For generations on Wall Street, it was a statement of fact: The Federal Reserve’s “dual mandate” of price stability and maximum employment governed how it set interest rates, invoked time and again from Alan Greenspan to Jerome Powell.



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A growing number of economists believe the Bank of England has finished cutting interest rates as policymakers struggle to contain a fresh spike in inflation, a sentiment likely bolstered by fresh jobs data. The number of employees on payrolls dropped a further 8,000 in August, the Office for National Statistics said on Tuesday, smaller than the 12,000 decline forecast on average by economists surveyed by Bloomberg. Inflation data on Wednesday will underscore the policy headaches facing rate-set



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BNP Paribas Group Chief Economist Isabelle Mateos Y Lago discusses the US economic situation as Federal Reserve prepares to deliver its interest-rate decision this week. “I think it makes sense for the Fed to tilt a little bit its posture towards paying attention to employment, but it’s not as if it can take its eyes away from the inflation ball,” she tells Bloomberg Television. (Source: Bloomberg)



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