ZURICH, March 27 (Reuters) - The Swiss National Bank said on Wednesday the country's economy likely performed slightly better during the January-March period than in the prior quarters.
"Many economic indicators suggest that economic activity was slightly more dynamic in the first quarter of 2024 than in the preceding quarters," the bank said in a report. (Writing by Dave Graham; editing by Matthias Williams)
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The US dollar has rallied all week, as the Bank of Japan decided not to do anything about the interest rate, and even said that the depreciation of the yen isn’t an issue.
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After preparing for a recession, and hoping for a soft landing, the U.S. might end up in an unexpected bout of stagflation.
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Jamie Dimon and Jerome Powell are taking the European viewpoint on soaring debt levels in the U.S.
A first-quarter GDP slowdown, paired with hotter inflation, is a sign of trouble for the Fed. Some analysts warn of eventual stagflation.
JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. In an interview with The Associated Press at a Chase branch opening in The Bronx, Dimon said he remained “cautious” about the U.S. economy and said inflation may be stickier for longer and that “stagflation is on the list of possible things” that could happen to the U.S. economy.
Jared Bernstein, Chair of the Council of Economic Advisers, breaks down the recent data showing softer growth and hotter inflation, and if there should be any concerns over consumer sentiments. He states that the economy is still very strong and shares his thoughts on how he sees inflation coming down as the Federal Reserve is no longer hiking interest rates. Jared Bernstein speaks with Kailey Leinz and Joe Mathieu on Bloomberg's "Balance of Power."