Last week, the world’s largest retailer announced that it will start to unwind its Center for Racial Equity, as other employers—including Boeing, Ford, and JPMorgan Chase—have also begun backing away from their DEI policies.
Last week’s core PCE numbers support comments by Fed officials that there’s no rush to cut interest rates so long as the labor market remains healthy and the economy continues to power ahead.
In the Fed’s semi-annual report on U.S. financial stability, the second- and third-ranked concerns were escalating tensions in the Middle East and policy uncertainty.
Soon after BRICS leaders said they will build a cross-border payments system that bypasses Western platforms, a senior U.S. Treasury official warns that such a system would pose risks to international financial stability if it didn’t adhere to standards aimed at minimizing illicit activity.
Facing pressure from economists to restrain government spending, Canada’s Finance Minister promised to hold the FY2023-24 deficit below C$40.1 billion, but the country’s parliamentary budget officer now expects to run a C$46.8 billion deficit this fiscal year.
