Consumer prices rose 3.8% in April from a year earlier, a clear impact of higher gas prices since the start of the war with Iran
Prices were up 0.6% from the previous month. Energy accounted for over 40% of that increase. Source link
Economics
Australia’s Budget Sparks Tentative Hope That Economic Reform Has Arrived
Australia’s treasurer touted the latest budget as reform-focused and the most ambitious in a generation. Economists hope that he is
German Investor Sentiment Climbs on Hopes of End to Iran War
The result—a third negative reading in a row—was better than economists polled by The Wall Street Journal expected. Source link
China Central Bank Warns on Imported Inflation Risks
The People’s Bank of China said in its first-quarter monetary policy report that imported inflation risks require “close monitoring.” Source
The Senate took another procedural step toward confirming Kevin Warsh as the next Federal Reserve chair, advancing his nomination to a final vote to join the Fed’s board
The Senate took another procedural step toward confirming Warsh as the next Federal Reserve chair. Source link
Forget tech and Hollywood. California is powered by healthcare jobs.
A state known for billionaires and high-tech jobs depends on lower-paying health work to boost its labor market. Source link
U.S. Employment Trends Index Ticked Up in April
The Conference Board’s Employment Trends Index rose to 105.77 in April, from a downwardly revised reading of 105.52 in March.
India Asks Locals to Pause Gold Buying in Bid to Shore Up FX Defenses
Prime Minister Modi asked citizens to avoid buying gold jewelry for functions, coming as the country’s appetite for the precious
China Factory-Gate Prices Rise for Second Straight Month
China’s factory-gate inflation gathered momentum in April, fueled by geopolitical tensions in the Middle East that kept energy costs elevated
China is increasingly dominating high-tech industries, while the low-value manufacturing sectors that powered the country’s rise are becoming less important economic drivers
The U.S. lost much of its furniture industry to China years ago. Now, American tariffs and overseas competition are punishing