Rebecca Ungarino, provided by Published 12:01 pm PST, Thursday, January 17, 2019 The Bank of Jamaica Jamaica's central bank has released a series of videos on Twitter addressing inflation and monetary policy. The Caribbean nation has dealt with extremely high levels of debt in recent years. The campaign's videos — which are reportedly a product of Tony Morrison, the bank's public relations director — are educational, whimsical, and sound delightful. "Low and stable inflation is to the economy what the bass line is to reggae music." "Inflation's not the enemy if we control it. If it's too high, the people will cry." Those are some of the lyrics from videos the Bank of Jamaica has released on Twitter in recent weeks to promote awareness around inflation, monetary policy, and the economy. The videos detail how inflation impacts every part of the economy, and why Jamaicans should be aware of the efforts the bank is making to keep inflation in check. The … [Read more...] about Jamaica’s central bank is using reggae-inspired music videos to teach people about monetary policy
Monetary policy economics
President Franklin Delano Roosevelt famously declared at his first inaugural address that “the only thing we have to fear is fear itself.” The idea that economic pessimism could be a self-fulfilling prophecy is once again gaining currency because of the contrast between strong data about the economy and widespread fears that a recession could be looming.The most recent survey of the American public by CNBC provides an excellent illustration. Average holiday spending plans rose above $1,100, a jump from around $900 a year ago and the first time the holiday survey has seen an average number above $1,000. That’s an indication that many Americans are feeling flush right now, which likely reflects very low unemployment, low levels of layoffs, and real wage growth. But American views of the broader economy do not reflect that optimism. The share of Americans who say they are optimistic about the economy now and in the future fell 9 points to 39 percent, the … [Read more...] about Fear Itself: Economic Optimism Plummets Even While Holiday Shopping Plans Soar
Akin Oyedele, provided by Published 4:11 pm PDT, Sunday, October 14, 2018 Jacquelyn Martin/AP President Donald Trump is blaming the Federal Reserve for the stock market's sell-off. While it's unusual for the US president to publicly bash the Fed, many investors agree that fears of higher interest rates are partly responsible for the volatility. By pitting himself against the Fed, Trump is raising the stakes of a monetary-policy error. President Donald Trump is not known to mince words. And this week, he offered his sharpest rebuke yet of the Federal Reserve. "I think the Fed has gone crazy," Trump said Wednesday about the Federal Reserve's interest-rate increases. On Thursday, he told Fox News the central bank "is going loco." He also said he was not going to fire Fed Chairman Jerome Powell. Trump said all of this after the longest streak of stock-market declines since the days before the November 2016 election. He was expressing his angst at the … [Read more...] about Trump’s unusual Fed bashing raises the stakes of a policy blunder that damages the economy
PM Nguyen Xuan Phuc meets Managing Director of the IMF Christine Lagarde in Bali, Indonesia, on October 12, 2018 - Photo: VGP/Quang Hieu The PM made that statement during his meeting with Managing Director of the IMF Christine Lagarde in Bali, Indonesia, on October 12 on the sidelines of the annual meetings of the IMF-World Bank Group. During the meeting, the Vietnamese leader highlighted Viet Nam’s socio-economic achievements in 2018, especially maintain sustainable macro-economy, closely controlling inflation, promoting the economic growth rate to 7%, and high trade surplus over the recent nine months of 2018. The Vietnamese Government is enhancing economic restructuring, growth model reform, fiscal consolidation, public debt control, prudent and flexible financial – monetary policies, business climate improvement, development of the private economic sector, innovation encouragement, and improvement of the capacity of joining in the Fourth Industrial Revolution, … [Read more...] about PM hails IMF’s support for VN’s socio-economic development
Will Martin, provided by Published 9:39 am PDT, Thursday, October 11, 2018 AP; AP President Donald Trump has taken aim the Federal Reserve's current path of interest-rate hikes. Trump called the Fed "crazy" and "loco" in interviews. The criticism revived concerns about the US Federal Reserve's political independence. Presidents have pressured the Fed before, most notably Richard Nixon. Nixon convinced then-Fed Chairman Arthur Burns to keep interest rates low, leading to nearly a decade of economic problems. President Donald Trump has recently launched a series of broadsides against the Federal Reserve, bashing its interest rate hikes. Speaking to reporters before a rally in Erie, Pennsylvania on Wednesday, the president attempted to pin the recent stock market sell-off on the central bank and its chairman, Jerome Powell. "I think the Fed is making a mistake," Trump told reporters. "They are so tight. I think the Fed has gone crazy." In a subsequent interview on … [Read more...] about Trump keeps bashing the Fed, calling the central bank ‘loco’ and ‘crazy.’ An ugly economic lesson from the Nixon administration shows why his criticism is so worrying.