2021年12月15日星期三

Wednesday Briefing: Fed prepares to stiffen inflation response

Wednesday, December 15, 2021

by Linda Noakes

Sponsored by   Hitachi

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Here's what you need to know.

Investors batten down for the Fed, a judge rejects Trump's bid to keep his tax returns from Congress, and German police foil an 'anti-vaxxer murder plot'

Today's biggest stories

People wear protective face masks to enter a store as new New York State indoor masking mandates went into effect in New York City, December 14, 2021. REUTERS/Brendan McDermid

BUSINESS

The Federal Reserve is expected to announce that it is speeding up the end of its pandemic-era bond purchases and signal a turn to interest rate increases next year as a guard against surging inflation. As the U.S. economy closes in on the Fed's framework goals, we look at how policymakers will react.

British consumer price inflation surged to its highest in more than 10 years in November, jumping to 5.1% from October's 4.2%, in news likely to unsettle the Bank of England as it considers whether to raise interest rates tomorrow. We look back at how BoE Governor Andrew Bailey upset traders and set UK bond markets adrift last month.

China's factory output grew faster than expected in November, supported by stronger energy production and a moderation in sky-high materials costs, but new curbs to fight rising COVID-19 cases hit retailers in the world's second-largest economy.

German Chancellor Olaf Scholz said his government would make Europe's largest economy fit for the future by fostering investment in climate protection and digitalization, vowing no one would be left behind in this major transformation.

Sales at Zara-owner Inditex and rival H&M are back at pre-pandemic levels or better, as the world's top two fashion retailers ride a recovery in demand despite supply chain challenges.

U.S. House Select Committee on January 6 Chairman Representative Bennie Thompson speaks to reporters on Capitol Hill, December 13, 2021. REUTERS/Jonathan Ernst

U.S.

Former President Donald Trump's chief of staff, Mark Meadows, could face criminal prosecution for refusing to cooperate fully with a probe into the deadly attack on the Capitol, after the House of Representatives voted to hold him in contempt of Congress. We look at what's at stake for Trump allies.

A U.S. judge dismissed a bid by Trump to keep his tax returns from a House of Representatives committee, ruling that Congress' legislative interest outweighed any deference Trump should receive as a former president.

Congress approved raising the federal government's debt limit by $2.5 trillion, to about $31.4 trillion, sending the bill to President Joe Biden to sign and avert an unprecedented default.

White former Minneapolis police officer Derek Chauvin is expected to plead guilty today in a federal court in Minnesota to charges that he violated George Floyd's civil rights during the Black man's murder, reversing his not-guilty plea in September.

O.J. Simpson, the former football star and television personality who was tried and acquitted in the 1994 murder of his wife and her friend, won an early release from parole on a Nevada robbery conviction.


WORLD

A fire broke out in Hong Kong's World Trade Centre, trapping about 150 people on its roof, and 13 people were injured before firefighters put out the blaze. The 39-floor building is home to restaurants, offices and shops in the bustling Causeway Bay commercial and shopping district.

South Africa's High Court ordered former President Jacob Zuma to return to jail after setting aside the decision to release him on medical parole. The 79-year is serving a 15-month sentence for contempt of court, after he ignored instructions to participate in a corruption inquiry.

A minister defended the government's handling of Britain's COVID-19 pandemic but admitted it may have made some mistakes, a day after almost 100 Conservatives dealt a blow to Prime Minister Boris Johnson by voting against new curbs.

German police searched several locations in the eastern state of Saxony as part of an investigation into what they said was a plot to murder the state's prime minister, Michael Kretschmer, by anti-vaccination activists.

Lithuania's diplomatic delegation to China left the country, diplomatic sources said, amid worsening relations over Taiwan which opened a de facto embassy in Vilnius last month.

Quote of the day

"We've got one of the highest vaccination rates, which means we can fight this thing. We don't have to surrender to it"

Prime Minister Scott Morrison

Australia re-opens borders to non-citizens despite Omicron worries

Video of the day

Kentucky woman houses five families after tornado

Days after a tornado ripped through her town, Reina Guerra Perez is hosting 26 people in her home.

And finally…

Rave reviews may help 'Spider-Man' deliver holiday gift to theaters

The newest 'Spider-Man' movie adventure has won glowing reviews from film critics, and box office analysts predict the superhero spectacle will set pandemic-era sales records at cinemas this weekend.

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