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Markets are losing faith in the Federal Reserve s credibility Bond vigilantes may stop believing the US central bank s assurances that inflation is under control and take matters into their own hands 13 May 2021 • 5:05pm The US is engaged in an astonishing monetary experiment. The Federal Reserve is still conducting quantitative easing even as the rate of headline inflation hit 4.2pc. Core inflation has risen to a 25-year high of 3pc, recording the biggest jump in a single month since 1981. Factory gate inflation has been running at a 7.1pc annual growth rate over the last six months even before full reopening. The Biden administration is running a budget deficit of 13pc of GDP this year even though the output gap closed in April and large parts of the economy are overheating. Small firms cannot find workers. Unfilled job openings have reached a record high. ....
THE NEW Year is the time when many people make resolutions about what they hope to do differently in the year ahead and often their New Yearâs resolutions are already broken by now, writes chartered accountant Martin Tregonning. Some people donât make any New Yearâs resolutions as they know that they will have to live with the disappointment of not keeping them. 8 of 14Adverts Looking back over the last year, there is an argument that we shouldnât bother making any New Yearâs resolutions, because who knows how things will turn out anyway. I know one person whose only New Yearâs resolution after last year is not to buy a 2021 wall planner. ....