“The job of the central bank is not to set the current level of inflation, but to keep wages down by influencing people’s expectations of the future level of inflation.”
Read here
Frances Coppola: Why central bankers don’t understand inflation
Economics
DeStatis – Germany: radical increase in imports from China and Russia, decrease in exports
Trade with China in April 2022 still largely unaffected by Covid-19 lockdowns Imports of chemical products grew almost six-fold year on year Exports to Russia decreased again in the second month of war in Ukraine […]
Austerity
Thiemo Fetzer : Tory Austerity And Welfare Cuts Like Bedroom Tax Directly Caused Brexit, New Study Finds
Better late than never. Was Brexit then just a repudiation of UK austerity, or did voters understand the the political establishment in Britain were also part of broader EU policy? Read here
Finance
Irish Examiner: Eight of top 100 multinationals pay no tax on profits
See the link above. These numbers from the article say it all: “Eight of the 100 companies with the highest taxable income had effective tax rates of zero, including some which had negative rates — […]
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