United States:
Fed Needs to Hike to Slow Inflation Without Recession, Credit Suisse Says
“The Federal Reserve needs to deliver a Volcker-style shock to drive down asset prices if it wants to slow inflation without causing a recession, according to Credit Suisse Group AG strategist Zoltan Pozsar. Policy makers should stoke volatility to set off corrections in assets including stocks, houses and Bitcoin, deterring early retirement and driving people into the workforce, Pozsar wrote in a note to clients.”
Europe:
ECB Shouldn’t ‘Overreact’ in Path to Normalization, De Cos Says
“The European Central Bank is moving closer to normalizing monetary policy but should do so carefully to avoid derailing the economy’s post-pandemic recovery, according to Governing Council member Pablo Hernandez de Cos.”
Asia:
Japan Export Gains Cool While Import Bill Rockets on Fuel Costs
“Japan’s export gains from a year earlier showed further signs of cooling in January as the omicron variant spread globally, while imports continued to show the higher cost pressures faced by companies and consumers. The value of Japan’s overseas shipments increased 9.6% from a year earlier, compared with a 17.5% increase the previous month, as export jumps in steel and chip components eased back and auto shipments fell, finance ministry data showed Thursday.”
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