United States:
Fed Lists Six Reasons in Arguing Inflation Surge Will Pass
“While much of Wall Street is ringing alarms about out-of-control inflation, Federal Reserve Chair Jerome Powell and his colleagues are expressing confidence in a more benign outlook. Acceleration in U.S. price growth this year will have “only transitory effects on underlying inflation,” Fed Vice Chair Richard Clarida said Wednesday.”
Europe:
U.K. Estate Agents Plead for More Supply as Housing Boom Rages
“U.K. house prices marched higher again in April as rising demand and a dearth of properties for sale added fuel to a booming market. In a report published Thursday, the Royal Institution of Chartered Surveyors said a lack of new listings was now the biggest concern as demand for property increased in every region of the country. That’s stoking prices in a market already buoyed by a temporary tax cut and lockdown-inspired searches for extra space. Real-estate agents expect prices to keep rising over the next year.”
Asia:
Japan’s Topix Three-Day Slump Hasn’t Prompted BOJ to Step In
“Japan’s Topix index just posted its biggest three-day loss since June last year. Yet the Bank of Japan, which has for over a decade helped to prop up the country’s stock market, seems unmoved, leaving investors a little baffled. When local shares were trading at multi-year highs earlier in 2021, the central bank scrapped an annual 6 trillion yen ($54.8 billion) target for purchases of exchange-traded funds, highlighting instead that it would prefer to buy “during times of heightened market instability.”
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