Is the K-shaped economy really more of an E?
Source: FT World โ (cross-verified by 2 outlets โ full list below)
America remains a very unequal place, but on many metrics inequality is not increasing.
ADP Chief Economist and ESG Officer Nela Richardson says the US has a lopsided economy. She says new data shows inflation is running hot while paychecks are not keeping up.
She speaks on "Bloomberg Surveillance." (Source: Bloomberg).
โก Effects Interpreter
๐World Economymedium impact
What this means for you
- โถPolicy turns can send quiet ripples through the wider economy.
- โถInternational confidence can wobble, then steady, as politics plays out.
๐๏ธLocal Economylow impact
What this means for you
- โถFamily budgets close to home might absorb a small, slow-moving effect.
- โถEveryday essentials could nudge in price as suppliers adjust.
๐ฆRates & Bankslow impact
What this means for you
- โถGovernment bond yields typically move first when politics takes a turn.
- โถCurrencies can react fast to political news โ the pound or dollar could move.
โค๏ธHealthlow impact
What this means for you
- โถWorry has a way of spreading faster than the facts sometimes.
- โถLocal health services might get busier depending on how things develop.
๐ทWealthmedium impact
What this means for you
- โถSavings and portfolios can see short-lived ups and downs after a story like this.
- โถIt's a reasonable moment to check your investments are still on track.
๐ Housingmedium impact
What this means for you
- โถThe property ladder rarely wobbles much from a single piece of news.
- โถHousing supply and demand rarely turn on a single piece of news.
๐ Effects for your country
The U.S.'s central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The U.S.'s economy is growing at 2.3% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the U.S.'s own central bank rate closely. With the U.S.'s unemployment at 4.4%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in the U.S. depends more on local healthcare capacity than the figures above.
The UK's central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The UK's economy is growing at 0.8% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UK's own central bank rate closely. With the UK's unemployment at 5.6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in the UK depends more on local healthcare capacity than the figures above.
France's central bank rate currently stands at 2%, so a global rates move like this could feed through to local borrowing costs. France's economy is growing at 0.9% with inflation at 1.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track France's own central bank rate closely. With France's unemployment at 7.9%, personal-finance effects like this land on a labour market that is already under strain. Health-system effects are harder to localise from economic indicators alone โ the real impact in France depends more on local healthcare capacity than the figures above.
Romania's central bank rate currently stands at 6.5%, so a global rates move like this could feed through to local borrowing costs. Romania's economy is growing at 0.7% with inflation at 7.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track Romania's own central bank rate closely. With Romania's unemployment at 6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in Romania depends more on local healthcare capacity than the figures above.
The UAE's central bank rate currently stands at 3.65%, so a global rates move like this could feed through to local borrowing costs. The UAE's economy is growing at 3.1% with inflation at 2.5%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UAE's own central bank rate closely. Health-system effects are harder to localise from economic indicators alone โ the real impact in the UAE depends more on local healthcare capacity than the figures above.