USTR Tai: China’s Trade Practices At Odds with WTO Pledges
By Eric Ham WASHINGTON (MaceNews) – US Trade Representative Katherine Tai Wednesday admonished China for pursuing an aggressive state-led industrial policy at odds with market-oriented trade norms. “China has not moved to embrace the market-oriented principles on which the WTO and its rules are based, despite the representations that it made when it joined 20 […]
Pres Biden: Haven’t Verified Any Russia Withdrawal; GOP Prepares Sanctions Bill
By Eric Ham WASHINGTON (MaceNews) – President Biden Tuesday said he has not verified Russia claims it is withdrawing some forces from nearby Ukraine as Republicans prepare their own sanctions legislation. In a brief statement delivered as U.S. stocks were posting gains on the possibility of a Russian drawdown, the president tempered the optimism with […]
Italy’s Democrats Recover Lost Ground, Lead Polls but in Tie with Former Fascist Party – Sources
By Silvia Marchetti ROME (MaceNews) – After a deep crisis and loss of support that lasted more than four years, Italy’s Democratic Party is leading polls with a higher chance of winning next year’s general vote and putting it in position to push through key reforms, said party officials. Still, polls show a tie with […]
Reports: Canada’s PM Trudeau Weighs Using Emergency Act to Clear Trucker Blockades
(MaceNews) – Canadian Prime Minister Justin Trudeau is considering using the Emergency Act, which would limit civil liberties and give the federal government temporary powers to help end blockades at US borders by truckers protesting Covid mandates, news reports said. Trudeau told his Liberal Party caucus on Monday he would invoke the never-before-used Emergencies Act […]
Future of US Inflation Depends on Shelter Costs Flywheel
By Denny Gulino WASHINGTON (MaceNews) – Last month’s strong rate of increase in consumer prices reported Wednesday was the same, and for some major categories less, than in the previous month, suggesting that mathematical base effects will force indicated inflation to decelerate later this year. Most significantly, shelter costs, that contribute a third of all […]
Japan Sentiment, Public Approval of Kishida Government Slip with Rapid Omicron Spread
–PM Kishida Under Pressure To Shore Up Voter Support Before Upper House Election This Year –Kishida Tackling Pandemic; His Long-Term Approach of Inclusive Policy Takes Time To Have Impact By Max Sato (MaceNews) – The Omicron storm in the new year is hurting business and consumer confidence as the government was forced to resume its […]
Update: Bank of Canada’s Macklem Sees Multiple Rate Hikes But Not on Autopilot
— Adds governor comments from news conference, background at bottom By Max Sato (MaceNews) – Bank of Canada Governor Tiff Macklem on Wednesday stressed that the bank’s latest view that domestic interest rates are “on a rising path” does not mean that the bank’s policymakers would automatically keep raising rates once they embark on tightening. […]
Updated Preview: Japan Q4 GDP Rebound Seen on Easing Supply Bottlenecks, Covid Lull
–Updates with latest consumption data in paras 6-7, government measures in para 17, ESP Forecast in paras 18-19, Watchers’ survey at bottom — Consumption, Capex, Net Export Gains Behind Expected Solid Q4 Growth — Q1 GDP Face Downside Risks As Omicron-Led Covid Spike Hurts Sentiment By Max Sato (MaceNews) – Japan’s gross domestic product for […]
Cleveland Fed’s Mester: Should Reduce Balance Sheet Soon, Faster Than Last Time
By Steven K. Beckner (MaceNews) – Expressing heightened concern about inflation, Cleveland Federal Reserve Bank President Loretta Mester called Wednesday for an early and relatively rapid firming of monetary policy. Mester, a voting member of the Fed’s policy making Federal Open Market Committee this year, said she favors starting to raise the federal funds in […]
Italy’s Center Right Coalition Is Falling to Pieces, Smaller Chance of Success in 2023 – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s center right coalition is crumbling to pieces following the presidential vote; it is now weaker and if it doesn’t quickly “recover” its chances of winning the 2023 elections are down to a minimum, according to party sources. The center right’s three allied parties – the League group of […]