State Governments Continue to Cut Income Tax Rates
Although the prospect for taxation at the federal level is dismal, given the huge annual budget deficits of over $1 trillion as far as we can predict, the story at the state level is much different. Here’s an excerpt from David R. Henderson, “Cuts in Income Tax Rates Continue,” TaxBytes, Institute for Policy Innovation, […]
Yellen says ‘ample room’ for greater US-China trade despite geopolitical tensions
Janet Yellen says there is “ample room” for US and Chinese companies to boost trade and investment, despite security tensions, during a trip to Beijing aimed at easing friction between the two powers. Speaking at the Diaoyutai State Guest House in Beijing at the opening of her meeting with Chinese economic tsar He Lifeng on […]
The United States’ Financial Quandary: ZIRP’s Only Exit Path Is a Crash
Yves here. The key message of Michael Hudson’s piece is how the Fed has painted itself in a corner with its super low interest rate policy. In fact, the Bernanke Fed found out when it announced what was intended to be an attenuated exit. Mr. Market responded with the “taper tantrum” and the central bank […]
Market Talk – July 7, 2023
ASIA: Singapore’s central bank, the Monetary Authority of Singapore (MAS), has provided a somber assessment of the country’s economy. The MAS predicts ongoing challenges, including sluggish growth, inflation, and the possibility of a technical recession. Although the MAS has lowered its inflation forecast for 2023, it acknowledges that the battle against rising consumer […]
Fed’s Goolsbee sees ‘golden path’ to lower inflation without a recession
Chicago Federal Reserve President Austan Goolsbee said Friday he’s confident inflation can be tamed without a recession, even with additional interest rate increases likely. Speaking to CNBC following the release of the June nonfarm payrolls report, he said the ongoing job growth is part of the Fed’s “golden path” toward restoring price stability without taking […]
Payrolls rose by 209,000, less than expected
Employment growth eased in June, taking some steam out of what had been a stunningly strong labor market. Nonfarm payrolls increased 209,000 in June and the unemployment rate was 3.6%, the Labor Department reported Friday. That compared with the Dow Jones consensus estimates for growth of 240,000 and a jobless level of 3.6%. The total, […]
