Saturday 22 July 2017

Why the US interest rates hike will be good news for Irish exporters

Women pose for a photograph next to a homeless man outside Moynihan Station in New York. The US Federal Reserve has increased interest rates for the first time in almost a decade. Photo: Reuters
Women pose for a photograph next to a homeless man outside Moynihan Station in New York. The US Federal Reserve has increased interest rates for the first time in almost a decade. Photo: Reuters
Dan O'Brien

Dan O'Brien

The 21st century has been of two halves economically. Before the western world's financial mega bubble burst in 2007-08, things were much as they had been for decades - decent if unspectacular rates of growth in most countries, near continuous increases in the numbers at work and, when recessions struck, they were short and shallow.

Then came the Great Recession. The developed world has not returned to its past normality, nor even found a new normal.

Two big things illustrated that this week - employment in Europe and interest rates in America.

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