us economy

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Janet Yellen does not cave in to market pressure

Janet Yellen intends to hold firm against market pressure as her press conference showed yesterday. The 0.25% rise in federal funds was downgraded to a modest move, wholly anticipated by investors, while hinting at a moderate path in rate hikes over the next couple of years.

The Fed is tightening its noose on the U.S. economy

US: The Entrepreneurs Of Tomorrow

BoAML | With an abundance of stories about how things can go wrong for the US economy, we are often asked to lay out a scenario in which the data surprise to the upside. In our view, the burden rests on the labor market. If there is an increase in demand for labor, which is met by a gain in supply, we could settle on a stronger trend in job growth.


It Depends On The Data Says The Fed…

J. L. M.Campuzano (Spanish Banking Association) | Fed deputy chairman Fisher said last Tuesday that any future decision on interest  rates will depend, in the end, on the data. The market is now awaiting the US August jobs figures, due out tomorrow. This will be the key indicator anticipating a September rate hike. They say that more than 150,000 new jobs will be a sufficient trigger for the Fed to take its decision this month. And the necessary condition? That the rest


Intangible assets: expansion without productivity?

Some accounting data from US companies offers an interesting reading: there is no doubt that the behaviour of listed companies has changed with the crisis. But what is even more important is that there was a structural change quite a bit before that. US companies are now increasingly less focused on investment in tangible capital and are quickly moving towards capital which is more intangible and/or financial.


Growth versus distribution

Why should we fuel growth? Is this the only economic goal? Wouldn’t it be fairer to boost distribution? Larry Summers says there are almost always “trade-offs” in economy, but not as far as this is concerned. Growth is the best social policy.