United States:
Biden Warms to Fast-Track Stimulus After Liberal Pressure Mounts
“President Joe Biden and White House officials are siding with liberal Democrats stung by past efforts to reach compromise with Republicans and refusing to heed GOP appeals to scale back the administration’s $1.9 trillion stimulus. Biden entered talks last week with a group of Republican senators who proposed a bill just one-third the size of his pandemic-relief package. They were the first lawmakers he invited to the White House as president, raising concern on the left he might seriously entertain their counter-proposal.”
Europe:
U.K. Stands Out With Signals of Slowdown in OECD Gauge
“The U.K. stands out as the sole Group-of-Seven economy where the OECD’s Composite Leading Indicators still point to a slowdown. The measure, which the organization says is designed to anticipate turning points six to nine months before they happen, also showed a steady increase in the outlooks for Brazil, China and India. The figures should be interpreted with care as underlying components are influenced by changing measures to contain Covid-19 and vaccination campaigns, the OECD said”
Asia:
Japan Wages Down Most Since 2015 as Winter Bonuses Slide
“Japanese wages fell in December for a ninth straight month, declining the most since June 2015, as employers remained fearful of the profit outlook amid a global resurgence of the coronavirus. Labor cash earnings slid 3.2% from a year earlier, weighed down by a drop in year-end bonuses, labor ministry data showed Tuesday. Economists had predicted a bigger overall fall of 4.8% that would have been the worst reading since the 2009 financial crisis.”
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