ZH: Nike 'permanently' laying off 740 employees at world headquarters
ZERO HEDGE writes: US athletic footwear and apparel company Nike announced late in the cash session on ...
ZERO HEDGE reports:
Authored by Simon White, Bloomberg macro strategist,
Follow the money. That’s how to explain the Federal Reserve’s extraordinary dovish swing last week. The government’s soaring interest-rate bill will become an increasing drain on the volume and velocity of reserves in the system, stoking headwinds for assets and the economy. By jettisoning higher for longer, the Fed has enabled interest-rate costs to fall – but only by heightening future inflation risks and the prospect of higher yields.
Mark Wednesday 13th of December down as the day modern-era central-banking independence died in all but name. The rot began several years ago, and spread when inflation jumped to its highest level in decades. But the Fed’s Damascene conversion to dovishness at last week’s meeting was the fatal blow…
The full post can be read here (not that we agree with “future inflation risks”, but surely worth a read).
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