It’s summer camp season and not to be left out, U.S. rate setters and overseas pals gather in Jackson Hole, Wyoming, to talk central banking.
That doesn’t mean central banks are off the hook. Inflation remains sticky in places and investors want to know how long it will take for central banks to switch to easing. Bonds yields are rising again, threatening to dent stocks. Property accounts for roughly a quarter of the economy and news that new home prices fell for the first time this year in July is worrying.
Input and output prices will also come under scrutiny as rising oil prices and strong labour markets suggest inflation is not contained yet.
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