Central bankers are expected to discuss the racial income and wealth gaps during the virtual Jackson Hole retreat. But an economist argues that the Fed is not suited for addressing these issues.
Pump-primer in chief, Fed Chairman Jerome Powell.
EPA
Central banking was given to technocrats whose job is to make the difficult decisions. But there are parameters. And within these, central bankers must act independently, without fear or favour.
In the years after the second world war, credit was in short supply.
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Much of the jump in inflation from 1.1% to 3.8% is transient, and the lockdown in NSW will suppress what’s left. But even if you still fear inflation, there are things you can do.
How scientists are planning to listen to the sound of the big bang with a gravitational wave detector that would fit in a kitchen.
Fuel storage tanks at South Africa’s Durban harbour. Blocking the transport of fuel will stop the transport of food.
Photo by Hoberman Collection/Universal Images Group via Getty Images
The RBA shouldn’t be spooked into raising interest rates, but the prospect of inflation in the next few years is an important consideration for central banks around the world.
When policymakers reduce electricity scarcity to a few factors like theft and vandalism, to be solved with technology and stiff penalties, they miss other factors that contribute to electricity theft.
A big increase in use car prices drove the inflation rate higher in April.
AP Photo/David Zalubowski
The average price of US goods and services surged in April, leading some to worry the economy is beginning to experience dangerously high levels of inflation. A scholar explains why that’s unlikely.