Overseas Headlines: March 23, 2021

United States:

Fed’s Barkin Sees Strong Economy, Not Near Tapering Assets

“The U.S. economy is set for a strong 2021 as the pandemic recedes that will push up prices, but there’s no sign yet that this will deliver unwanted inflation or a need to adjust monetary policy, said Federal Reserve Bank of Richmond President Thomas Barkin. “We are going to see an extremely strong year and I think that strong year is going to lead to price pressures.,” Barkin said Sunday in an interview on Bloomberg Television with Kathleen Hays. “I want to emphasize inflation is not a one-year phenomenon it’s a multi-year phenomenon.”



ECB Boosts Bond-Buying After Pledge to Fight Yield Gains

“The European Central Bank finally delivered on its promise to boost the pace of emergency bond-buying to combat the economic threat from higher yields. Net purchases settled last week climbed by 21.1 billion euros ($25.2 billion), the most since the start of December. That figure is reduced by redemptions — the gross value of purchases will be disclosed on Tuesday.”



China’s Economic Growth Could Exceed Target, Premier Li Says

“China’s economic growth this year could exceed a target of “above 6%,” with the government seeking stable expansion and job creation, Premier Li Keqiang said Monday in a meeting with foreign business executives. “We need to seek a balance between growth, income, and employment, and we cannot pursue economic growth based on high energy consumption and heavy pollution,” Li said, according to a statement from the State Council. China needs growth in employment and income, and will have to work more on boosting domestic demand and consumption, he said.”




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