economy-and-policy34.96 min read
Canada Strikes Back With Counter-Tariffs, Risking a Broader Trade Fight
1 month ago•Source: Yahoo Finance
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18.715 min•1 month ago
Russia’s War Economy Risks Going Out of Balance, Titov Warns
Putin’s international development envoy Boris Titov warned that Russia’s economy could go “berserk” if policy focuses exclusively on the military-industrial complex, stressing the need to balance military needs with civilian sectors as Moscow presses to win in Ukraine. He noted signs of strain from higher taxes, property redistribution, and business contributions to finance the war, and described “berserk mode” as time-limited. With growth expected to around 0.4% this year and civilian sectors stagnating, Ukrainian attacks on economic targets could further slow the economy. Titov’s comments come ahead of Putin’s Far East economic forum amid election-season tensions and rumors of mobilization, signaling Kremlin concern about war-related economic pressures.
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KC Fed official: inflation still too hot, policy too loose ahead of Jackson Hole
Yahoo Finance•1 month ago
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Canada retaliates with $20B tariff push as trade dispute intensifies
Yahoo Finance•1 month ago
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Fed policymaker says inflation will require multiple rate hikes
Cleveland Fed president Beth Hammack says inflation will require more than one 25bp rate hike; current rates aren’t meaningfully restraining growth, so acting now is prudent to hit the 2% target. She notes core PCE around 3.3% in June and CPI near 2.5–2.6%, and emphasizes that markets should complement, not substitute, Fed action.
Cheap Bills, Big Burden: The Hidden $1.45T Treasury Shortfall
A Fortune report reveals the Treasury Borrowing Advisory Committee’s warning of a $1.45 trillion funding shortfall in fiscal 2027–28 as the government finances a roughly $2 trillion annual deficit. It notes that Scott Bessent has leaned on cheap short-term bills to keep borrowing costs down, but that approach leaves the government more exposed to inflation and rising rates. The piece ties this tactic to Janet Yellen’s prior policy and to economists Miran and Roubini, and warns of two looming waves of long-term debt as the Fed reduces its balance sheet, potentially stressing markets even as debt-service costs outpace major priorities like defense.
Trump Signals Push to Reshape Fed Through Warsh Talks
Bloomberg reports that President Trump has been calling Federal Reserve Chair Kevin Warsh since his confirmation, signaling an effort to influence the Fed while publicly affirming its independence; conversations reportedly focus on Warsh’s views and the economy, not on specific policy moves, with the White House saying Trump is giving Warsh space to restore confidence in decision-making amid inflation, energy prices and global tensions.