Australia: The Labor Party remains and, with it, stimulative economic policies keeping RBA vigilant

At the federal election on May 3rd, Prime Minister Albanese was re-elected as Australia’s leader with the Labor Party wining a landslide victory. For sure, the President Trump has arguably helpedAlbanese, as Australian voters superimposed Trump’s strategies on the Coalition’s policies.  Beyond Trump, Albanese’s campaign has focused on alleviating the cost of living and improving housing affordability, which has surely helped towards his re-election.As announced at the March Budget (Chart 1), the Labor’s economic policies are stimulative, providing cost-of-living relief and supporting cleaner e...

FOMC のまとめ：事態の沈静化を待つ

FOMC Recap: Waiting for the Dust to Settle

In its May meeting, the Federal Open Markets Committee (FOMC) held rates steady at an upper bound of 4.5%, pausing for the third straight meeting after cutting 100bp since September. The official statement noted the increased uncertainty of the economic landscape and risks to both higher inflation and unemployment – an admission that stagflation is a concern . Given the questions about “the scale, scope, timing, and persistence of the tariffs” and their effect on the economy, the Fed will feel content to sit tight until “the appropriate direction becomes clear.”