Eurozone economy has slowed sharply, business survey shows
The eurozone economy has slowed sharply, according to a closely watched business survey that indicated that recent growth in the dominant services sector is stalling and price pressures are cooling. The benchmark purchasing managers’ index, a measure of activity in manufacturing and services, fell to a five-month low of 50.3 on Friday’s data, down from […]
Is A New Housing Crisis Brewing in Spain?
Spain is one of the European economies that was hardest hit by the COVID-19 virus crisis. Now, after years of falling real incomes, millions of families are facing skyrocketing mortgage payments as a result of rapidly rising interest rates. Here in Barcelona (as in many other parts of Spain’s Mediterranean coastline), today (June 23) is […]
Business activity slows in Europe
Business activity growth in Europe slowed in June, pointing to a difficult end to the second quarter, according to preliminary data Friday. The euro zone’s flash composite Purchasing Managers’ Index dropped to 50.3 in June from 52.8 in the previous month. This was below the 52.5 expected by analysts. A reading above 50 marks an […]
Was Arthur Burns a bad Fed chair?
David Beckworth recently interviewed Chris Hughes, who wrote a paper entitled: “Rethinking Arthur Burns, the “Worst” Fed Chair in History.” This is from the podcast: There is demand-driven inflation headed into the early parts of Burns’ tenure, for instance in 1971, but then the real extreme periods of very high inflation in the 1970s, […]
