Unemployment
What is happening to US wages?
Economists disagree over causes of real wage stagnation
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
How US demographics complicate the Fed’s job
Ageing population and pandemic legacy are confounding economists’ predictions
Dallas Fed research casts doubt on ‘soft landing’
US Fed chair Jerome Powell sees US worker shortages as “more structural than cyclical”
RBA makes ninth straight rise and forecasts more to come
Governor warns Australia will be slow to achieve its inflation target
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
Israel raises rates to highest level since 2008
Governor warns new government that markets expect fiscal responsibility
Palestine weathers ‘complex crises’ but faces further slowdown
Unemployment remains high and the government’s budget under severe stress
Powell signals FOMC may slow pace of hikes
Fed hopes to remove labour market pressure by cutting number of job openings, Powell says
Book notes: Yellen, by Jon Hilsenrath
This book offers new insights into the tough decisions and tremendous efforts Yellen has made as a pre-eminent economic policy-maker
Norges Bank does not expect wage-price spiral, governor says
Wage moderation allows central bank to strike balance between inflation and employment
BoE widens asset purchases as ‘dysfunction’ threatens again
Surge in gilt yields comes in final week of BoE’s “temporary” intervention
Inflation: what went wrong, and why?
Charles Goodhart and Manoj Pradhan detail three theories on the causes of high inflation, as well as their implications for policy responses
Fed raises interest rate 75bp for third time
Powell reiterates pledge to “keep at it” until inflation is back to 2%
US CPI inflation falls modestly
New York Fed reports “steep declines” in inflation expectations, but core CPI ticks up
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation
RBA raises interest rate to seven-year high
Governor Philip Lowe acknowledges impact of rate hikes on people’s spending
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Covid hits women in US workforce – Bowman
Fed governor confident about greater employment opportunities for women, despite inflation headwinds
Norges Bank ups rates by 50bp and signals faster tightening
Inflation is “considerably higher” than projected by the central bank, and well above its 2% target
Netherlands not facing wage-price spiral – DNB
Central bank says there is space to increase negotiated wages in the Dutch economy
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
Romania continues tightening cycle with 75bp rise
Eighth consecutive increase comes as headline inflation passes 15%
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn