Barets, in a blow for his food-famous nation, didn’t win.
in last year’s final quarter. And inflation, whilehad fallen sharply from its peak more than two years ago.
What a difference seven weeks makes.As the Fed prepares to meet Tuesday and Wednesday, the central bank and its chair, Jerome Powell, are potentially headed to a much tougher spot. Inflationbut is still high and
could push it higher. At the same time, ongoing tariff threats as well as sharp cuts to government spendingand business confidence, which could weigh on the economy and even push up unemployment.
The toxic combination of still-high inflation and a weak or stagnant economy is often referred to as “stagflation,” a term that haunts central bankers. It is what bedeviled the United States in the 1970s, when even deep recessions didn’t kill inflation.
Stagflation, should it emerge, is hard for the Fed because typically policymakers would lift rates — or keep them high — to combat inflation. Yet if unemployment also rises, the Fed would usually cut rates to reduce borrowing costs and lift growth.is mourning Geoffrey Nyarota, one of the country’s most prominent journalists best known for exposing government corruption and launching what became the country’s most popular and critical independent newspaper.
Nyarota died on Saturday of colon cancer. He was 74. His burial is set for Wednesday.The veteran newsman came to prominence in the late 1980s when, as editor of state-run newspaper The Chronicle, he exposed a racket involving cabinet ministers and top government officials who jumped the line to buy cars from a local vehicle assembly firm, and resold them for a profit at a time the country was facing vehicles shortages.
A commission of inquiry was established, five ministers resigned, one of them eventually taking his own life, but Nyarota lost his job and left the country to teach journalism in southern Africa.Nyarota had trained as a teacher, one of the few jobs open to educated Blacks during white minority rule in what was then known as Rhodesia, before branching into journalism.