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Jerome Powell appeared to back a cut to borrowing rates and played down long term inflation risks in his annual speech at Jackson Hole. 
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Graham Watson's insight:
This BBC article looks at the current state of the US economy and argues that it's currently in an odd state. Growth has slowed and labour market suggests a lack of job creation but inflation hasn't risen by the amount that most people thought that it would, and it remains at 2.7% - higher perhaps than the President would like, but not outrageous.
The question is where next? Some predict a recession, others worry about stagflation, and most think that things are, at some point going to improve. However, most agree that the President's policy choices haven't helped matters.
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The South American country is dealing with very high inflation ahead of its latest general election.
Graham Watson's insight:
A snapshot of the economic woes facing Bolivia in the run-up to a Presidential Election, with annual inflation of 24% and economic stagnation, and doubts about the economic model and declining natural gas revenues.
In common with many developing economies though, the government has subsidised petrol at great expense - something that's regressive - and it can no longer afford to do so.
However, experienced observers fear that the public are placing too much hope on a change of government.
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The technological and strategic brilliance of its world-class companies are being swamped by macroeconomic troubles
Graham Watson's insight:
Experienced China watcher, George Magnus, reckons that we might thave reached peak China - in as much as its technological successes, not least in the environmental sector, is being put in the shade by its ongoing troubles with slowing growth, shrinking population and structural weaknesses, with over-investment, stagnant productivity and the misallocation of capital.
However, much as I respect his opinion, I'm always cautious about predicting peak anything. The concept of peak oil is over a century old, and human beings, not least Chinese ones, have shown remarkable ingenuity in the past. That said, given the credentials of the author, it's worth bearing this view in mind.
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What would Nepal’s labour productivity look like if every child—no matter where they are born—had access to quality education and healthcare? Sujata's story tells the saga of the unrealized talent and untapped potential of children born in Nepal. The Nepal Human Capital Review provides a comprehensive assessment of the country’s human capital and actionable policy recommendations to bridge the gap between Nepal’s aspirations and today’s realities.
Graham Watson's insight:
This World Bank clip looks at the potential human capital of a nation, using the Human Capital Index which attempts to measure the extent to which children in a country, in this case, Nepal, are able to achieve their potential.
In the case of Nepal, education and health have improved, but there's still a way to go. Nepalese education means that instead of 12 years of schooling, they get only 7 effective years of learning, and healthcare systems are still basic, with 25% of children under-5 stunted.
In short, it's plotting a way for Nepal to focus on maximising its future productivity.
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Industry representatives warn of job losses and say decision could be ‘nail in the coffin’ for those exporting to the US
Graham Watson's insight:
Uncertainty begets uncertainty as nations respond to the new round of President Trump's tariffs which are going to disrupt global trade and having a devastating effect on countries ranging from Laos, with a 40% tariff, and Lesotho, which secured a last-minute reprieve and now faces a 15% tariff rather than a 50% tariff. However, in both cases, the textile sector has been eviscerated and there have already been substantial job cuts.
And despite the US-EU trade deal, it's still the case that the EU car industry is suffering too. So who is gaining from these tariffs? The answer...
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Overcapacity – from electric vehicles to high-speed rail to housing – is destroying profits as well as GDP
Graham Watson's insight:
Excellent George Magnus piece highlighting why overcapacity, not least in infrastructure is harming the Chinese economy. He notes that in a range of sectors, including electric vehicles (EVs), has entrenched deflation and falling prices, meaning that GDP is destined to remain stagnant, unless the economy can pivot towards consumer goods and services. It's a fascinating insight, highlighting how diminishing marginal returns can be applied to the growth of one of the world's largest economies.
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The president also hits India with a 50% tariff and threatened a 100% levy on foreign-made semiconductors.
Graham Watson's insight:
Today's the day: President Trump's new tariffs have come into effect and the President - true to form - has declared "that billions of dollars were now flowing into the US due to tariffs".
