Despite volatile markets and a deceptively tepid recovery, the Federal Reserve looks unequivocally committed to raising interest rates – but try getting any of the candidates for president to admit such action could undermine the recovery
There was something for everyone in August’s US jobs report. The headline figure for jobs growth was less than expected, but the last two months were revised up. Wages grew, but the number of people out of the workforce remains worryingly high. What’s a central banker to do? Sadly the answer is exactly what they want to do, and no one – not even Donald Trump – seems to think that’s an issue.
At their annual retreat in Jackson Hole last month, several top officials of the Federal Reserve board reiterated their desire to raise interest rates, even if the recent market turmoil may have put these plans on hold for the moment.
Source: The Guardian Circular Economy RSS