United States:
Fed Must Alter Habits of a Generation in Higher Inflation Quest
“The Federal Reserve’s new push for higher inflation means crafting new tactics that convince Americans it won’t clamp down on rising prices. For four decades, the Federal Reserve kept up its guard on inflation, beating it back even when it whispered a threat. Such vigilance won the battle but price pressures have since become too weak, depressing interest rates and making it harder for officials to fight recessions.”
Europe:
U.K. Job Cuts Set to Double Last Recession Peak in Coming Months
“The U.K. is on course for more than twice as many job losses in the coming months than in the recession following the financial crisis, underscoring the bleak outlook for the labor market. Around 450,000 roles look set to be terminated in the autumn, according to the Institute for Employment Studies. The analysis is based on notifications to the government’s Insolvency Service, which employers are legally required to file if they plan to cut at least 20 positions.”
Asia:
China’s Xi Looks to Firm Up Europe Ties in Talks With Merkel
“Chinese President Xi Jinping is set to hold talks with German Chancellor Angela Merkel and European leaders, as Beijing seeks to keep the continent from aligning more closely with the U.S. on disputes ranging from market access to human rights. The summit including European Commission President Ursula von der Leyen and European Council leader Charles Michel is slated to be held by video link Monday in an event scaled down amid the coronavirus pandemic. The meeting was originally intended to include representatives from all 27 European Union members in Leipzig to mark Germany’s six-month chairmanship of the EU Council.”
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