Faster Fed Taper, Lockdown Pushback, Trade Chokepoints: Eco Day
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Welcome to Thursday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- Federal Reserve officials at their last meeting were open to removing policy support at a faster pace to keep inflation in check, while revisions to the Fed’s preferred price gauge suggest inflation has been running hotter than realized, building the case for a faster taper, Bloomberg Economics says
- Olaf Scholz’s Social Democrats won the right to nominate the successor to Bundesbank President Jens Weidmann as part of their coalition accord with the Greens and Free Democrats, according to people familiar with the deal
- Spain’s economic revival may be stronger than the growth numbers show
- The Riksbank’s first hint about a possible interest-rate hike is likely to be revealed this week in an outlook confirming the Swedish central bank as still one of the most dovish among advanced economies
- France is shunning snap lockdown measures to preserve the country’s standout economic recovery
- Applications for U.S. state unemployment benefits plunged last week to a level not seen since 1969, which if sustained would mark a milestone in the labor market’s uneven recovery
- As expected, the Bank of Korea hiked the policy interest rate for the second time this year, and also signaled more hikes ahead
- Britons are taking longer overseas vacations as coronavirus travel curbs are relaxed
- Lower shipping volumes and rising prices are weighing on global trade ahead of the peak holiday season, according to the Bloomberg Trade Tracker
- China’s increasingly extreme Covid Zero policies on seafarers and vessels are prolonging the supply chain crisis
- Finally, check out this week’s Stephanomics podcast, with U.S. Special Presidential Envoy for Climate John Kerry talking about why the Glasgow pact matters
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