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Great links, images, and reading from Chartbook Newsletter by Adam Tooze
Great links, images, and reading from Chartbook Newsletter by Adam Tooze
The updated accord between the European Union and Mexico removes most remaining barriers to trade and investment. President Sheinbaum said Mexico's respective trade deals with the EU and the US were "not contradictory."
Since the publication of our November 2025 Economic and fiscal outlook (EFO) we have received requests for further detail on a range of policy costings, including changes to capital gains tax relief for qualifying disposals to employee ownership trusts, reforms to the non‑domicile regime, the introduction of a high‑value council tax surcharge, changes to the. The post Supplementary forecast information on costings relating to the November 2025 Economic and fiscal outlook appeared first on Office for Budget Responsibility
Markets expect central bank to lift borrowing costs by end of year as Iran war intensifies inflation
Hui and Evergrande also face charges of illegally extending loans, fraudulently issuing securities and bribery, says a Shenzhen court
Officials said the measures aim to target the financial infrastructure behind scams, including platforms used to sell stolen data
Benchmark Brent crude surpassed $120 per barrel on Wednesday, reaching the highest levels yet seen during the US-Israel-Iran war
When pressed on timing, Jerome Powell said: “I will leave when I think it's appropriate to do so.”
The Federal Reserve left interest rates steady in what was almost certainly Jerome Powell's final meeting as its leader, but there were the most internal dissents at a Fed meeting in 34 years. The big picture: The surprising dissents show that Kevin Warsh, whose confirmation to lead the Fed is pending in the Senate, will face significant internal resistance to delivering the interest rate cuts that President Trump desires. Driving the news: The central bank's policy committee left its target interest rate in a range between 3.5% and 3.75% for the third straight meeting to start 2026 and made only small changes to its policy statement. Three reserve bank presidents — Beth Hammack (Cleveland), Neel Kashkari (Minneapolis) and Lorie Logan (Dallas) — dissented not against the rate decision, but because they "did not support inclusion of an easing bias in the statement at this time."Governor Stephen Miran also dissented, but in the other direction, favoring an interest rate cut.The four total dissents were the most there have been at a Fed policy meeting since October 1992. State of play: There has been simmering resistance among Fed officials, especially at the reserve banks, to signaling that further interest rate cuts are anticipated, given five consecutive years of above-target inflation. Now, it has burst out into the open, in Powell's final meeting at the helm.Powell's term concludes May 15, and Warsh's nomination to be his successor advanced through the Senate Banking Committee Wednesday morning. Warsh appears on track to be confirmed by the full Senate well before the next Fed meeting in mid-June. Between the lines: The clause in the policy statement the three dissenting reserve bank presidents object to is language, repeated from recent statements, that in considering "the extent and timing of additional adjustments" to rates, the Fed will carefully assess data, the outlook and balance of risks. ·The phrase "additional adjustments" implies a continuation of the r
Exxon Mobil Corp. and Chevron Corp. exceeded profit expectations as higher oil and natural gas prices outweighed production outages from the Iran war