stressed that the reaping of crops should proceed without hindrance as he gave special instructions to the national summer harvest work meeting late last week, according to a report in the official Xinhua News Agency.”




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