NEWSLETTER
Thursday / September 29Sep 29
Tuesday / November 9
US CPI
The U.S. Department of Labor's Bureau of Statistics will release consumer price index data on Wednesday.
Meanwhile Americans' fears of inflation continued to rise in October, hitting a record high for the 12th consecutive month, according to a key poll by the Federal Reserve Bank of New York released Monday.
The median expectation is that the inflation rate will climb 5.4% a year later, the highest level since the benchmark was introduced in June 2013, according to the New York Fed's Survey of Consumer Expectations.
I see greater risks to the inflation outlook than last summer, Chicago Fed President Evans said on Monday. “Uncertainties about the outlook could cause the Fed to delay or push forward rate hikes,” Evans said.
Meanwhile Americans' fears of inflation continued to rise in October, hitting a record high for the 12th consecutive month, according to a key poll by the Federal Reserve Bank of New York released Monday.
The median expectation is that the inflation rate will climb 5.4% a year later, the highest level since the benchmark was introduced in June 2013, according to the New York Fed's Survey of Consumer Expectations.
I see greater risks to the inflation outlook than last summer, Chicago Fed President Evans said on Monday. “Uncertainties about the outlook could cause the Fed to delay or push forward rate hikes,” Evans said.
Inflation in Europe
European Union finance ministers agreed on Monday that the current rise in consumer prices will decline next year and that the high public debt created by the pandemic should be reduced in a way that does not harm economic growth.
Inflation in the 19 euro-sharing countries increased by 4.1% year-on-year last month, up from 3.4% in September. Ministers worry that the increase will fuel stronger wage growth, creating an inflationary spiral.
"While the increase in prices is largely due to temporary factors, this increase is more persistent than anticipated due to the strength of the recovery," the chairman of euro zone finance ministers Paschal Donohoe told a news conference.
"But we continue to expect their changing and lessening over 2022 and into 2023," he said after the ministerial discussions, echoing the views of the European Central Bank.
Inflation in the 19 euro-sharing countries increased by 4.1% year-on-year last month, up from 3.4% in September. Ministers worry that the increase will fuel stronger wage growth, creating an inflationary spiral.
"While the increase in prices is largely due to temporary factors, this increase is more persistent than anticipated due to the strength of the recovery," the chairman of euro zone finance ministers Paschal Donohoe told a news conference.
"But we continue to expect their changing and lessening over 2022 and into 2023," he said after the ministerial discussions, echoing the views of the European Central Bank.
Quarles out
Randal Quarles, vice-president for bank supervision at the US Federal Reserve, submitted his resignation on Monday to leave his post at the end of December.
The vice president of audit was created in 2010 to oversee banking, but remained vacant until Quarles was appointed by former President Donald Trump in 2017.
The vice president of audit was created in 2010 to oversee banking, but remained vacant until Quarles was appointed by former President Donald Trump in 2017.
