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The Latest Breaking News from Paul Volcker

Liz Truss faces a financial whirlwind – will her plans for the economy work?

Liz Truss may have won the battle to become Britain’s next prime minister, but don’t expect much time for her to settle into office. People’s living standards are predicted to fall by an unprecedented 10% over the next two years, driven by rising prices of energy and other goods.

The Conversation

Market Wrap: Tough talk from the US and a BHP stock shock dominate this week’s markets

US markets tumbled this week after the Federal Reserve chair made a hawkish rates speech, while BHP shares dragged down the ASX

The New Daily

Are Bears Ready to Push Stocks Back to June Lows?

The recent 18% rally for the S&P 500 (SPY) was a flight of fancy. Fed Chairman Powell made sure that message was heard loud and clear from the mountain tops in Jackson Hole. This sets up for an interesting fork in the road where dropping back down the June lows…

StockNews.com

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The United States Is Fighting Inflation With History

Fed chief Jerome Powell wants the world to understand his present decisions are guided by past traumas.

Foreign Policy

Climate change alters life at Fed's Jackson Hole conference

When officials of the Federal Reserve Bank of Kansas City sought a location for an annual economic symposium in 1981, they chose Jackson Hole, Wyoming, for a simple reason: It had fly-fishing

The Independent UK

If interest rates are raised high enough to kill off inflation, how bad will the consequences be?

Cineworld has signalled its intention to declare bankruptcy. Like many companies in the UK and elsewhere, the London-based cinema chain took on massive amounts of debt to expand. It is expected to use the Chapter 11 process in the US to restructure its debt and other obligations.

The Conversation

More than rate hikes needed

As inflation in the United States reaches new heights, economists are debating how high the Federal Reserve will need to hike interest rates to curb demand and rein in price growth. Some commentators believe that the Fed will need to be as aggressive as Fed Chair Paul Volcker in the…

Bangkok Post

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Meet the Fed, the latest superpower to emerge from Washington's shadows

Few voters may be thinking of Jerome Powell as they go to the polls in November, but all will be coping with economic conditions strongly influenced by Powell's Federal Reserve Board.

WEKU

A Historical Analysis of Commodity Cycles from the 1970s to 2020s

The global economy periodically experiences steep movements in commodity prices, causing cyclic booms and busts. These are called commodity cycles, a complex process emerging from macroeconomic shocks, supply chain bottlenecks, and policy failures.

Benzinga

The Fed's mission improbable: Beating inflation without causing a recession

Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.

WEKU

Pershing Square's Bill Ackman Weighs In Following Scorching Inflation Data

Consumer price inflation data set a new 40-year high in June, according to the U.S. Labor Department.

Benzinga

For Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s

Federal Reserve chairman Jerome Powell is raising interest rates at the fastest pace since the 1980s. That has been easy so far because rates are low and the economy has been strong.

Bangkok Post

Long, moderate and painful: What next US recession may look like

Recessions, like unhappy families, are each painful in their own way.

Tribune News Service

Tough action on interest rates in the US. But how rattled is the US Federal Reserve?

Wall Street braces for rises in borrowing costs in July and September as 8.6% inflation spurs on central bank

The Guardian - UK

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Tribune News Service

Stocks’ pandemic bull run ends with recession fear: Markets wrap

U.S. stocks entered a bear market, Treasury yields spiked to levels not seen in a decade and the dollar rallied as the fallout from a hot inflation reading continued to rattle global trading already shaken by worries the Federal Reserve will plunge the economy into a recession.

Newsroom.co.nz

Europe’s path to Mexico’s debt crisis

The writing is on the wall that Europe’s monetary party is about to end, and Southern Europe has remarkable parallels to Mexico and Latin America in the 1980s, writes Oliver Hartwich

Axios

New research says inflation is rising faster than data suggests

This month's inflation print comes amid an important debate over how to compare today's numbers to the past.

The Independent UK

Worry about stagflation, a flashback to '70s, begins to grow

Stagflation

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Tribune News Service

Ramesh Ponnuru: The Fed risks future pain if it fails to curb inflation today

A consensus has formed that the Federal Reserve waited too long to start tightening money. Ben Bernanke, the former Fed chairman, has said so. Janet Yellen, another former chairman who now serves as Treasury secretary, has implicitly agreed, saying that she, like many other observers, underestimated how high inflation would…

The New Daily

Alan Kohler: It’s 1973 all over again, but with a greater energy cost for Australia

After a century of gearing the entire global economy to burning fossil fuels, it was never going to be easy or cheap to switch to sunshine and wind.

The Independent UK

Worry about stagflation, a flashback to '70s, begins to grow

Stagflation

WEKU

Powell is confirmed to a 2nd term as Fed chair. Fighting inflation will be his focus

Jerome Powell was confirmed to a second term as Federal Reserve chairman. The Senate vote comes as the central bank faces intense pressure to bring down inflation.

WEKU

Fed Chair Jerome Powell is confirmed for a 2nd term. Inflation will be his focus

Jerome Powell was confirmed to a second term as Federal Reserve chairman. The Senate vote comes as the central bank faces intense pressure to bring down inflation.

Benzinga

Why The Fed Will Whip Inflation This Time Around

I was a mere child in the 1970's, but as a student of history I have learned about the difficulties for the public and the economy during that decade. Long gas lines, extremely high inflation, high unemployment were just the most visible problems. During the Ford Administration, buttons were passed…

Evening Standard

City comment: Bank of England should take a leaf out of the Fed’s book on inflation

In 1979, with inflation at 11% and rising, newly appointed Federal Reserve chairman Paul Volcker called a surprise Saturday press conference in October to announce he was shaking up the central bank’s plans to get a handle on rising prices.

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