Economy

China cuts it U.S. debt portfolio to under $1 trillion, possibly to support its currency or reduce exposure to potential U.S. sanctions.

CEO Jamie Dimon also cited economic worries, including the Ukraine war and inflation, in the big bank’s move to conserve cash.

The central bank has made its portfolio a key part of monetary policy. But the balance sheet’s economic impact isn’t entirely clear, experts say.

Kathryn Judge, who’s spent years studying the middleman economy, says we don’t want a world without intermediaries, but a “rebalancing” is in order.

It’s a bit like the stimulus payments the federal government handed out early in the pandemic. Just don’t call it stimulus.

Many independent drivers are starting to see lower rates and increased fuel costs, says Lewie Pugh, executive vice president of the Owner-Operator Independent Driver Association.

The public is “at odds with expert opinion and traditional policymaking,” says Eric Plutzer of the McCourtney Institute for Democracy.

Those same workers have seen their wages grow faster than the overall average in the last year thanks to the labor shortage.

Trevon Logan, professor of economics at The Ohio State University, says we’re looking at a “new normal” for the federal funds rate.

The U.S. economy might have an easier time achieving a “soft landing” than economies in Europe and elsewhere.