U.K. Consumption, Fed Policy Tightening, China Pressure: Eco Day
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Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.
- U.K. retail sales jumped in December as consumers splashed out on Christmas items including clothes and jewelry, defying a surge in coronavirus infections
- Euro-zone monetary policy may be among the world’s most dovish, but the currency bloc is far ahead of the U.S. in phasing out pandemic stimulus
- Fed Chair Jerome Powell said the central bank will prevent higher inflation from becoming entrenched while cautioning that the post-pandemic economy might look different than the previous expansion
- JPMorgan CEO Jamie Dimon said the Fed may be able to control inflation without jarring the economy too heavily
- The Fed will again turn attention to balance-sheet normalization at upcoming meetings -- and this time will be different, according to Bloomberg Economics
- Inflation expectations among U.S. consumers held at a record high of 6% for the coming year in the latest consumer survey of the Federal Reserve Bank of New York
- Hong Kong’s omicron outbreak is dealing a double whammy to businesses
- Australian household spending jumped in November as a combination of the easing of virus lockdowns and pre-Christmas purchases boosted outlays
- China will accelerate investment and boost consumption to help stabilize economic growth amid renewed downward pressures
- China is rolling out its digital yuan to athletes and spectators ahead of the Beijing Winter Olympics
- The IMF appointed Pierre-Olivier Gourinchas to succeed Gita Gopinath
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