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Some economists at Global Insight and at the UAW, Gault at Global Insight and Blackwell at the UAW do not share Fed governor Fisher's view that labor has the bargaining power to raise wages as prices of food and fuel increase. With unemployment up and more workers pushed into part time work from full time this bargaining power is seriously eroded.

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Laurent Bonadei says of this German team as they fended off repeated French attempts at goal over the first 90 minutes- “Germany deserves their qualification because they defended very well. Usually we manage to create more chances. We were against a team that was very smart. There was no panic from them – we wanted to get them to panic but it didn’t happen.” It was a game of sheer chaos starting with a bizarre hair pull by Katherine Hendrichs of the German team leading to a red card, and two goals for France not given because of offside decisions by umpires, and two penalty kicks for fouls. Not to mention a saved own goal by Anne-Katrin Berger that was something sensational to watch.Berger faced constant French attempts on goal for 90 minutes as France controlled the ball 70% of the time. Somehow the German team with 10 players held its defense together. Berger's soft spoken style stands out- “All the credit should go to the team, not me. Everybody here should talk about the performance of the team.” ...

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Bernanke's views that about the half point interest rate cut in 2002 that brought rate to 1.25% when he had just joined as Fed governor some months before, show that he had concerns about the overheating for the residential construction sector but these concerns were outweighed by the general deflationary tendencies in the economy and the crisis after the corporate scandals at the time and the prevailing gloom about the economy.

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US inflation was up 3% in January 2025. Egg prices were up 15%.

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About 90% of the 3.2% rise in inflation in July comes from shelter or housing costs. A letter from the US Federal Reserve Bank of San Francisco this week shows the shelter costs are going down steeply in coming months down to where they may be a tiny fraction or even negative contribution to inflation. This is good news for the US Federal Reserve in its fight against inflation and may even lead it to a pause in inflation fighting rate increases.

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The Hindustan Times provides this look at the construction of a new 1000 bed hospital in Bandra Kurla complex exhibition area of Mumbai  that will be used for isolation of coronavirus cases. The hospital will be ready in time to tackle an expected further surge in cases in Mumbai by the end of May. The hospital will be equipped to handle another 5000 beds says the Mumbai municipal authority, MMRDA. Several hospitals are being built such as this one to tackle the surge in cases as Mumbai has about 25% of cases in India of coronavirus.

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Kaushik Basu, economist at Cornell University, and Chief Economist at the World Bank, says the U.S. Federal Reserve should consider the current low labor participation rate and low inflation in its rate policy setting decisions in 2015. Basu points out that in the recent past unemployment has gone below the current 5.5% without increasing the risks of inflation. He cites the period from July 1997 to August 2001 when inflation was below 5%, and at some points below 4%, yet inflation in 2002 was close to 2%. The large number of discouraged workers in this economic cycle has placed the unemployment rate below what it really is, says Basu.

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On December 29th 2007 just before the new year 2008 the year of the Beijing Olympics a predicition that sooner or later, sometime soon maybe after the Olympics the stock market in China which is running at some 65-75 time earnings in Shanghai and Shenzen is going to blow up. Its a facade of an orderly equity market which it isn't. The state control many of the stocks and how the stock market operates, good information on companies is scarce, some of the earnings and the investments of companies are in the stock market itself, and not many shares actually change hands as government held companies or other companies have large holdings. Without good accounting who knows if the earnings are not inflated. There are very few alternative investments as savings accounts yield less than inflation and Chinese laws do not permit investing abroad so all this money is flooding the stock markets and it keeps going up so there isn't the situation where stocks go up and down as in a normal market.

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This report by Nate Cohn of the NYT shows how the U.S. election map is changing in 2016 with Hillary Clinton strong among college educated voters and weaker with working class voters than president Obama in 2008. She more than makes up for this loss of working class voters in many red Republican states in the southern U.S.- as Cohn shows there are about 1.5-2.5 college educated voters in the southern and mountain states compared to working class voters. The pattern is reversed in midwestern states where there are only about 0.5 college educated voters for every working class voters. This is why Trump is doing better in Ohio, Iowa and Clinton doing better in Georgia, North Carolina, South Carolina, Georgia, Utah, Colorado, traditionally Republican states. Overall there is less focus on cultural wars and abortion issues in this election, with focus shifting to beneficiaries of globalization, and people hurt by trade and globalization in older factory towns. Even in the suburbs of Philadelphia, Cloumbus, Milwaukee, and in western Michigan Clinton does very well because of college educated voters, including white college educated voters. ...

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October 1 is a national holiday in China  and the 75th anniversary of the founding of People's Republic of China in 1949. Youth and students in China travel across the country to visit historic sites in the Chinese Revolution in what is called Red Tourism. The perceptions of young people and students on Mao in 2024 is shown in this video in FR24. This is how China wants to remember its past- a century of conflict with European powers and the British Empire after European Powers tried to breakup China following the Opium Wars in the 1850's. This was followed by the Japanese Empire staking its claims over parts of northern China in 1900-1945, and the period in which the US under General Joe Stilwell struggled with the dilemma of China knowing the corruption and failure of leaders to modernize China.  Then followed the decades when hunger and inadequate healthcare was banished from China, yet the industrial revolution that happened in western Europe and the US was elusive. Efforts in the 1960's to do this failed. Only when China showed the spirit of humility to work with Europeans and Americans and the Japanese and opened up its thinking to adopt markets in its own context of state run operations was the industrial revolution accomplished and modernization made to happen in the 1990's onwards. Three decades of rapid industrialization transformed an ancient nation in the heart of Asia. ...

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Daniel Tarullo, the new Fed Governor is the architect of the Fed's new pay guidelines. Fed officials at all the Fed banks around the country met the leaders of the large banks and thier compensation committee leaders. Tarullo has set up the principle based framework to guide pay which covers compensation practices that discourage risktaking that endangers the firm while enriching the employee, including risk management people in setting pay, better corporate governance and other principles.

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The U.S. Federal Reserve is planning to hold interest rates steady for now at 1.75 -2%, but plan to increase rates by the end of the year. Inflation remains close to the target level of 2%.

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Because of the slowdown in emerging market countries the effects of QE III will be smaller compared to QE II. QE III will not have the same negative effects of expanding a bubble coming from QE II say experts.

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The Labor Dept. reported the U.S. added a seasonally adjusted 96,000 jobs in August 2012, down from 141,000 jobs in July 2012.

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Signs of measured price increases in the Fed's January 2011 Beige book survey.

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The Beige Book report of the U.S. Federal Reserve for April 23-May 25, 2012, showing moderate growth in 10 of 12 bank districts.

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Paul Davies says the leadership at Deutsche Bank is short sighted and cannot afford more slip ups or missteps following the U.S. New York Fed's examination. The examination revealed serious shortcomings in regulatory reporting and failure to correct them. As U.S. operations represent one fourth of its balance sheet this raises issues for the bank's overall financial position. Deutsche Bank has committed additional $1 billion in systems investment and staff to tackle this. Added problems he mentions are that Deutsche Bank lobbied against the Fed's proposal for foreign bank capital requirements even though it remains undercapitalized. The bank's leverage ratio at 3.4% is low and Davies says changes at the top are needed if further missteps occur.

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The U.S. Federal Reserve announces an end to its bond purchase programs in November 2014.