Falling Jobless Rate Is Set to Complicate Fed’s Inflation Fight
“The U.S. unemployment rate probably fell to 3.5% in April, matching the lowest reading since the 1960s, and many economists expect it to keep declining — potentially complicating the Federal Reserve’s fight against inflation. The reason? Red-hot labor demand doesn’t appear to be cooling any time soon. Job openings and quits are back to fresh highs, and employment costs are growing at a record pace.”
BOE Sees Risk of U.K. Recession With Inflation Above 10%
“The Bank of England issued the most gloomy outlook of any major central bank this year, warning Britain to brace for double-digit inflation and a prolonged period of stagnation or even recession.”
China’s Services Activity Plunges to Lowest Since Early 2020
“China’s services activity slumped to its weakest level in more than two years in April as Covid outbreaks and lockdowns continued to pummel consumer spending and threaten economic growth.”
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