Overseas Headlines- November 12, 2021

November 12, 2021

United States:
Biden Team Debates Whether to Act Fast on Oil Prices or Wait

“The White House is debating whether to act immediately to try to lower U.S. energy prices or hold off on dramatic measures in the hope markets settle, as President Joe Biden’s concern about inflation runs up against climate, trade and foreign policy considerations. For several weeks, a small group of top Biden aides has discussed measures to bring down the cost of gasoline, according to people familiar with the matter. ”




Euro-Area Inflation Is Diverging the Most Since the Debt Crisis

“Inflation is soaring across the euro area, but it’s also diverging by the most in years in a further complication for the European Central Bank’s ongoing pandemic stimulus. How quickly consumer prices are rising depends on where you are inside the 19-member currency bloc. In Estonia, where energy costs are surging, the 2021 rate is forecast to be 4%; in Greece, where they’re regulated, it’s seen at just 0.1%.”




China’s Economic Data Expected to Show Further Signs of Weakness

“China’s economy likely continued to weaken across the board in October with little signs of bottoming out. A set of key economic data to be released Monday will be closely studied for signs that the slowdown is serious enough to prompt authorities to step up economic support. The weakness in the economy is coming from both the supply and demand sides, similar to when the economy was initially hit by the virus in early 2020.”



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