Following unrelenting pressure by the International Monetary Fund (IMF) and World Bank, the Nigerian government intends to eliminate its fuel subsidy in July 2022. Nigeria spent about N10 trillion (currently US$24.5 billion) on petroleum subsidies between 2006 and 2018. About $2.5 billion was spent on fuel subsidies in 2020. It is expected that the subsidy […]
Jobs report hints that Fed policy is paying off – and that a ‘growth recession’ awaits
The latest jobs report is in, and the good news is Federal Reserve policy on inflation appears to be working. The bad news is Fed policy on inflation appears to be working. The March 2023 jobs report reveals that the U.S. economy added 236,000 jobs during the month – roughly in line with expectations. A […]