is unlikely to distract the world’s most powerful central banker from pursuing his core mandate of fighting inflation.
But Powell, who is expected to increase interest rates up to four times this year, has fended of tough talk from blunt leaders before, suffering through then-president Donald Trump’s repeated criticism for havingBack then the threat of hurting the average American by increasing their mortgages was the empathy test; now it’s developing countries.
The G20 Debt Service Suspension Initiative expired last month, and the IMF’s Catastrophe Containment and Relief Trust will likely end early next year. “China has a lot of loans to developing countries under Belt and Road and so what I think Xi is saying is basically, if you, the United States raise rates, a lot of those rates pass through to borrowing costs on that Belt and Road debt which means it gets harder for those countries to pay China back.”
“Xi called for better macro-economic coordination with the world, but there’s no way, and he knows there’s no way, that the US is actually going to directly collaborate with China on macro-economic policy because China doesn’t collaborate with the US, they do their own thing.”
The world should take note given he commands the second largest economy on the planet and will soon be the largest in human history for decades.
Maybe we can leave rates at zero and then the share market will keep going up and the price of a one bedroom unit in parramatta will reach 5mill. Enough already.
Excellent news - stick 'em up and watch him suffer, especially Belt & Road
What kind of jawboning is this? Who is he really talking to, and do they care?
Watch what they do, not what they say...
Could devalue the yuan ;-)
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