Growing signs of lackluster growth and risks emerging to the job market overshadowed a gathering of global policymakers at the U.S. Federal Reserve's annual ...
JACKSON HOLE , Wyoming - Growing signs of lackluster growth and risks emerging to the job market overshadowed a gathering of global policymakers at the U.S. Federal Reserve 's annual Jackson Hole conference, highlighting the changing trajectory of monetary policy as U.S. and European central banks eye cutting interest rates.
So far, many analysts agree with the International Monetary Fund's projection that the global economy will achieve modest growth in coming years as the U.S. achieves a soft landing, Europe's growth picks up and China emerges from the doldrums. New research presented in Jackson Hole showed the U.S. economy may be near a tipping point where a continued drop in job openings will translate into faster increases in unemployment.
Even in Japan, recent inflation data showed a slowdown in demand-driven price growth that could complicate the BOJ's decisions on more rate hikes. "China is a large player in global economy. Weaker growth in China has spillovers to the to the rest of the world," said IMF's Gourinchas. Brazilian central bank Governor Roberto Campos Neto, speaking at Jackson Hole's closing session, said: "The net effect...depends on how much the deceleration is."
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