Economy
Christine Lagarde to step down as ECB president on Feb. 7, 2027
ECB President Christine Lagarde will step down Feb. 7, 2027, triggering the EU process to appoint her successor amid wider ECB leadership turnover.
Finance
Markets, economy, and industry.
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Economy
Fed Holds Rates at 3.75%–4.00%; Two Officials Push for Another Hike
Fed holds benchmark rate at 3.75%–4.00% on Oct. 28; two FOMC members dissented, urging a quarter-point increase as inflation remains elevated.
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Economy
Bank of Canada to Host Gita Gopinath as Ottawa Drafts Rules for Fiat-Backed Stablecoins
Harvard economist Gita Gopinath will lecture in Ottawa as Canada publishes draft rules that would make the Bank of Canada supervisor for fiat-backed stablecoins.
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Economy
CBO: U.S. Federal Net Saving Projected at -$1.8 Trillion in 2026, Worsening to -$3.0 Trillion by 2036
CBO converts its Feb. 2026 budget baseline into national accounts, finding U.S. federal net saving at -$1.8T in 2026 and -$3.0T by 2036.
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Economy
Bank of Japan Says Banking System Resilient but Flags Rising Asset Prices and AI-Linked Risks
BOJ’s Oct. 2026 Financial System Report finds banks can withstand severe shocks but urges careful monitoring of stocks, Tokyo real estate and AI risks.
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Economy
South Africa’s debt begins to fall; finance minister trims growth forecast and announces temporary fuel‑levy relief
South Africa’s 2026 midyear budget update says gross debt has stabilised and is now falling, trims next-year growth and unveils temporary fuel‑levy relief.
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Economy
Canada inflation rises to 3.1% in September; core measures ease ahead of Bank of Canada decision
CPI rose 3.1% in September as gasoline and energy surged, while the Bank of Canada’s preferred core inflation gauges cooled before its Oct. 28 policy decision.
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Economy
U.S. Consumer Prices Accelerated in September as Gasoline and Shelter Push Inflation Up
September CPI rose 0.6% as gasoline surged and shelter costs climbed; core CPI climbed to 2.6%, complicating the Fed’s path back to 2%.
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Economy
Fed Survey: Median Family Income and Net Worth Up in 2025, Debt Payments and Delinquencies Rise
The Fed’s 2025 survey shows modest gains in median income and net worth, while household debt payments and delinquencies rose sharply.
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Economy
CBO: $1 Billion in Flood Adaptation Could Cut $3–4 Billion in Future Damage Over 30 Years
CBO finds $1B in federal flood adaptation could cut $3–4B in future flood damage over 30 years, but official budget scores typically won't count those savings.
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Economy
Lagarde Warns AI Is a Financial‑Stability Risk, Urges Focus on Trading, Cyber and Europe’s Provider Dependence
Christine Lagarde warns AI can pose systemic financial risks, urging attention to trading correlation, cyber resilience and Europe’s dependence on a few providers.
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Economy
BEA Revises U.S. Q2 GDP Up to 2.2% as Inflation Remains Elevated
BEA's third estimate lifts U.S. Q2 GDP to a 2.2% annualized rate; PCE inflation rose 5%. State growth ranged from 4% in New York to −2.3% in West Virginia.
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Economy
Reserve Bank of Australia Raises Cash Rate to 4.60%, Flags Inflation Risks
RBA raised the cash rate 25bps to 4.60%, citing persistent inflation, global energy and AI-driven price pressures and leaving open the possibility of further hikes.
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Economy
U.S. Manufacturing Hits 52-Month High in S&P Global Flash PMI, Raising Inflation Concerns
S&P Global’s flash PMI shows U.S. manufacturing surged to a 52-month high in September, boosting growth outlook while heightening inflation and rate risks.
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Economy
BOJ minutes show shift from lifting to 'anchoring' 2% inflation, stoking debate over further rate hikes
July BOJ minutes show policymakers shifting focus from lifting inflation to anchoring it at 2%, prompting debate on timing and pace of further rate increases.
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Economy
GAO: Tax Fraud Likely Costs U.S. $116–$304 Billion a Year; IRS Lacks Agencywide Antifraud Strategy
GAO estimates federal tax fraud costs $116–$304 billion a year and says the IRS lacks an agencywide antifraud strategy and a designated coordinating office.
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Economy
Isabel Schnabel to leave ECB for senior IMF policy role in January
ECB Executive Board member Isabel Schnabel will resign Jan. 3, 2027 to become IMF financial counsellor and head of its Monetary and Capital Markets Department.
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Economy
CBO: Income Inequality Narrowed in 2023 as Lower-Income Households Gained and Top 1% Fell
CBO: Income inequality narrowed in 2023 — incomes rose for the lowest quintile and fell for the top 1% (lower capital gains). But inequality rose since 1979.
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Economy
Fed Raises Policy Rate to 3.75%–4.00% in First Hike Under Chair Kevin Warsh
On Sept. 16 the Fed raised its policy rate to 3.75%–4.00% — the first hike under Chair Kevin Warsh — and projected rates to stay elevated.
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Economy
CBO: U.S. Combat Operations Against Iran Cost About $38.1 Billion Through Aug. 1
CBO estimates U.S. combat operations against Iran cost about $38.1B through Aug. 1, driven by munitions and flight hours; monthly costs may rise $2–3B.