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Economy
All the latest in government, politics, markets, policies, global events and broader trends that are impacting your money.
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Markets predict 40 bp rate hike in June
The RBA is expected to lift rates by 40 basis points in June as the employment market continues to tighten.
Unemployment falls to lowest level since 1974
The latest labour force data from the ABS has revealed a fall in unemployment during April
Latest wages data suggests a June rate rise of 25 bps
The Australian Bureau of Statistics has released the latest wage price index.
RBA says it contemplated a 40 bp hike in May
The RBA considered a 40-basis point rate hike at its May meeting.
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The bank made the claim ahead of two important pieces of data being released this week.
" ["fulltext"]=> string(3698) "Economists from the Commonwealth Bank (CBA) have suggested that another larger than expected rate rise by the Reserve Bank (RBA) in June may result in unnecessary angst among households.
CBA issued the warning ahead of the release of the first quarter wage price index on Wednesday and April labour force data on Thursday, both of which are considered critical to the next interest rate decision.
According to the bank’s latest forecasts, wages are expected to have increased by 0.8 per cent during the first quarter for an annual rise of 2.5 per cent, while the unemployment rate is expected to have dipped to 3.9 per cent.
These forecasts align with CBA’s prediction of a 25-basis point rate rise in June.
However, the bank noted that a larger than anticipated lift in wages or a more significant fall in unemployment would increase the risk of a 40-basis point rise at the RBA’s next board meeting.
“Such a move could be justified by the RBA as the data would be stronger than their recently released forecasts and a 40-basis point hike would take the cash rate to 0.75 per cent; a more ‘orthodox’ rate,” said CBA head of Australian economics Gareth Aird.
“Notwithstanding, a rate hike of more than 25 basis points at the June board meeting would put unnecessary angst into a household sector that is already quite concerned about the economic outlook, in part because of the expectation of higher rates.”
In addition to the predicted lift of 25 basis points in June, CBA expects further hikes of 25 basis points in July, August and November that would bring the cash rate to 1.35 per cent by the end of the year.
Another rise of 25 basis points is forecasted for February next year, with the cash rate then expected to remain at 1.60 per cent throughout 2023.
“A rate hike larger than 25 basis points in June accelerates the RBA’s timeline of normalising the cash rate. But it risks putting undue angst into a household sector where consumer confidence is brittle,” said Mr Aird.
“Indeed consumer sentiment has never been this low at the beginning of an RBA tightening cycle – it is currently well below average levels while at the beginning of previous rate hike cycles confidence was well above average levels.
“Given RBA governor [Philip] Lowe flagged 25-basis point moves as ‘business as usual’ last week, anything larger than a 25-basis point rate hike at any particular monthly board meeting could genuinely alarm borrowers.”
Mr Aird argued that slightly stronger than anticipated outcomes on wages and unemployment this week should not be a cause for concern and be used to justify a lift of 40 basis points.
He also noted that the RBA’s May rate decision had caught almost every analyst off guard, taking the cash rate to an unconventional level of 0.35 per cent.
“A tightening cycle from here that is based on orthodox increases in the cash rate of 25 basis points (or even 50 basis points at a particular meeting) would see the cash rate target at any given point sitting at an ‘unorthodox’ level,” he explained.
“As such, markets will be aware that the RBA could deliver a 40-basis point hike at any particular meeting if the board sought to reset the cash rate target to a more conventional metric. Such a move would likely need a key piece (or pieces) of economic information to support the case for a larger than 25-basis point increase in the cash rate.”
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The bank made the claim ahead of two important pieces of data being released this week.
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"full-employment-should-be-a-national-priority-grattan-institute-says" ["introtext"]=> string(245) "The notion of eradicating unemployment has long been considered unattainable within modern industrialised societies; one of Australia’s leading independent think tanks feels the goal of ‘full employment’ isn’t such a long shot.
