Get Ready for the Great U.S. Inflation Mirage of 2021
“The story of U.S. inflation in 2021 could very well amount to this: It’s all a mirage. Americans are likely to see prices jump across a variety of sectors next year, thanks in part to Covid-19 vaccines that will potentially turbocharge demand for such pandemic casualties as travel and tickets to sporting events. With prices also climbing for some inputs such as copper and lumber, inflation could very well reach or surpass the Federal Reserve’s 2% target in some months. Financial markets are increasingly pricing in higher inflation in coming years, and debates over whether the central bank should start easing back its record monetary stimulus may intensify.”
U.K. Says Talks Could Collapse in Next Few Hours: Brexit Update
“A British official warned that talks over a future trade deal with the European Union could collapse on Monday unless negotiators make progress in the next few hours. Prime Minister Boris Johnson is due to speak to European Commission President Ursula von der Leyen on Monday evening and that conversation will be a make-or-break moment, another U.K. official said”
Japan Set to Unveil $706 Billion Stimulus Package
Yoshihide Suga is set to unveil his first stimulus package as Japan’s prime minister on Tuesday amid an increase in virus cases and a dip in support for his cabinet that are an early test of his leadership. The measures put together by Suga’s government will have an overall value of 73.6 trillion yen ($707 billion), according to a final draft of the package obtained by Bloomberg.”
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