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Lagarde: 3 scenarios, the short-lived one is rules out. ECB chose measured adjustment. 3rd scenario would warrant forceful adjustment. You judge which scenario ECB chose.

While couched somewhat of a joke, it implies a warning that ECB could take 50 bps hikes.

Lagarde: "digital Euro will enhance Europe's digital autonomy"

ECB's Lagarde:
* services down
* manufacturing up, in part due to supply chain changes, defense
* unemployment historically low
* real wages erode
* demand down

WSJ is asking 16 economists about "the Future of Work and AI" --- nice try, but you'll get 16 wrong answers. I though it was settled that we should watch the Simpsons, or possibly South Park for a more useful crystal ball. 🤷‍♂️ wsj.com/tech/ai/econom…

WSJ has thought provoking article why teens take fewer summer jobs.
"For the affluent teenager, skipping the paycheck is genuine optimization. She trades the lifeguard chair for a research internship, science camp, an SAT tutor...the retreat steepest in exactly the most

A 'tax the rich' tax failed in San Francisco wsj.com/politics/elect…

In "Why I Am Not a Conservative" -- first published in 1960 -- FA Hayek explains why society is so divided today and has a path forward.

A worthy Sunday read: cato.org/sites/cato.org… x.com/AxelMerk/statu…