Trade wars won’t sharply curtail economic activity, unless they cause businesses to lose confidence, said Spencer Dale, chief economist for BP, the energy giant. The bigger problem, he said, is that trade wars could “eat away at trend growth” by reducing G.D.P. by a fraction of a percent a year. That might not seem meaningful…
I’m not saying America’s cities are turning into dystopian technocapitalist hellscapes in which corporations operate every essential service and pull every civic string. But let’s take a tour of recent news from the metropolises. ■ In Seattle, the City Council decided last week to undo its plan to impose a $275-per-employee tax on local businesses,…
The number of Americans seeking Social Security disability benefits is plunging, a startling reversal of a decades-old trend that threatened the program’s solvency. It is the latest evidence of a stronger economy pulling people back into the job market or preventing workers from being sidelined in the first place. The drop is so significant that…
The Week Ahead The Senate will also vote on an amendment that would block President Trump’s ZTE deal, and the Fox board will weigh Comcast’s $65 billion offer. Outside the offices of ZTE in Beijing. The Senate will vote on a proposal that would restore penalties brought against the company.CreditGilles Sabrié for The New York…
Steven Saenz, who is Hispanic, graduated from college in the teeth of the recession, and went to architecture school in part to avoid entering the weak labor market. Even so, it took him nine months after completing his degree to find a job, and two more years to feel stable. Now, however, Mr. Saenz has…
The downgrades were among many reasons the government has tightened some curbs on borrowing since the end of the autumn. Beijing has particularly clamped down on lending by online finance companies and other private sector businesses that bypass the state-controlled banking system. While commercial banks have continued to lend the money they hold from deposits,…
RIGA, Latvia — A trade war with the United States looms. Populists have taken power in Italy, posing a new threat to the euro. Growth is sluggish, and there is even talk of another banking crisis. It would not seem the ideal time to put the brakes on Europe’s economy. But that is what the…
Only recently has the Federal Reserve tried to communicate directly and transparently to the public. Its new chairman is pushing ahead on that frontier. Image Jerome H. Powell, the Federal Reserve chairman, fielded reporters’ questions on Wednesday after the Fed’s policymakers ended their meeting.CreditMichael Reynolds/Epa, via Shutterstock Federal Reserve chiefs were long known for saying…
Jerome Powell’s policy decision was in line with his predecessors, but he made a series of changes that give him more flexibility in the years ahead. The Federal Reserve chairman Jerome Powell in March. On Wednesday, he said he would double the number of Fed news conferences. CreditCarolyn Kaster/Associated Press Jerome Powell has been chairman…
PARIS — Spring in France is strike season — not that strikes don’t happen at other times of the year, but who wants to strike in wet, cold weather or in the midst of a hot Parisian summer when everyone (strikers included) wants to be on holiday? René Bodiou, a 75-year-old with a full head…