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Fed's Powell: Wages are not moving up at a troubling rate that would spark inflation

With the U.S. economy growing strongly and supply-demand imbalances poised to persist in the near future, policymakers need to be ready to respond to the possibility that inflation may not recede in the second half of next year as expected, Federal Reserve Chair Jerome Powell said on Wednesday.
Jerome Powell Jonnelle Marte Thomson Reuters Trust Principles House Committee On Financial Services Federal Reserve Federal Reserve Chair Jerome Powell

Turkey spends money it doesn't have

Minutes before President Tayyip Erdogan delivered a speech renouncing high interest rates once again, the Turkish central bank said it was selling dollars to support the lira. The bank has $25 billion of net reserves as of November, down from $28 billion the month before. But that includes another $48 billion of swaps from local banks, without which reserves are firmly in negative territory.
City Of United Kingdom Dasha Afanasieva Tayyip Erdogan Neil Unmack Oliver Taslic

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