Topics

Posted 9/7/2023, 3:00:00 PM

Jim Chalmers warns soft landing ‘not assured’ for economy despite Treasury forecasts

Jim Chalmers warns a soft landing for the economy is "not assured" despite Treasury forecasts. Main risks are slowing China economy and prolonged slump in household consumption.
Growth was negative in per capita terms for 2nd quarter in a row, so Australia is in a "per capita recession".
Household spending only rose 0.1% last quarter as families battle high prices and borrowing costs.
Albanese raised concerns about China's slowing economy in meeting with Chinese Premier Li Qiang.
Outgoing RBA governor Philip Lowe said fiscal policy by government could provide stronger support than monetary policy. Suggested independent fiscal body.

theguardian.com

Relevant topic timeline:

8/23/2023

Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates?

The Federal Reserve faces new questions as the U.S. economy continues to perform well despite high interest rates, prompting economists to believe a "soft landing" is possible, with optimism rising for an acceleration of growth and a more sustainable post-pandemic economy.

8/27/2023

Australia concerned about China economy, monitoring 'very closely'

Australian Treasurer Jim Chalmers expresses concern over China's weakening economy and warns of potential implications for Australia's economy due to the countries' trading relationship and diplomatic tensions.

8/28/2023

A recession might have been simpler than what awaits the U.S. economy

The economy is experiencing a soft landing, but the long-term consequences of easy money policies are still uncertain, with bankruptcies and a potential shakeout in office real estate looming.

9/1/2023

Decoding the Economics of a Soft Landing

The U.S. economy may achieve a soft landing, as strong labor market, cooling inflation, and consumer savings support economic health and mitigate the risk of a recession, despite the rise in interest rates.

9/6/2023

Australian economy grows modestly in Q2, eases recession fears

Australia's economy grew more than expected in the second quarter, driven by exports and investment, while household consumption remained weak due to high interest rates; however, productivity and rising labor costs remain concerns for the Reserve Bank of Australia.

9/13/2023

Australian Job Growth May Slow Further Amid Global Economic Headwinds

Australia's labor market may have peaked as the unemployment rate hovers around historic lows, leaving little room for improvement and potentially opening the door for further job losses, which could negatively impact the Australian Dollar (AUD) that has already been weakening due to slowing Chinese demand. Economists expect an increase in jobs for August, but there is potential for a downside surprise and a second consecutive month of declines.

9/16/2023

Has Powell Achieved the Impossible? Economy Holds Despite Aggressive Fed Rate Hikes

Despite economists' hopes for a "soft landing" of the economy, signs such as inflation and uncertain variables make it difficult to determine whether the U.S. economy has achieved this outcome.

9/18/2023

Don't Bet on a Soft Landing - Examining the Narrative of Moderating Inflation and Fed Rate Cuts

The article discusses the current state of the economy and questions whether the "soft landing" explanation and belief in a full recovery are accurate, particularly in light of China's economic struggles and global inflation concerns.

9/20/2023

Fed Forecasts Soft Economic Landing But Warns Risks Remain

Federal Reserve Chair Jerome Powell indicates that while policymakers project a "soft landing" for the US economy, he does not confirm it as a baseline expectation due to external factors beyond their control such as the autoworker strike, government shutdown, and higher borrowing costs.

9/24/2023

Fed Faces Balancing Act as Inflation Eases But Risks Remain for Economy

The US economy may struggle to achieve a "soft landing" with low inflation and low unemployment due to several economic uncertainties and headwinds, including toughened lending standards and the resumption of student loan payments, according to experts.

9/24/2023

Australian economy faces risks from potential China slowdown

The impact of a potential economic downturn in China will be felt in Australia through weakened trade and reduced risk appetite in financial markets, according to Australian regulators.

Topics

Posted 9/7/2023, 3:00:00 PM

Jim Chalmers warns soft landing ‘not assured’ for economy despite Treasury forecasts

Jim Chalmers warns a soft landing for the economy is "not assured" despite Treasury forecasts. Main risks are slowing China economy and prolonged slump in household consumption.
Growth was negative in per capita terms for 2nd quarter in a row, so Australia is in a "per capita recession".
Household spending only rose 0.1% last quarter as families battle high prices and borrowing costs.
Albanese raised concerns about China's slowing economy in meeting with Chinese Premier Li Qiang.
Outgoing RBA governor Philip Lowe said fiscal policy by government could provide stronger support than monetary policy. Suggested independent fiscal body.

theguardian.com

Relevant topic timeline:

8/23/2023

Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates?

8/27/2023

Australia concerned about China economy, monitoring 'very closely'

8/28/2023

A recession might have been simpler than what awaits the U.S. economy

The economy is experiencing a soft landing, but the long-term consequences of easy money policies are still uncertain, with bankruptcies and a potential shakeout in office real estate looming.

9/1/2023

Decoding the Economics of a Soft Landing

9/6/2023

Australian economy grows modestly in Q2, eases recession fears

9/13/2023

Australian Job Growth May Slow Further Amid Global Economic Headwinds

9/16/2023

Has Powell Achieved the Impossible? Economy Holds Despite Aggressive Fed Rate Hikes

Despite economists' hopes for a "soft landing" of the economy, signs such as inflation and uncertain variables make it difficult to determine whether the U.S. economy has achieved this outcome.

9/18/2023

Don't Bet on a Soft Landing - Examining the Narrative of Moderating Inflation and Fed Rate Cuts

9/20/2023

Fed Forecasts Soft Economic Landing But Warns Risks Remain

9/24/2023

Fed Faces Balancing Act as Inflation Eases But Risks Remain for Economy

9/24/2023

Australian economy faces risks from potential China slowdown

The impact of a potential economic downturn in China will be felt in Australia through weakened trade and reduced risk appetite in financial markets, according to Australian regulators.