Bloomberg Jerome Powell was an early adopter of the view that US unemployment could fall further than thought, but back then didn’t parlay that insight into a more dovish stance on interest rates. Transcripts of Fed meetings in 2014 showed then-governor and now-Chairman Powell was already among the most optimistic Fed officials about how many Americans could be drawn back …

Bloomberg Canadian Imperial Bank of Commerce hired former Conservative Party lawmaker Lisa Raitt as a vice-chair for global investment banking. Raitt joins CIBC on January 27 and will focus on developing and fostering senior-level client relationships and business development globally for CIBC’s capital markets division, the Toronto-based bank said in a statement. She’ll be based in Toronto. “Lisa’s experience leading …

Bloomberg The World Bank cut its forecast for Ethiopia’s economic growth in the 2020 fiscal year to 6.3%, well below the government’s projection. The National Bank of Ethiopia has forecast that gross domestic product growth would accelerate to 10.8% for the fiscal year ending in July, up from a 9% pace in fiscal 2019 as the government implements a blueprint …