Federal Reserve Chairman Jerome Powell said it was time to stop talking about inflation as “transient.” This wording, which was used until the press conference on November 3, has been abandoned, and the inflation alertness has become even clearer.Not only US stocks but also TurkeyRisk assets have fallen across the board up to Lira. Below are five news items to keep in mind as you start your day.
Is it tapering acceleration?
Powell said the strong US economy and high inflation may justify ending the asset purchase program earlier than planned next year. However, he said that a new mutant of the new coronavirus, “Omicron,” would pose a new risk to the outlook. Based on plans announced in early November, the Federal Open Market Committee (FOMC) expects to complete its asset purchase program in mid-2022, but will taper at its next regular meeting on December 14 and 15. May determine the acceleration of.
Confidence in the effect
A spokeswoman for the University of Oxford, UK, said, “Although multiple mutants have emerged in the past year, vaccines have maintained a high level of protective effect in terms of preventing aggravation.There is no evidence at this time that Omicron is an exception. ” Both the top German Biontech and existing vaccines have said they are likely to be effective in preventing aggravation. All Omicrons confirmed in Europe are so far asymptomatic or mild.
Inflation and the effects of corona
November US Consumers Announced by The Conference BoardThe confidence index was 109.5, the lowest level in nine months. Higher inflation and the spread of the new corona have weakened consumer perceptions of the economy. The status index has been at its lowest level since April, and the expected index has also declined. The percentage of respondents who answered that they had abundant jobs reached a record high of 58%. On the other hand, optimism about income and employment for the next six months has both weakened. The number of respondents who have plans to purchase homes, automobiles, and major home appliances also declined.
Aim for listing early next year
Indian e-commerce companySnapdeal plans to submit a preliminary document within a few weeks, aiming for an initial public offering (IPO) of up to $ 250 million in the country. Officials have revealed. SoftBank Group and Alibaba Group have invested in Snapdeal. Snapdeal is aiming for a listing in early 2022, the people said. It plans to raise at least $ 200 million with a corporate value of $ 1.5 billion.
Don’t cross the “red line”
RussianPresident Putin warned Western nations not to cross the “red line” over security issues. If Russia invades Ukraine, the United States and Britain have stated that it will lead to diplomatic and economic responses. Putin said Moscow would be at risk of an attack in as little as five minutes if Western military infrastructure expanded to Ukraine and “supersonic weapons were deployed.” “When that happens, we have to make something similar to what threatens us, and that’s already possible,” he said.
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