Economy

Manuel Balce Ceneta / AP  

 

The Fed vs Inflation 

Experts: Powell a hawk next week despite the ECB's yaw 

 

The Federal Reserve is expected to leave interest rates unchanged next week but repeat its "hawkish" signals that more increases may be in the offing. That's what several analysts told Bloomberg. 

 

- There is no chance that they will signal that they are finished, says JP Morgan's chief economist Bruce Kasman.  

 

He believes that the Fed's updated forecasts in connection with the meeting will show that the members leave the door open for another increase in November or December.  

 

The message would thus be in stark contrast to yesterday's dovish ECB statement, which investors interpreted as the interest rate peak has been reached.  

Archive image. JESSICA REILLY / AP  

 

Economy  

Historic strike announced among US automotive giants  

 

The United Auto Workers union has announced a strike at the three automotive giants Ford, General Motors and Stellanti factories. This after the agreement expired last night between the union and the employers, writes several media.  

 

According to AP, around 13,000 employees are on strike at the three vehicle manufacturers. It is also the first time in the union's 88-year history that a strike has been called at all three vehicle manufacturers.  

 

The negotiations between the parties have been going on for a long time and have become increasingly intense in recent weeks. 

 

 - This will give our negotiators maximum leverage and flexibility in the negotiations. And if we need to walk the line, we will, everything is at stake, says UAW President Shawn Fain in a statement, writes Bloomberg.  

 

The car manufacturers condemn the strike and, among other things, GM and Stellantis write that they are "disappointed".