United States:
Fed Is More Worried by Inflation Running Too Cold Than Too Hot
“Federal Reserve officials are just as worried about an inflation rate that runs too cold as one that runs too hot. While rising prices are in the spotlight now as the economy reopens and demand surges, the longer-run trends that have suppressed costs globally could re-emerge as the pandemic ends, some policy makers warn. That would make it harder to deliver on their new strategy of running inflation above their 2% target for a time in order to achieve that goal over the longer run.”
Europe:
ECB’s Villeroy Sees Path to Crisis Exit Within Less Than a Year
“The European Central Bank could end its pandemic emergency program within less than a year while adapting its monetary policy tools to keep supporting the economy after the crisis, French Governor Francois Villeroy de Galhau said. “We could possibly exit PEPP by March 2022,” the Bank of France chief told Anna Edwards and Mark Cudmore in a Bloomberg Television interview on Wednesday. “It would not mean an abrupt tightening of our monetary policy, reinvestments under PEPP would go on. We could also have net asset purchases with our other program.”
Asia:
Korea Workers Need to Make Space for Robots, Minister Says
“South Koreans must learn how to work alongside machines if they want to thrive in a post-pandemic world where many jobs will be handled by artificial intelligence and robots, according to the country’s labor minister. “Automation and AI will change South Korea faster than other countries,” Minister of Employment and Labor Lee Jae-kap said in an interview Tuesday. “Not all jobs may be replaced by machines, but it’s important to learn ways to work well with machines through training.”
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