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The Canadian prime minister woos U.S. businesses on a New York trip after months of seeking new economic partners elsewhere
But insurance rates for tankers passing the strait — the most important indicator of whether the waterway is “reopening” — haven’t budged
Florida officials had asked the justices to hear a lawsuit accusing California and Washington of improperly granting licenses to an immigrant accused in a fatal crash
European Central Bank Vice President Luis de Guindos discusses the impact of the energy supply shock on inflation and euro-area growth. “If you look at soft indicators, sentiment indicators, these indicators clearly point at an important impact on growth,” Guindos says during an interview with Bloomberg’s Mark Schroers. (Source: Bloomberg)
A household using a typical amount of energy will pay £221 a year more, under the regulator's new price cap
The United Kingdom sanctioned a large crypto exchange, accusing it of "supporting the government of Russia."
Oil prices fell, giving back some of the gains from the previous day as attacks in the Middle East raised concerns about the war starting again
The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon. Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal Reserve chair in recent memory. Why it matters: The 17th Fed chair, sworn in Friday at the White House, inherits a set of economic conditions that make it difficult to justify cutting rates. Despite President Trump's unprecedented pressure on Warsh's predecessor, Jerome Powell, to cut rates, the president struck a different tone on Friday."Honestly, I really mean this: I want Kevin to be totally independent and just do a great job. Don't look at me, don't look at anybody. Just do your own thing and do a great job," Trump said at Warsh's swearing-in ceremony. What they're saying: "Our mandate at the Fed is to promote price stability and maximum employment," Warsh said. "When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher, and America can be more prosperous, and no less important, America's place in the world more secure.""To fulfill this mission," he added, "I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes, both escaping static frameworks and models, and upholding clear standards of integrity and performance." The intrigue: Not long before Warsh was officially sworn into the post, Fed governor Christopher Waller gave a notable speech that cemented his hawkish pivot. Just months ago, he was a leading advocate for rate cuts to boost what he saw as a souring labor market. Waller's speech, aptly titled "Policy Risks Have Changed," suggests his view has flipped.Waller said it might be appropriate to strip the Fed's policy statement of its "easing bias" language, aligning with a group of Fed presidents who dissented last month over the inclusion of such a signal. Zoom i
GDP grows 6 percent year-on-year in first quarter as AI boom outweighs rising energy costs
As the Chancellor prepares her Budget, attention is turning not just to how she could raise more tax - but how she might cut spending. Where does the government actually spend its money? Why is it so difficult to reduce that spending in practice? And what would it take to genuinely pare back the size of the state? Helen Miller is joined by IFS colleagues Ben Zaranko and Tom Waters to unpack the realities behind public spending. They look at how the government’s budget is divided across welfare, public services, and investment; how pressures such as an ageing population, defence commitments and struggling services constrain choices; and whether efficiencies or productivity gains could ever plug the gap. Become a member: https://ifs.org.uk/individual-membership Find out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts Hosted on Acast. See acast.com/privacy for more information
Chinese investors are rushing to find alternative ways to buy and sell overseas equities after Beijing launched its most forceful crackdown on illicit cross-border stock trading to stem capital outflows