Jan 14, 2022
Fed Rate Hikes, Baltic Inflation, China’s Record Trade: Eco Day
Bloomberg News
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Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:
- Federal Reserve Governor Lael Brainard said interest rates could be raised as early as March to ensure price pressures are brought under control
- Fed Governor Christopher Waller said that three interest-rate increases this year was a “good baseline”
- President Joe Biden plans to nominate Sarah Bloom Raskin to be the Fed’s top banking regulator and economists Lisa Cook and Philip Jefferson to be governors
- The euro area’s newest recruits have no regrets about joining the currency bloc but are grappling with one of its major drawbacks
- China’s record-breaking export strength continued into December, pushing the annual trade surplus to a new high and providing support to an economy being dragged down by a property-market slump and sporadic Covid outbreaks
- China is likely to post its weakest economic growth in more than a year when it releases quarterly data Monday
- Omicron spells the worst case for holiday spending in China as the Lunar New Year approaches, Bloomberg Economics says
- The blow from omicron to U.S. activity to be fast and sharp, followed by an equally swift and strong rebound, Bloomberg Economics says
- Turkey’s newly appointed finance chief said the country’s inflation will peak months earlier and at a level far lower than predicted by top Wall Street banks
- Canada is joining Mexico in formally disputing how the U.S. interprets rules governing the origin of vehicle parts under the trilateral trade agreement between the countries
- Bank of Korea Governor Lee Ju-yeol signaled the likelihood of more interest rate increases to come following Friday’s hike
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