Ignorance is clearly bliss in this case. Who is paying these tariffs and how is the average American benefiting from them. It would be interesting to see how the President responds.
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The president has an awful lot to say about tariffs – but what about what he doesn’t say?
Graham Watson's insight:
And here's more on the dissembling, disingenuous and just downright dishonest rhetoric surrounding tariffs. The article notes that there's be no comment on the impact of tariffs on inflation, despite the fact that some estimate that their impact has cost the average household $2,400.
No surprises there - and neither was there when the President won the Seniors title at his golf club with a gross 69. He's the best Presidential golfer since Kim Jong-Un.
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Overcapacity and oversupply are causing ‘involution’ and putting growth at risk, manufacturers told
Graham Watson's insight:
This article introduces an economic term that I've not come across in 35 years of being involved in Economics: involution.
Involution appears to refer to a phenomenon in sectors suffering from over-capacity, where firms are still investing and suffering from diminishing marginal returns as a result. The wider implication of this is that over-production is putting downwards pressure on prices generating persistent deflation and the economic problems associated with this.
President Xi has identified a number of areas where provincial governments are over-investing in AI, computing power and electric vehicles.
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The move comes as a weaker-than-expected jobs report stoked fears about tariffs.
Graham Watson's insight:
Just a remarkable story - President Trump has fired the head of the Bureau of Labor Statistics because "had "RIGGED" jobs figures "to make the Republicans, and ME, look bad".
The optics look awful - if you don't like the data, sack the officials and produce your own. President Trump might look to China for inspiration, where economic data has been "man made" for a while but it doesn't do much for the independence and credibility of economic data and, potentially, policymaking.
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Decision, described by Mark Carney as ‘disappointing’, comes amid escalating trade tensions between the two countries
Graham Watson's insight:
Confirmation of the 35% tariff on Canada. If ever you wanted proof of the fact that these tariffs aren't based on economic reasoning but malice and the petty agenda of a man so thin-skinned that you could peel him.
Who's gaining? I feel for Mark Carney - imagine having to treat President Trump with even a scintilla of courtesy?
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Critics have described the one-sided deal as an admission of weakness, and a dark day for Europe. They are absolutely right, says Guardian columnist Larry Elliott
Graham Watson's insight:
Crikey! No equivocation from Larry Elliott who describes the US-EU trade deal as the "EU's Suez moment" arguing that it demonstrates the subservience of the latter to American interests. As a result, he suggests that only China can rival the US.
Whilst I think that there's something in this, for me it goes a little bit too far, given the close relationship between the two economies - and the possibility that the US could turn its back on tariffs post-Trump.
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Small California producers say Trump’s EU levies are driving up costs and threatening family businesses
Graham Watson's insight:
The impact of President Trump's tariffs has been wide-reaching, in this case, US winemakers are having to cope with higher costs of French made barrels and corks, making their wine less internationally competitive as a result.
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US producers raised prices at the fastest pace in more than three years last month, stoking concerns about higher prices for consumers.
Graham Watson's insight:
Is inflation coming down the tracks in the US? You would think so, given President Trump's insistence on tariffs, and the empirical data in the form of a 0.9% increase in the Producer Price Index in July would certainly appear to suggest as much.
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Trump’s trade war has pushed up inflation, slashed US job gains, slowed economic growth and caused the manufacturing sector to sputter
Graham Watson's insight:
A balanced assessment of the implications of President Trump's trade policy: slower economic growth, rising inflation, a slowing jobs market and ongoing uncertainty affecting the manufacturing sector.
Declining economic welfare all round. So who exactly is gaining from this?
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RBA also warns of ‘persistently’ lower productivity growth than previously expected as it reveals interest rate decision
Graham Watson's insight:
It's not just in the UK that interest rates are falling, the Reserve Bank of Australia have also cut rates to 3.6% because of concerns about the economy slowing as a result of lower productivity. You have to suspect that the global trade environment isn't helping global economic growth.
