by Jonathan Cook | Jul 17, 2025
Earlier this week, President Trump claimed the process to replace Fed chair Jerome Powell had begun in earnest. Yesterday confirmed it. It emerged that Trump had asked lawmakers if he should sack Powell, causing a steep fall for the US dollar. Already facing huge...
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by Jonathan Cook | Jul 17, 2025
The euro weakened against its main rivals on Wednesday as the clock inches slowly towards 1 August. The eurozone is readying retaliatory tariffs in the event that no agreement is reached, an eventuality that is putting stress on the euro ahead of the deadline....
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by Jonathan Cook | Jul 17, 2025
Headline inflation reaching an 18-month high in June was undoubtedly a setback for the UK economy. However, with growth stalling and the labour market buckling, there may be enough in the numbers to convince the bank it still needs to cut at its August meeting....
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by Jonathan Cook | Jul 17, 2025
The UK’s unemployment rate increased from 4.6% to 4.7% in the three months to May, the highest level since July 2021. Average earnings (both including and excluding bonus payments) increased at a rolling three-month average of 5% – slightly below expectations. This...
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by Julian Benson | Jul 16, 2025
What a difference a day makes. On Monday, Bank of England Governor Andrew Bailey spoke to The Times about interest rates, saying he “believe[s] the path is downward”. The only things that could get in its way would be inflation and growing unemployment. Well, this...
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