Federal Reserve Chair Powell deems it premature to discuss cutting rates and suggests the possibility of more hikes.

Federal Reserve Board Chairman Jerome Powell, in a speech at Spelman College in Atlanta, dismissed market expectations for aggressive interest rate cuts as premature. Powell emphasized that the Federal Open Market Committee intends to keep policy restrictive until inflation is solidly back to 2%. He also stated that they are prepared to tighten policy further…

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Jeremy Hunt, UK’s leader, declares reductions in taxes

OBR Forecasts Paints Bleak Picture for UK Economy The Office for Budget Responsibility’s latest growth and inflation forecasts, released on Wednesday, present a much bleaker picture than previous projections from March. The revised forecasts show that inflation is expected to rise to 2.8% by the end of 2024, a significant increase from the previous prediction…

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Growing evidence of the global economy fragmenting

European Central Bank President, Christine Lagarde, addressed the European Banking Congress with her concerns about the state of Europe. Lagarde emphasized the growing signs of the global economy fragmenting into competing blocs, and the challenges posed by deglobalization, demographics, and decarbonization. Lagarde highlighted the imminent decline in Europe’s working-age population, set to begin as early…

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