The IMF this week recommended that the Federal Reserve delay its first hike in interest rates until we see “clear signs of wage and price inflation, and sufficiently strong economic growth.” It’s debatable if those conditions apply, although many analysts say nay at the moment. In any case, sober economic analysis may not matter as long as the Greek crisis stalks the macro landscape.
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● The end game for Greece ends on Sunday…
● And the Greek leader calls for a new deal with Europe…
● Meanwhile, US job openings tick up to a record high in May…
● As Gallup’s US economic confidence index sticks to a 7-month low…
● And the US trade gap in May widened as exports slow amid global headwinds…
● China’s stock market continues to slide…
● A rout that may have implications for economic reforms.