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OTRAS NOTICIAS

Fears about stagflation are mounting in the US. It’s every central banker’s worst nightmare

For the past few years, the US economy has been growing at a pace that seemed too good to be true.

So, at first glance, Thursday’s gross domestic product report showing the US economy grew at an annualized rate of 1.6% in the first quarter of this year versus the 3.4% rate in the fourth quarter of last year seems to be just the medicine the Federal Reserve doctors ordered. But there’s just one problem: inflation.

The latest Consumer Price Index data shows inflation is rising, moving further away from the Fed’s 2% target. And economists are forecasting new inflation data due Friday will paint a similar picture. The GDP report gave another preview of what could come.

 

Post by "CNN Business"

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When will Japan intervene to support the yen?

As the yen continues to fall against other major currencies, the focus is on when the Japanese government and the Bank of Japan might intervene in the currency market to support the yen.

The yen hit a 34-year low past ¥158.40 per dollar in U.S. trading on Friday, weakening from around ¥155.50 before the Bank of Japan announced a decision to keep its monetary policy unchanged shortly after noon Friday in Japan.

The selling of the yen against the dollar accelerated after BOJ Gov. Kazuo Ueda told a news conference on the day that the yen's current weakness has not significantly affected Japan's underlying inflation.

In addition, hopes for an interest rate cut by the U.S. Federal Reserve receded after data showed persistent inflation in the United States.

 

Post by "Japan Times"

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Top G20 Ministers Back 2% Wealth Tax for Global Billionaires

Ministers from four major economies on Thursday called for a 2% wealth tax targeting the world's billionaires—who currently only pay up to 0.5% of their wealth in personal income tax—to "invest in public goods such as health, education, the environment, and infrastructure."

Fernando Haddad, Brazil's finance minister; Svenja Schulze, Germany's minister for economic cooperation and development; Enoch Godongwana, South Africa's finance minister; Carlos Cuerpo, Spain's minister of economy, trade, and business; and María Jesús Montero, Spain's first vice president and finance minister, made their case in an opinion piece for The Guardian.

"The argument behind such tax is straightforward: We need to enhance the ability of our tax systems to fulfill the principle of fairness, such that contributions are in line with the capacity to pay," they explained. "Persisting loopholes in the system imply that high-net-worth individuals can minimize their income taxes."

Post by "Common Dreams"

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