ECONOMICS

Authored by Daniel Lacalle,

The ECB decided to cut rates by 25 basis points the same day it elevated its own inflation estimates for 2024 and 2025. You simply cannot make this up. If you wanted unmistakable proof of the lack of independence of central banks, this is it. The ECB only has one mandate, price stability, and has violated it for nearly four years.

Why?

The purpose is to fund the biggest expansion of the government’s size since the euro’s inception and uphold the (more…)

Coming just hours after the May CPI print, tomorrow's – and the month's – main event is the FOMC decision due at 2pm ET, when the Fed is widely expected to leave rates on hold at 5.25-5.50%, and the statement will likely also largely be reiterated after slight tweaks in the May statement. Attention will fall on the Summary of Economic projections, and more specifically, the Dot Plot, where the number of projected rate cuts in 2024 will be trimmed from 3 to 2. After a string of hot (more…)

Authored by Mark Gilman via The Epoch Times (emphasis ours),

Many of this summer’s Generation Z college graduates are immediately getting a reality check with large school debt and few job guarantees after college graduation. This dilemma is why many are now suggesting that encouraging high school graduates to learn skilled trades not only is a suitable alternative but also could save several industries that are desperate to find new workers.

An auto mechanic stands at a (more…)