Overseas Headlines – May 18, 2022

United States:

US Consumers Power On, Though Borrowing Pickup Highlights Risk

“US economic data and earnings from two retail bellwethers indicated American consumers are spending with plenty of gusto, though cracks in the foundation of the economy are starting to form.”



Britain’s Inflation Rate Surges to a 40-Year High of 9%

“UK inflation rose to its highest level since Margaret Thatcher was prime minister 40 years ago, adding to pressure for action from the government and central bank.”



China Says Senior Central Bank Official Under Investigation

“A former senior official from the Chinese central bank is under investigation for “suspected serious violation of laws and discipline,” the Communist Party’s anti-graft watchdog said.”




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