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The Latest Breaking News from Paul Volcker

Why the US job market has defied rising interest rates and expectations of high unemployment

Last year’s spike in inflation, to the highest level in four decades, was painful enough for American households

The Independent UK · Sep 25, 2023

If there’s such a thing as an inflation quota, has Britain already exceeded it?

According to some in the City, the UK will have to keep prices flat for the next seven years to make up for the last three. Really?

The Guardian - UK · Jul 1, 2023

Bank of England interest rate rise: why this could be the last increase for a while

The Bank of England has increased its benchmark interest rate to 4.5% – the seventh rise since May 2022, when the base rate was just 1%. It is now at the highest level since 2008.

The Conversation · May 11, 2023

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America is drunk on credit–and polarized politics complicate the Fed’s unenviable challenge of ending easy money

If the economy tanks in the months ahead, Powell will get the blame. If we avoid a recession, the politicians will claim credit.

Fortune · May 9, 2023

OPINION - Britain’s fight against inflation has so far been cowardly and ahistorical

The case in favour of rapidly falling inflation in the UK hinged on the idea that energy prices would, at some point, collapse. You’d have thought therefore that headline inflation would already be down quite some way.

Evening Standard · Apr 24, 2023

‘Other things will break.’ Legendary investor Jeremy Grantham warns of more financial chaos and wants to see Powell ‘channel a little bit of Volcker’

Jeremy Grantham predicted the financial crisis in 2008. Now, he thinks the financial system could expect more chaos after the two banks failed in March.

Fortune · Apr 13, 2023

Volcker slayed inflation. Bernanke saved the banks. Can Powell do both?

History remembers Paul Volcker as the slayer of inflation, and Ben Bernanke as the crisis firefighter. Jerome Powell is in danger of having to play both roles at once — or, what may be worse, to choose between them.

Tribune News Service · Mar 24, 2023

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The bank collapses triggered by SVB have uncanny parallels to the savings and loan crisis of the 1980s

“The arithmetic behind it was timeless," George Ball of Sanders Morris Harris told Fortune.

Fortune · Mar 21, 2023

Nearly 90% of fund managers expect the U.S. to remain stuck in stagflation in the wake of a banking crisis, BofA survey says

With the Fed being "boxed in" by the latest banking crisis, experts are raising concerns about “greater chances of stagflation.”

Fortune · Mar 21, 2023

Tech industry builds in the ruins again

Silicon Valley's platform leaps always seem to happen in times of economic turmoil.

Axios · Mar 20, 2023

These 124 housing markets are weathering the home price correction (so far) in 1981 fashion

Among the nation's 400 largest housing markets tracked by Zillow, 124 markets remain at their peak.

Fortune · Feb 28, 2023

Jimmy Carter’s strength and weakness

While it’s admirable that Carter so clearly wants to do good work in the world (and often succeeds), it is also undeniable that he has demonstrated a do-gooder naivete that does not reflect well on him.

Chicago Sun-Times · Feb 24, 2023

Jimmy Carter has been wronged by history

Ronald Reagan, meanwhile, benefits from an eternal free pass

Financial Times · Feb 22, 2023

Alan Kohler: The undemocratic independent Reserve Bank

Politicians refer so often to the “independent” Reserve Bank that its initials should change to the IRBA, writes Alan Kohler.

The New Daily · Feb 12, 2023

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Fortune · Jan 19, 2023

Forget inflation, Jefferies says to watch out for a 'disinflation era' like the early 1980s

When former Fed Chair Paul Volcker hiked interest rates to quash inflation in the early 80s, a recession and disinflation followed. Jefferies sees a similar fate for the economy this year.

The New Daily · Jan 15, 2023

How long will we use human misery to control inflation?

An interest rate increase? On the agenda? Try eight, actually happening. Dr Lowe and his RBA colleagues did get left behind.

Bangkok Post · Nov 18, 2022

Monetary curbs have long-term consequences

The Spanish-American philosopher George Santayana famously warned that "those who cannot remember the past are condemned to repeat it". But sometimes even those who can recall the past have a selective memory and draw the wrong conclusions. This is how the global policy response to the current bout of inflation…

The Guardian - UK · Nov 13, 2022

Amid fiscal shock and awe, more austerity is the last thing we need

A collapse in credibility under the former Tory PM is being followed by a return to ‘sado-monetarism’ under the new one

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The Guardian - US · Nov 5, 2022

We need serious public policy, not more printed money – the US economy is in tatters

Decades of bailouts have convinced some that the Fed will always come to the rescue – but this only papers over the fundamental flaws of the US economy

Tribune News Service · Oct 28, 2022

Fed seen aggressively hiking to 5%, triggering global recession

Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a U.S. and global recession, economists surveyed by Bloomberg said.

Benzinga · Oct 28, 2022

Buckle Up For 2023: Inflation Is Still Rampant, New PCE Data Shows

U.S. inflation, as measured by the Federal Reserve's preferred Personal Consumption Expenditures (PCE) Price Index, remains unchanged at 6.2% annually in September, according to the Bureau of Economic Analysis.

Reason · Oct 27, 2022

The 'Experts' Were Never Going To Fix Inflation

The idea that the Fed has the knowledge necessary to control the economy with perfectly calibrated policies was always an illusion.

Bangkok Post · Oct 24, 2022

Higher Interest Rates Can Take a Long Time to Bring Down Inflation

The world's central banks face a nail-biting wait.

Benzinga · Oct 12, 2022

The Fed Is Skating To Where The Puck Was: Comparisons To Volcker's 1980s Inflation Are 'Conceptually Wrong,' Says This Economist

Unbeknownst to many, the gift for the 43rd anniversary of marriage is entertainment; to stretch it further, this fall marks the 43rd anniversary of a pivotal event in the history of the Federal Reserve and the U.S. economy.

WEKU · Oct 9, 2022

When your seatmate on the plane talks about the Fed, you know things aren't right

The woman next to me, who described herself as knowing "zero" about the economy, asked whether I thought the Federal Reserve would continue raising interest rates. I felt an acute sense of dread.

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