" ["fulltext"]=> string(3666) "In a new report from the Grattan Institute, ‘No one left behind: Why Australia should lock in full employment’, it’s argued that full employment should be a “national priority”.
According to the report, full employment occurs when the supply and demand for labour are balanced – “when all of the available pool of labour is used to produce the goods and services that people want to buy”.
With the report coming off the back of a steady stream of complex economic woes such as the pandemic, soaring inflation and the cost of living, the Reserve Bank of Australia (RBA) has been tasked with alleviating the problems with interest rate hikes, which come with their own set of economic risks.
And with the post-COVID recovery leading to a historically low unemployment rate of only 4 per cent, the Grattan Institute’s calls for full employment may inch closer to reality if ideal economic conditions are nurtured.
“Heading into the pandemic, economists feared the worst. Two years later, the state of the labour market is surely better than any had dreamed. The recovery has been much faster than any previous downturn,” the report said.
“Unemployment had fallen to 4 per cent by early 2022, a rate not seen since just before the GFC, or before that, nearly 50 years ago.”
Under-employment has also fallen, from about 8.5 per cent before COVID to 6.3 per cent in early 2022.
“Yet wage growth has been slow to pick up, so far only returning to pre-pandemic rates.”
It also said estimates of the Non-Accelerating Inflation Rate of Unemployment (NAIRU) have been revised lower still.
The report illustrated that the recovery will benefit all households through higher wage growth and stable employment.
“But achieving full employment helps vulnerable workers the most, including younger, and lower-income Australians with fewer skills,” the report said.
“Putting these workers in stable jobs could help to reverse the recent trend towards rising inequality in Australia. A rapid return to full employment after a recession also avoids the long-term scarring effects that permanently reduce living standards.”
But the report also warned that full employment isn’t always a benefit to the economy, noting that “we can have too much of a good thing”.
“When the labour market is overly tight, demand will outstrip the supply of goods and services, generating inflation. When inflation exceeds wage growth, this will erode people’s standard of living by reducing the amount they can buy. Poorer households tend to be hit harder by inflation,” the report said.
Throwing in some metaphorical analysis, the report said “a little bit of inflation can ‘grease the wheels’, but too much can throw ‘sand in the gears’”.
“History is littered with examples of policy failures that allowed inflation to spiral – from the hyperinflation of the German Weimar Republic during the early 1920s to the ‘stagflation’ of the 1970s across many advanced economies – with dire consequences.”
Hoping to catch the eye of whichever major party is able to form government after the upcoming May 2022 federal election, this isn’t the first controversial recommendation the Grattan Institute has put towards the Commonwealth.
Previously in 2014, the Grattan Institute called on the newly elected Abbott government to lift the age at which people would qualify for age pension and superannuation, calling it the “most important economic and budgetary reform of our time”.
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The notion of eradicating unemployment has long been considered unattainable within modern industrialised societies; one of Australia’s leading independent think tanks feels the goal of ‘full employment’ isn’t such a long shot.
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Coalition government has pledged it will use a potential fourth term to nurture conditions within Australia’s technology sector to encourage more female workers to take up tech jobs.
" ["fulltext"]=> string(3116) "With statistics indicating an overwhelming male dominance in the tech sector, with current estimates putting female occupancy at only 2 to 29 per cent, the Coalition has pledged to collaborate with the industry to bolster female participation to at least 40 per cent by 2030.
It’s an ambitious plan from the Morrison government, coming off the back of the recent 2022-23 annual budget where it pledged $3.9 million to help women make a mid-career transition into the tech workforce.
The budget also expanded the Future Female Entrepreneurs Program and offered small businesses tax incentives to upskill and train their employees through the Skills and Training Boost, valued at $550 million.
Should the government win the election, it announced the establishment of a new ‘Tech Workforce Roundtable’, intended to unite the government with industry and education sectors to boost Australia’s efforts to grow the tech workforce and meet the growing digital skills demand.
