The Dismal Science

A mixed bag this week: the government's jobs white paper, another inflation spike, wilting retail sales and a glut in red wine.

Fed Chair Jerome Powell has promised to proceed carefully with any future changes to interest rats in the US. Does this mean we're now in a "higher for longer" world? Plus, oil market dynamics and NZ emerges from recession or does it?

Colourful property developer Tim Gurner caused an outcry calling for the unemployment rate to rise, saying "we need to see pain in the economy". How different is his message from the RBA's official line? Plus, the latest confidence numbers, a farewell speech from Lowe, a getting to know you speech from the incoming productivity commissioner, and the obesity wonder drug Ozempic and Danish GDP.

Governor Lowe's last RBA meeting and rates are on hold. Is the next move of the new era down? Plus, Australia enters a 'per capita recession' and the global solar boom.

Central bankers turned philosophical at last week's annual Jackson Hole conference as they contemplated the mistakes they have made over the last two years. Plus, the incoming Reserve Bank governor talks climate change, inflation continues to come down and the stifling effect of high interest rates on innovation.

Australia's growth will slow and its population age over the next forty years, putting pressure on the budget and more generally our standard of living, according to the government's latest Intergenerational Report. What can we do to jolt Australia out of this growth and productivity malaise? Plus, BRICS talk dedollarisation, Argentina talks dollarisation, and the case for bringing back the proper office.

China this week suspended its youth unemployment data, having registered a record high in June. It's one of a raft of economic series that China has pulled in recent years. How troubling a sign is this for the Chinese economy? Plus, unemployment in Australia ticks up, wages growth remains relatively subdued, Russia's crashing rouble, and Mark's mixed World Cup allegiances.

China's economy is experiencing a bout of deflation. Consumer demand is weak, the population is growing older and the property sector is undergoing a painful deleveraging. Is the Chinese economy about to stagnate like Japan in the 90s? Plus, the latest confidence numbers for Australia and CBA posts a record profit on the back of rising interest rates.

The RBA has kept interest rates on hold for the second meeting in a row. Are we now, finally, done with rate rises? Plus, the US government credit downgrade and industrial policy makes a comeback.

Inflation in Australia is coming down. Have we won the war? Should Governor Lowe feel stiff? Or will rates need to stay 'higher for longer' as services inflation continues to blaze? Plus, the IMF sounds cautiously optimistic on global growth and Mark gives us his reflections on the UK economy after his holiday.