“Inflation is still too high. Further progress in bringing it down is not assured, and the path forward is uncertain,” Fed Chair Powell said.

Is the Fed heading towards another monetary policy mistake? "Perhaps, the Fed has no idea what is going on and their past policy mistakes can be taken as proof. If they indeed have no clue, how can anyone trust them?" 👇https://t.co/5SUCjKpcmZ — Global Markets Investor (@GlobalMktObserv) May 4, 2024

I had been assured that Bidenomics was working.

REALITY ONLY BITES AFTER YOU’VE BEEN DENYING IT: Economic reality bites as Newsom faces a big California budget problem. During his much ballyhooed, nationally televised debate with Florida Gov. Ron DeSantis last week, California Gov. Gavin Newsom boasted that the state’s economy is “booming” and leads the nation. “California has no peers,” Newsom declared. “California dominates.” …

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At the heart of China’s growth miracle since 1990 has been a massive housing bubble which is just beginning its bust. Major crisis assured.

Even China’s 1.4 billion population can’t fill all its vacant homes, former official says Unsold, completed: ~7.2 million homes, according to Reuters calculations, based on the average home size of 90 square metres. That does not count: the numerous residential projects that have already been sold but not yet completed due to cash-flow problems or …

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