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 ...