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When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation for three painful years was now essentially defeated. The Fed's high interest rates, Powell said, had managed to achieve that goal without causing a widely predicted recession and high unemployment. The relatively sour mood of the public is creating challenges for Vice President Kamala Harris as she seeks to succeed President Joe Biden.

South Korea's central bank said on Tuesday that consumer inflation was expected to maintain the current stable trend for the time being. The Bank of Korea said inflation was stabilising more quickly than in other major economies, in a statement released after data showed inflation reached the central bank's target in August.

(Bloomberg) -- One of the most contentious investing strategies on Wall Street might be a lot less beleaguered right now if its defenders had shown a bit more moderation from the get-go, according to Kyle Bass.Most Read from BloombergA Guide to Urban Swimming in Europe, Beyond the SeineDense Cities With Low Emissions Suffer Most From Air Pollution, Study FindsIntergenerational Housing Could Help Older Adults Combat LonelinessTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsThe hedge fund vet

JAKARTA (Reuters) -Indonesia's annual inflation rate was 2.12% in August, essentially unchanged from 2.13% in July, official data showed on Monday, holding comfortably within the central bank's target range and matching market expectations. The August headline inflation rate was the lowest since February 2022, and matched the forecast in a Reuters poll. Bank Indonesia (BI) has a target range of 1.5% to 3.5% for inflation.

Worries of being uprooted from their jobs have returned for Laura Dodson and other federal workers, who have long been the economic backbone of the nation's capital and its suburbs. During former President Donald Trump 's administration, her office under the U.S. Department of Agriculture was told it would be moving. A rushed process that failed to consider the need to find homes, jobs for spouses and schools for children prompted some retirements, she said, and some took other federal jobs, hurting the agency in the end.

After quitting the education industry last August due to China's crackdown on private tutoring, He Ajun has found an unlikely second life as an unemployment influencer. The Guangzhou-based vlogger, 32, offers career advice to her 8,400 followers, charting her journey through long-term joblessness. China is under instruction to unleash "new productive forces", with government policies targeting narrow areas of science and technology including AI and robotics.

(Bloomberg) -- Upcoming readouts on the US labor market, including the monthly payrolls report, will give Federal Reserve policymakers insight into the need for further interest-rate reductions after an all-but-certain cut in a little more than two weeks.Most Read from BloombergA Guide to Urban Swimming in Europe, Beyond the SeineDense Cities With Low Emissions Suffer Most From Air Pollution, Study FindsIntergenerational Housing Could Help Older Adults Combat LonelinessTurkey Plans Istanbul Taxi