November jobs report is most important data for inflation this year- and not in a good way

November jobs report is most important data for inflation this year- and not in a good way

The November U.S. jobs report on Friday showed the U.S. economy gained 261,000 jobs last month, with the unemployment rate holding steady at 3.7%. Economists polled by the Wall Street Journal had expected an addition of 200,000 jobs. Wages jumped 0.6% in November, double the expected pace. Below are some initial reactions from economists and … Read more

Fed’s shrinking of balance sheet via quantitative tightening is ‘a complete mistake,’ says Mizuho

Fed’s shrinking of balance sheet via quantitative tightening is ‘a complete mistake,’ says Mizuho

The Federal Reserve’s attempt at shrinking its balance sheet through so-called quantitative tightening, or QT,  is “a complete mistake,” according to Mizuho’s chief economist for the U.S. “There is a nontrivial probability that market liquidity will be adversely affected well before the targeted $2 trillion has been rolled off, preventing the Fed from accomplishing its … Read more

Indian owners of failed West Australian coal in $1 billion quest to salvage calamitous bet

Indian owners of failed West Australian coal in  billion quest to salvage calamitous bet

The giant Indian bank behind a failed coal mine at the centre of Western Australia’s growing energy crisis is seeking almost $1 billion to salvage its disastrous position.   ICICI, which is India’s biggest private bank, has plunged about $1.1 billion into the Griffin Coal mine, which was put into receivership in September owing almost $1.5 billion. … Read more

The Victorian Liberals say the state’s debt is larger than any other state and larger than NSW, Queensland and Tasmania combined. Is that correct?

The Victorian Liberals say the state’s debt is larger than any other state and larger than NSW, Queensland and Tasmania combined. Is that correct?

The claim A central theme of the Victorian Opposition’s election campaign has been saying Labor created a “debt disaster” for the state. The release of the Department of Treasury and Finance’s pre-election budget update prompted a fresh attack from the Liberals’ shadow treasurer, David Davis. “The Pre-Election Budget Update (PEBU) has confirmed Labor’s debt disaster … Read more

Economists warn of yet more tax rises to come as borrowings hits £13.5bn

Economists warn of yet more tax rises to come as borrowings hits £13.5bn

E conomists today warned that a further round of bruising tax rises in the Spring Budget “cannot be discounted” as public borrowing surged to £13.5 billion in October. The latest increase – up from £9.2 billion last year – pushed total public debt to £2.46 trillion. The represents 97.5% of GDP, the highest ratio since … Read more

Doctors and senior nurses could get HELP debt paid off for working in remote Australia

Doctors and senior nurses could get HELP debt paid off for working in remote Australia

Medical students have welcomed a federal government plan to wipe doctors’ and senior nurses’ student debt if they go bush after graduating. Key points: Eligible workers who stay in the most remote parts of Australia for a certain length of time can get their student debt fully paid off The move has been welcomed by the … Read more

Fed warns of ‘low’ market liquidity in $24 trillion Treasury market, in latest financial stability report

Fed warns of ‘low’ market liquidity in  trillion Treasury market, in latest financial stability report

The Federal Reserve on Friday confirmed what many investors were saying for some time: the $24 trillion Treasury market has been experiencing low levels of market liquidity in recent months. The central bank has been rapidly increasing interest rates since March as part of a fight to bring inflation down from a 40-year high. The … Read more

Book notes: Yellen: the trailblazing economist who navigated an era of upheaval, by Jon Hilsenrath

Book notes: Yellen: the trailblazing economist who navigated an era of upheaval, by Jon Hilsenrath

Jon Hilsenrath, Yellen: the trailblazing economist who navigated an era of upheaval, Harper Collins, 2022, 400 pages This book provides a powerful story of the illustrious career of Janet Yellen – in my view, the most successful economist in the world. Yellen has gained particular notoriety as the first female chair of the Board of … Read more

Crackdown on companies run by 'Mickey Mouse' and fake movie stars | The Business | ABC News – ABC News (Australia)

Crackdown on companies run by 'Mickey Mouse' and fake movie stars | The Business | ABC News – ABC News (Australia)

Crackdown on companies run by ‘Mickey Mouse’ and fake movie stars | The Business | ABC News  ABC News (Australia)

U.S. inflation still running hot, key PCE price gauge shows

U.S. inflation still running hot, key PCE price gauge shows

The numbers: A key gauge of U.S. inflation rose a mild 0.3% in September, aided by the lower cost of gas. Yet prices are still going up even if they aren’t climbing as fast as they were earlier in the year. Another measure of inflation that omits volatile food and energy costs rose a sharp … Read more