Minister for the Digital Economy and Women’s Economic Security, Senator Jane Hume, said the Digital Economy Strategy is a key part of the Coalition’s plan to create 1.3 million jobs over the next five years, including 450,000 jobs in regional Australia.
“Every business is now a digital business, which is why our plan for the digital economy is such an important part of our plan for a strong economy,” Senator Hume said.
Promoting the government’s track record, Senator Hume said the new target for women in the tech workforce builds on the government’s record of increasing female workforce participation to “record highs and narrowing the gender pay gap to record lows”.
“Australians from all walks of life are taking up tech jobs and we want to see more Australian women involved in this rapidly growing and well-paid part of the workforce,” Senator Hume said.
The Tech Workforce Roundtable will be jointly chaired by the Ministers for the Digital Economy and Skills, with the aim of holding the first meeting soon after the election. The Tech Council, the National Skills Commissioner, Digital Skills Organisation and other participants drawn from industry and education sectors will be invited to join.
Earlier this year, industry peak body the Technology Council of Australia applauded the government’s initial budget announcement with the chief executive officer Kate Pounder citing the body’s own research which suggested that women are most likely to enter tech jobs between the age of 25 and 30 years old.
“This initiative represents an important initial contribution to help more women make that transition, given only one in four tech workers are women,” Ms Pounder said.
“Getting more women into tech jobs is a great deal for women as tech jobs are amongst the best paid, most secure and most flexible in the country. The gender pay gap is also half that of other high-paying jobs.”
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As the electoral clock ticks to the 21 May federal election, the Coalition government has pledged it will use a potential fourth term to nurture conditions within Australia’s technology sector to encourage more female workers to take up tech jobs.
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Musk “holds all the cards” when it comes to his impending purchase of social media giant Twitter and believes he is in a powerful position to renegotiate a significantly reduced price.
" ["fulltext"]=> string(3182) "Forensic financial research firm Hindenburg Research believes that Mr Musk presently occupies such a disproportionately strong position at the Twitter negotiating table, so much so that if he were to walk away today, the consequences would entirely fall on Twitter and that’s despite the US$1 billion breakup fee Mr Musk would need to pay.
“We believe that if Elon Musk’s bid for Twitter disappeared tomorrow, Twitter’s equity would fall by 50 per cent from current levels,” Hindenburg Research said in a statement.
According to the research firm, the stage for this power imbalance was set after Mr Musk initially purchased a 9.2 per cent stake in Twitter, followed by his offer to buy the company in its entirety, which provoked its panicked board to examine other options, including other offers.
But this turned out to be a dead-end for Twitter because “better competing funds failed to materialise”, which forced it to accept Mr Musk’s $44 billion bid.
“Since the day before Musk disclosed his initial stake in Twitter, multiple developments have weakened the company’s position, threatening the current deal dynamic,” Hindenburg Research said.
Among these developments is a broad meltdown in tech stocks and Twitter’s weak quarterly financials.
Hindenburg Research explained that Twitter’s recently reported performance represents further downside that hasn’t been priced into the stock. The social media company also admitted to overstating its daily active user count just four months after its $809 million securities fraud settlement over a similar issue.
“We suspect that Twitter continues to overstate its true daily active users, despite the revision. As indicated by Musk, the platform is flooded with bots, spam, and scam accounts that likely inflate its genuine user metrics even further,” the researcher said.
But Twitter’s turmoil does not end there. Hindenburg Research believes that Twitter’s precarious position has bolstered Mr Musk’s leverage in potentially making a new and reduced offer that Twitter may have no choice but to accept.
“Consequently, we see a significant risk that the deal gets repriced lower,” Hindenburg Research said.
This speculative remark didn’t go unnoticed by Tesla’s founder, who responded cryptically to Hindenburg Research in a post on Twitter reading “Interesting. Don’t forget to look on the bright side of life sometimes!”
