International - Financial Times - Credit Squeeze

Employment declined and half of US districts noted weaker labour demand

OBR sounds alarm on special needs and sickness spending

Cap on national insurance relief set to raise £4.7bn in 2029-30 and £2.6bn in 2030-31

UK government decides to spend first and tax later

Martin Wolf and Paul Krugman take a measure of the US economy – and democracy

Europe’s biggest economy needs more structural reforms for return to growth over medium term

Also in today’s newsletter, crypto-hoarders dump tokens and Taiwan boosts defence spending

Central bank says ‘negative surprises’, including worries over Fed independence, could trigger market correction

The Eurozone’s former problem child is now borrowing more cheaply than much of the continent

Europe has nothing to offer and difficult decisions to make

Entrenched positions and consensus nature of UN climate talks slow down progress, says Corrêa do Lago

Americans are unhappy with the cost of living, with inflation higher than the month before the president retook office

Chancellor takes steps to cushion cost of living but is set to extend a ‘stealth tax’ by freezing personal tax thresholds

Consumer confidence drops to second-lowest level since pandemic as inflation lingers

Read the central bank’s November forecast from the FT’s Monetary Policy Radar team

Will the US or China abandon their current follies sooner?

Commission recommends Finland be placed under excessive deficit procedure but Italy looks set to exit

The Economics Show 🤜🤛 FT Alphaville

There is tension between the central bank’s inflation and maximum employment mandates

Also in today’s newsletter, Spotify prepares to raise US prices and the top timepieces of 2025