He accused the United States of “state terror”. He vowed North Korea would never surrender its nuclear weapons. And yet Kim Jong-un’s address to the Supreme People’s Assembly contained one notable omission: any direct attack on Donald Trump. That absence was an attempt to leave the door to diplomacy ajar, analysts said, even as North Korea’s supreme leader slammed it shut on the notion that his nu...
He accused the United States of “state terror”. He vowed North Korea would never surrender its nuclear weapons. And yet Kim Jong-un’s address to the Supreme People’s Assembly contained one notable omission: any direct attack on Donald Trump. That absence was an attempt to leave the door to diplomacy ajar, analysts said, even as North Korea’s supreme leader slammed it shut on the notion that his nuclear-armed nation could be pressured, coerced or subdued like other US adversaries. “The United...
Shutthiphong Chandaeng/iStock via Getty Images By Bryan Cutsinger Inflation is well above two percent, but rate paths haven’t moved. The disconnect suggests a shift in how much inflation the Fed is willing to tolerate. The Federal Open Market Committee (FOMC) held interest rates steady on Wednesday, keeping its target range at 3.5 to 3.75 percent. Chair Jerome Powell offered a sober but familiar a...
Shutthiphong Chandaeng/iStock via Getty Images By Bryan Cutsinger Inflation is well above two percent, but rate paths haven’t moved. The disconnect suggests a shift in how much inflation the Fed is willing to tolerate. The Federal Open Market Committee (FOMC) held interest rates steady on Wednesday, keeping its target range at 3.5 to 3.75 percent. Chair Jerome Powell offered a sober but familiar assessment: the economy is expanding, the labor market is stable, and inflation remains “somewhat elevated.” A new wrinkle - supply disruptions in the Middle East - has joined tariffs as the latest explanation for why prices aren’t behaving. But the real story of this meeting isn’t what the FOMC did. It’s what its members’ projections reveal about their willingness to tolerate above-target inflation indefinitely. Start with the numbers. The updated Summary of Economic Projections puts the median FOMC member’s PCE inflation projection at 2.7 percent for 2026. Back in December, the median member projected prices would rise just 2.4 percent this year. The median member’s projection for core PCE inflation in 2026 also rose, from 2.5 to 2.7 percent. These are not minor revisions. In the space of three months, FOMC members have concluded that inflation will run meaningfully hotter this year than they had previously thought. And yet, the path for rate cuts did not change at all. The median projection for the federal funds rate remains at 3.4 percent at year-end and 3.1 percent at the end of 2027. The FOMC saw more inflation coming and decided it required no change in policy. This is a remarkable position for a central bank that has spent the last four years insisting it would bring inflation back down to 2 percent. The latest revision might feel familiar. Exactly one year ago, at its March 2025 meeting, the median FOMC member revised up their 2025 projection for PCE inflation from 2.5 to 2.7 percent while continuing to project 50 basis points worth of rate cuts before year’s end. T...
Video shows seven dogs including a golden retriever, Labrador, German shepherd and Pekinese, being led by a corgi A group of seven dogs that went missing in China have gone viral after a video emerged of them walking more than 17km back home to their village, reuniting with owners who had been searching for them for days. The video, first posted online on 15 March, shows the dogs – including a gol...
Video shows seven dogs including a golden retriever, Labrador, German shepherd and Pekinese, being led by a corgi A group of seven dogs that went missing in China have gone viral after a video emerged of them walking more than 17km back home to their village, reuniting with owners who had been searching for them for days. The video, first posted online on 15 March, shows the dogs – including a golden retriever, labrador, German shepherd and Pekinese – walking along the highway in Changchun, the capital of China’s north-east Jilin province, where temperatures are dropping below 0C overnight. Continue reading...
“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, David Ingles and Yvonne Man give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)
“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, David Ingles and Yvonne Man give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)