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Those who insist on spending cuts are those who are never hurt by them. Time to be brave – and take a new tack, says Guardian columnist Andy Beckett
Graham Watson's insight:
And finally, to channel the Two Ronnies - one for the kids, that - a bit of left-wing polemic highlighting the fiscal choice that faces Labour. Does it continue to look for spending cuts, and adopt austerity, or is there another option?
I'm not convinced by this article - it presents the government's decision to seemingly adopt austerity as inevitably going to lose it the next election. The reality is that very few Labour governments win back-to-back election victories, and far more Labour defeats have been predicated upon a lack of fiscal credibility and too much government spending.
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US President Donald Trump's sweeping new tariffs on more than 90 countries around the world have come into effect. Just before the deadline for deals to be agreed to cut or avoid the import taxes Trump posted on his Truth Social platform that billions of dollars were now flowing into the US due to tariffs.
Graham Watson's insight:
The BBC reports on the new round of President Trump's global tariffs, and the implications of this for global trade. This BBC clip looks at the wider effects of this for the UK, but also India and Southern African states.
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Reforms to Sri Lanka's university programs are helping build a workforce for the global economy, and giving young women studying arts and humanities a chance to take science, technology, engineering, math (STEM) and IT courses. The professional skills they develop through these enhanced programs are helping women to pursue jobs in competitive fields, and climb the corporate ladder more confidently.
Graham Watson's insight:
Of course I'm going to scoop a Sri Lanka clip - and this World Bank clip looks at how providing ICT and STEM skills in Sri Lanka is going to improve the job prospects of female students. Sri Lanka has a very low female participation rate, of less than 40%, so anything that improves this has the potential to boost both growth and development.
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India, which now faces among the highest tariff rates imposed by the US, called the levy "unjustified and unreasonable".
Graham Watson's insight:
President Trump has decided to punish India for its purchases for Russian oil, by imposing an additional 25% tariff on Indian exports bringing the total tariff on Indian goods to 50%. This means that India will face one of the highest tariff rates from 27 August.
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The firing of Erika McEntarfer, head of the Bureau of Labor Statistics, destroys the credibility of essential information.
Graham Watson's insight:
A former Democrat appointee as US Labor Secretary - but not spelling - spells out what the decision to fire Erika McEntarfer, head of the Bureau of Labor Statistics, means for the credibility of President Trump's policymaking.
I'm just surprised it's taken you so long...
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Thanks to stockpiling, neither the markets nor consumers have been as badly affected by the trade wars as feared. But signs of trouble are looming
Graham Watson's insight:
Whither the US economy: it seems that the immediate impact of Trumponomics is less than expected, with the economy proving more resilient than expected. However, as Richard Partington writes, will the same be true in the longer-term or will inflation pick up and joblessness rise?
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US president signs executive order that will impose reciprocal tariffs on dozens of countries in seven days’ time, and orders imminent 35% tariffs on Canada
Graham Watson's insight:
That tariff list in full.
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High levies affecting some of world’s poorest countries are to go into effect in seven days, while Mexico granted 90-day extension
Graham Watson's insight:
I'd have thought the prospects of a Craig David-Donald Trump mash-up are rare but in seven days the US is going to alter the nature of global trade by imposing sweeping tariffs on a range of countries. The tariffs range from 10% on Brazil to 41% on Syria and 40% on Laos and Myanmar.
Of course, these tariffs are all well-thought out and calculated by a formula so-complicated that only the President can understand it, and not at all determined by malice.
Canada faces a 35% tariff - ostensibly for failing to curb the flow on fentanyl, but more probably because of its stance on a Palestinian state.
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The Chair of the Federal Reserve, Jerome Powell, has signalled a likely softening of monetary policy at the central bankers gathering at Jackson Hole, Wyoming.
This implies that there's soon going to be an interest rate cut, in part because there's a sense that the inflationary effects of President Trump's tariffs are going to be temporary, and the cuts might be required to boost a slowing economy.