Top-of-mind economic news as we start the week:
— Given persistent inflation, the Fed will start to rein in monetary stimulus — buying $30 billion fewer bonds each month (now $180 billion) and raise interest rates up to 3 times 2022.
— Japan remains an outlier in rising global inflation: the Bank of Japan is forecasting 0% inflation for the 12 months ending March 2022.
— US housing starts rose to the fastest pace in 8 months; builders are reducing backlogs caused by prolonged supply and labor shortages.
— South Africa reported lower rate of hospital admissions and deaths from the Omicron variant of Covid vs. from the Delta variant last winter.
— President Biden directed the federal government to achieve net zero emissions by 2050, including some 300,000 buildings and 600,000 vehicles.
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