Moreover, Hindenburg Research pointed to the “undue pressure” placed on Tesla with Musk already opting to sell US$8.4 billion in Tesla shares to help raise capital for his Twitter bid, which contributed to Tesla falling 12 per cent during the day’s trading session.
“A lower deal price with less excessive leverage will place both Twitter and Tesla on more solid financial footing,” the researcher said.
And with Musk having already made it clear to Twitter’s board that should the deal not consummate he will sell his shares, the researcher believes the social media giant’s stock is due to be re-rated significantly lower.
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A researcher has warned that Elon Musk “holds all the cards” when it comes to his impending purchase of social media giant Twitter and believes he is in a powerful position to renegotiate a significantly reduced price.
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response to a tight labour market to become the primary driver of inflation.
" ["fulltext"]=> string(3633) "The Reserve Bank of Australia (RBA) has made significant updates to its CPI forecast after March quarter inflation climbed to levels not seen since the introduction of the GST in 2001.
The RBA now expects the consumer price index to peak at 6 per cent at the end of the year, compared to 3.25 per cent it projected in February, before beginning its descent into more comfortable territory.
According to the central bank’s latest statement on monetary policy, CPI should subside to 4.25 per cent by June 2023, before reaching 3.25 at the end of the year.
Underlying inflation – the bank’s preferred measure - is forecasted to increase to around 4.75 per cent in the second half of 2022 before easing back towards the top of the inflation.
Acknowledging the “substantial” revision of the forecast profile for underlying inflation, the RBA said that the impact of the war in Ukraine and renewed lockdowns in parts of China have played a major part.
“The effects of these cost increases on consumer prices have also broadened over recent months. A significant share of firms in the Bank's liaison program have increased prices or expect to increase their prices over coming months as a result of the sustained rise in input costs,” the RBA said.
The RBA has based its forecasts on some technical assumptions, including the expectation that the cash rate will reach 1.75 per cent in the December quarter of 2022 and 2.5 per cent at the end of next year.
Unemployment, it noted, is expected to contract to 3.75 per cent in December before tightening further to 3.5 per cent, where it is predicted to remain for the long term.
The RBA noted that while the impacts of Ukraine are expected to subside, later in the forecast period the main contributor to inflation is expected to be the increase in labour costs resulting from a tight labour market.
“Higher labour costs in response to a tight labour market are expected to become the primary driver of inflation outcomes later in the forecast period,” the bank said, outlining wages growth of 3.75 per cent by mid-2024.
Other key sources of uncertainty include the future evolution of COVID-19, changes in price and wage-setting behaviour at historically low levels of unemployment, and the response of households, firms and asset prices to higher inflation and interest rates.
Last week, the RBA chose to lift the cash rate from a record low 0.1 per cent to 0.35 per cent in its first rate hike in over a decade.
"The board judged that now was the right time to begin withdrawing some of the extraordinary monetary support that was put in place to help the Australian economy during the pandemic," governor Philip Lowe said in the bank's post-meeting statement.
"The economy has proven to be resilient and inflation has picked up more quickly, and to a higher level, than [what] was expected. There is also evidence that wages growth is picking up. Given this, and the very low level of interest rates, it is appropriate to start the process of normalising monetary conditions," he added.
Commenting on the RBA’s bold move, GSFM investment strategist Stephen Miller said the central bank has “has done a lot to consolidate its inflation credentials and preserve the appearance of independence”.
Currently financial markets are pricing a policy rate of close to 2.5 per cent by year-end.
And while Mr Miller acknowledged that these forecasts appear excessive, he noted they’re “within the realm of plausibility”.
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The RBA expects higher labour costs in response to a tight labour market to become the primary driver of inflation.
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fight inflation; the single highest increase since May 2000.
" ["fulltext"]=> string(3005) "The Fed is targeting interest rates in a range between 0.75 per cent and 1.00 per cent and has indicated that 50bp hikes are the baseline for June and July meetings.
