Fed to Start Rate Hikes With License to Turn Aggressive Later
“The Federal Reserve will this week begin a multi-month campaign to conquer inflation that could see Chair Jerome Powell moving even more aggressively after Russia’s war on Ukraine fanned prices further. Already pivoting to tightening monetary policy amid the fastest consumer price gains in four decades, Powell and colleagues now have to deal with the economic fallout of the war, which threatens to deliver the twin blows of weaker growth and even-quicker inflation.”
German Finance Chief Pushes for $2.2 Billion a Month Fuel Rebate
“German Finance Minister Christian Lindner threw his weight behind a proposal to ease the burden of surging gasoline prices on consumers and businesses with a temporary rebate that could cost the government as much as 2 billion euros ($2.2 billion) a month. Lindner said his Free Democratic Party on Monday backed a proposal for compensation on motor-fuel bills and it would now be discussed within the ruling coalition of the FDP, the Greens and Chancellor Olaf Scholz’s Social Democrats.”
India Inflation Quickens in February Amid Supply Snarls
“India’s headline inflation surged to an eight-month high in February on higher food prices, with the outlook set to worsen amid commodity-supply disruptions caused by Russia’s war in Ukraine. Consumer prices rose 6.1% last month from a year earlier, the Statistics Ministry said in a statement Monday. That’s faster than the median estimate for a 6% gain seen in a Bloomberg survey of economists and well above the upper end of the Reserve Bank of India’s inflation target band.”
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