July 14, 2023
United States:
Fed’s Goolsbee Says Latest Inflation Data Promising, But Still High
Federal Reserve Bank of Chicago President Austan Goolsbee said recent consumer-price data showing inflation easing was “promising,” though inflation is still higher than policymakers’ 2% goal.
“It’s at least promising that this week we got inflation numbers that show inflation is coming down at a pretty rapid clip,” Goolsbee said Friday in an interview with Fox News. “It’s still higher than where we want it but it’s making progress.”
Europe:
European Stocks Eye Best Week Since March as Earnings Kick Off
European stocks are set for the biggest weekly advance since March on rising bets that the Federal Reserve’s monetary tightening cycle is nearing an end, while the start of a challenging earnings season poses a threat to the rally in the second half of the year.
The Stoxx Europe 600 Index was 0.2% higher by 2:07 p.m. in London, poised for a weekly gain of about 3%. Financial services and health care outperformed, while chemicals, energy and miners were laggards. The first batch of earnings results from big Wall Street banks broadly underscored the economy’s resilience.
Asia:
China’s Central Bank Signals More Policy Support for Economy
The People’s Bank of China hinted at more policy support for the economy, while also urging patience for the recovery to take hold.
Top central bank officials said they have enough room to ease monetary policy if needed and hinted at possible adjustments to the reserve requirement ratio for banks and further targeted easing of property controls.
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