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The Apollo economist on the Federal Reserve’s self-defeating pivot
The Fed simply cannot even
S&P 500 and Nasdaq Composite reach record highs after central bank also raises GDP forecasts
And more on weakness at the low end of the economy
Strong US economic growth will not halt central bank’s plan to reduce borrowing costs this year
From lower commissions to falling mortgage rates, purchasing property may become easier
Preliminary agreement includes $11bn loan as company expands capacity in Arizona and other states
Republicans say the issue shows how the president’s policies have triggered what they call a cost of living crisis
Plant being built in South Carolina by parent Volkswagen among options available to German brand
Pace of US deglobalisation is accelerating, with sometimes dubious motives
The concern stems from price rises in services remaining too high in some places
Economists forecast inflation easing from multi-decade highs without sharp rise in unemployment
Georgia is a ‘tale of two economies’
Demand, on the other hand, is not helping US housing markets
President Biden risks undermining sound economic policy and support for a key ally if he blocks the Nippon Steel deal
US is alienating Japan and EU by mishandling its obsession with swing voters in steel states
Immigrants get the job done
And more on the low-end consumer
Subsidies, tariffs and good intentions don’t add up to what is needed
Hardline rhetoric reduces some of America’s most important allies and trading partners to a nuisance
The headline acts will be the US Federal Reserve, the Bank of Japan and the Bank of England
FT-Chicago Booth poll suggests bank will make two or fewer cuts this year, with the first between July and September
Market Questions is the FT’s guide to the week ahead
Retail sales reach a plateau while company executives see disposable income squeezed
Yields have fallen in recent months despite warnings over rising deficit
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