He is also concerned about Economic Uncertainty triggered from the conflict between israel and hamas as the death toll continues to rise. The bbc s economics editor Faisal Islam Sat down with him and asked if the Global Economy was heading in the right direction. Well, things are going in the right direction. What we are seeing is, despite these large shocks that you describe, the World Economy is still standing. No global recession, you know, no massive slowdown that would put us into huge unemployment rates. We havent seen that. We have seen a surge in inflation, but inflation is sort of coming down now, both Headline Inflation and core inflation, so thats the good news, things are improving, the Global Economy has been resilient. At the same time, the Growth Numbers we have, around 3 this year, 2. 9 for next year, this is way below historical average. So the Global Economy is limping along, its not sprinting but its been resilient. Right. Do you from this point see there are areas w
About the Economic Uncertainty that will come from the conflict between israel and hamas as the death toll continues to rise. The bbc s economics editor faisal islam sat down Pierre Olivier gourinchas and asked if the Global Economy is heading in the right direction. Well, things are going in the right direction. What were seeing is despite these large shocks that you describe, the World Economy is still standing. No global recession, no massive slowdown that would put us into, you know, huge unemployment rates. We havent seen that. Weve seen a surge in inflation. But inflation is sort of coming down now, both Headline Inflation and core inflation. So thats the good news. Things are improving. The Global Economy has been resilient. At the same time, the Growth Numbers we have around 3 for this year, 2. 9 for next year this is way below historical average. So the Global Economy is limping along. Its not sprinting, but its been resilient. Right. Do you from this point see. There are area
And heres the story. New jobs, stunning. 336,000. Thats way beyond any of these expectations. This suggests the labor market is still strong. The fed is probably not going to like that. The Unemployment Rate, no change, 3. 8 . Now, heres the market reaction, dramatic. The dow industrials down about 200 points. This is the premarket, of course. And the nasdaqs down 176. S p also sharply lower. Plenty of red ink. Interest rates immediately jumped on the news. The 10year treasury is now up to 4. 75. Its the all over the place, actually. Just a few moments ago it was almost 4. 80. And the 2year, 5. 13 last time i checked and now its a mere 5. 05. As i said, bond yields all over the place as they absorb this extraordinary news on the labor market. The price of oil, that was at 82 a barrel, still is. Its come way down this week. You better start looking at gas. Its really starting to fall. Regular now averages 3. 74, that thats down 2 cents overnight. California coming in at 5. 87 for regula
Ranking republican and has served in Congress Since 2008. Our washington correspondent Gary Odonoghue has more on the latest developments. The unprecedented removal of the speaker has Left Congress in chaos. They are taking a week off while they decide what to do next. One rebel was unrepentant. To do next. One rebelwas unrepentant. To do next. One rebelwas unreentant. ,. , unrepentant. This was the right call the american unrepentant. This was the right call the American People call the American People deserve a lead and speaker who will the tell the truth and the International Community need to know the next speaker will be honest and wont go back on the word. ~ ,. ,. , honest and wont go back on the word. , word. With republics and is focusina word. With republics and is focusing on word. With republics and is focusing on themselves word. With republics and is| focusing on themselves the question of funding for ukraine which Congress Controls remains undecided. Which Congress Contro