The Monday Mix: Jan. 10 – 16, 2022

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US inflation accelerated to 7% annualized rate in Dec., the highest level since 1982; Fed Chair Jerome Powell said the central bank is committed to fighting inflation by raising interest rates and ending monthly bond purchases.

China unexpectedly cut its key interest rate, the first drop since the pandemic began, as its economy slows due to regulatory reform, real estate concerns and resurgence of Covid-19.

There were 19% fewer US homes for sale in Dec. 2021 than Dec. 2020, and sales were down 11% from a year ago on limited inventory and record high prices.

US consumer sentiment fell to 10-year low (68.6 on a key index), on worries about inflation and the Omicron variant of Covid.

Oil and gas prices in Europe rose 5.3% and 8.8%, respectively, last week as the intensifying Ukraine-Russia tensions sparked supply shortage concerns.

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