December 12, 2022
United States:
US Inflation Will Be Much Lower by End of 2023, Yellen Says
US Treasury Secretary Janet Yellen says inflation will be much lower by the end of next year, as long as there are no unanticipated shocks to the economy.
“I believe inflation will be lower,” Yellen said during an interview Sunday on CBS’ “60 Minutes.” “I am very hopeful that the labor market will remain quite healthy so that people can feel good about their finances and their personal economic situation.”
Europe:
New Front in ECB’s Inflation Battle to Bring Bargaining on Rates
The opening of a new front in the European Central Bank’s fight with runaway inflation will bring with it bargaining over the path for interest rates — resulting in a potentially smaller hike this week.
Alongside its decision on borrowing costs, the ECB is set to announce how it plans to unwind €5 trillion ($5.3 trillion) of bonds purchased during past stimulus pushes, adding more bite to the 200 basis points of rate increases to date.
Asia:
China’s Markets Are Primed for Extreme Volatility in 2023
When China’s securities regulator vowed to reduce market volatility in January, few predicted that this year would be one of the most turbulent in recent memory.
The drama has only increased this quarter, setting the scene for more upheaval in 2023.
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