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Money US Monetary Watcher - Crisis's low point has been passed

19:16  30 june  2020
19:16  30 june  2020 Source:   de.reuters.com

Inflation at its lowest level in almost four years

 Inflation at its lowest level in almost four years Good news for consumers: The massive drop in energy prices in the Corona crisis is significantly dampening inflation in Germany. Price inflation has been weakening for three months now. © Photo: Stefan Sauer / dpa-Zentralbild / dpa Inflation in Germany fell to the lowest level in almost four years in May during the corona crisis. In May, it dropped to its lowest level in almost four years: consumer prices were 0.6 percent above the level of the previous month, as the Federal Statistical Office

FILE PHOTO: John Williams, CEO of the Federal Reserve Bank of New York, speaks at an event in New York © Reuters / Carlo Allegri FILE PHOTO: John Williams, CEO of the Federal Reserve Bank of New York, speaks at an event in New York

Washington (Reuters) - The US has it A leading currency guard believes that the bottom of the corona crisis is behind.

The head of the US central bank district New York, John Williams, pointed out at an online event of the banking association IIF on Tuesday that consumer spending had risen again and that the unemployment rate, which had risen sharply in the meantime, had begun to decline. Still, it would take years for the US economy to fully recover from the shock.

The future of the US economy is extremely difficult to predict given the Fed's central bank chief Jerome Powell in view of the corona virus crisis. The further development largely depends on how successfully the pandemic can be contained. Only when people feel completely safe again can a complete economic recovery be expected.

Tax cut from July 1st: VAT cut brings price advantages - but not everywhere .
In the crisis, the tax cut is intended to help business and consumers. Whether businesses pass the savings on to customers depends on the industry. The most important questions and answers. © Photo: Fabian Sommer / dpa Shops decide for themselves whether to pass the tax reduction on to customers. This is likely to happen in highly competitive industries like food retail.

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