Joe Biden/Demonstrators outside the White House.
Biden pardons thousands of cannabis smokers
Joe Biden has pardoned thousands of people convicted of possession and personal use of cannabis, AP reports.
- Too many lives have been lost because of our failed approach to marijuana. It is time we correct those mistakes, says Joe Biden, who also encourages local authorities to make similar decisions.
During his 2020 presidential campaign, Biden said he wanted to see automatic reversals of cannabis convictions.
*********************************
FED VS INFLATION
Biden on inflation figures: "A significant milestone"
US President Joe Biden describes Friday's inflation figures as "a significant milestone" in the fight against price increases, writes the Financial Times.
- When we now enter the holidays, we do so with falling prices for important goods such as petrol, milk, toys, appliances, electronics, rental cars and plane tickets, he says.
Capital Economics expects that interest rates "will be cut significantly next year".
- There is increasing evidence that the post-pandemic inflation scare is over, says economist Andrew Hunter.
***********************************
US inflation drops - giving hope of soft landing
US inflation slowed from 3.4 percent in October to 3.2 percent in November, according to the Fed's key measure of core PCE. An annual rate of 3.3 percent was expected, writes Trading Economics.
The standard PCE index, which includes food and energy prices, unexpectedly fell 0.1 percent on a monthly basis. It is the first decline since July 2022. The PCE index is an indicator of the price increase for all private consumption in the United States.
Alongside inflation, private consumption in the US increased by 0.2 percent compared to the previous month. Bloomberg writes that the new macro figures together strengthen the thesis of a soft landing for the economy.
Inflation is approaching the Fed's two percent target
Inga kommentarer:
Skicka en kommentar