4 Graphs on US GDP growth
US GDP growth for the third quarter was revised on the upside. Economic activity was up by 5% (annual rate). Compared to Q3 2013, GDP is up by 2.7% and…
Philippe Waechter's blog
The Fed’s message
The message from the U.S. central bank can be summarised as follows “We do not take formal commitment but don’t be surprised if rates are up next June”
My Daily Column – Confusion in Emerging Countries
There is confusion currently on markets and mainly on emerging markets. This implies sometime strong and brutal adjustments. Last night, such an adjustment has been seen in Russia when the…
ECB Monetary Policy after the TLTRO
The second TLTRO of the ECB, on December the 11th, has brought EUR 129.8bn of liquidity on the market. This will not be sufficient and the European monetary authorities will…
My Daily Column – Income Distribution and Growth
Income distribution is currently a major topic as the crisis has persistent effects. We remember during fall of 2011 the “Occupy Wall Street” movement. More recently Thomas Piketty‘s book gave…
What can we learn from the week of the 1st of December?
The first point to mention is the long lasting divergence on economic outlook between the USA and the Euro Area. In the USA the ISM global index is a weighted…
4 graphs on the US labor market momentum
The labor market improvement was spectacular in November with +321 000 jobs that have been added. January 2012 was the last month with higher jobs creation (360 000). When we…