In a statement released with the hike announcement, the Fed noted overall economic activity is down in the first quarter, however household spending, business fixed investment and job gains have been strong.
However, it added that the Russia and Ukraine conflict is “causing tremendous human and economic hardship” which could result in “highly uncertain” implications for the US economy.
“In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook,” the statement read.
“In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals.”
T. Rowe Price US economist Blerina Uruci said she believes the Fed’s “difficult balancing act” has not changed as the upside risks to inflation from high commodity prices remain in place.
“Similarly, the headwinds to activity have not changed — tighter fiscal policy, high inflation eating into real household disposable incomes and sharply higher interest rates raising borrowing costs for businesses and consumers,” Ms Uruci said.
“Given the already high rate of inflation and the recent strong data, I think that the Fed may continue to tighten ‘expeditiously’ until downside risks to activity materialize, and they start to put downside pressure on inflation.
“I expect these risks will likely continue to frame FOMC discussions during the coming months as it also considers its chances of engineering a soft landing.”
Earlier this year, the Fed kicked off its hiking cycle with a quarter-point increase – the first since 2018.
While economists did expect this decision, what surprised was the Fed’s stated goal to get the fed funds rate to 2.8 per cent by the end of 2023.
According to Ben Powell, APAC chief investment strategist at BlackRock, “this level is in the territory of destroying growth and employment”.
The move comes only days after the Reserve Bank of Australia (RBA) chose to lift the cash rate from a record low 0.1 per cent to 0.35 per cent in its first rate hike in over a decade.
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The Federal Reserve has raised its benchmark interest rate by 0.5 per cent in a bid to fight inflation; the single highest increase since May 2000.
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"Second article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [9]=> object(stdClass)#7903 (32) { ["id"]=> string(1) "9" ["title"]=> string(17) "Third article URL" ["name"]=> string(17) "third-article-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-07-08 05:42:42" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7671 (3) { ["data":protected]=> object(stdClass)#7674 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7673 (3) { ["data":protected]=> object(stdClass)#7676 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(17) "Third article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [4]=> object(stdClass)#7907 (32) { ["id"]=> string(1) "4" ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "1" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7675 (3) { ["data":protected]=> object(stdClass)#7678 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7677 (3) { ["data":protected]=> object(stdClass)#7680 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(9) "Video URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [6]=> object(stdClass)#7898 (32) { ["id"]=> string(1) "6" ["title"]=> string(33) "Image Caption / Video description" ["name"]=> string(31) "image-caption-video-description" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 16:29:55" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "2" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7679 (3) { ["data":protected]=> object(stdClass)#7682 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7681 (3) { ["data":protected]=> object(stdClass)#7684 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(33) "Image Caption / Video description" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [3]=> object(stdClass)#7899 (32) { ["id"]=> string(1) "3" ["title"]=> string(6) "Status" ["name"]=> string(6) "status" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:45:26" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "3" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7683 (3) { ["data":protected]=> object(stdClass)#7689 (1) { ["options"]=> object(stdClass)#7687 (2) { ["options0"]=> object(stdClass)#7686 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#7688 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7685 (3) { ["data":protected]=> object(stdClass)#7691 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#7912 (32) { ["id"]=> string(1) "5" ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "4" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7690 (3) { ["data":protected]=> object(stdClass)#7693 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7692 (3) { ["data":protected]=> object(stdClass)#7695 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(22) " Essential information" ["description"]=> string(35) "3 points that summarize the article" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#7913 (32) { ["id"]=> string(1) "2" ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "5" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7694 (3) { ["data":protected]=> object(stdClass)#7697 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7696 (3) { ["data":protected]=> object(stdClass)#7699 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(66) "/invest-money/economy/fed-gears-to-fight-inflation-with-50bp-hikes" ["image"]=> string(26) "images/21675_transform.jpg" ["image_alt"]=> string(45) "Fed gears to fight inflation with 50bp hikes " } }
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