Powell’s Stimulus Pivot, IMF’s Omicron Warning, British Rate Bets: Eco Day
(Bloomberg) -- Welcome to Monday, Asia. Here's the latest news and analysis from Bloomberg Economics to help you start the week.
- Jerome Powell's pivot toward a quicker withdrawal of stimulus paves the way for a more agile Fed in 2022
- Powell's small shift in language had major consequences
- U.S. job growth registered its smallest gain this year while the unemployment rate fell by more than forecast to 4.2%
- The winds of inflation in the U.S. strengthened further in November, keeping up tightening pressure on the Fed
- With the November jobs report confirming the Fed's assessment of a tight labor market, two factors could derail what is, according to Bloomberg Economics, a likely announcement for a faster taper at the Dec. 15 meeting
- The IMF sees “downside risks” to the global rebound it forecast and is concerned that new coronavirus variants may hinder the recovery
- Uncertainty surrounding the omicron variant is making some Bank of Japan officials see increased risk in ending or scaling back a Covid funding program
- The BoEs leading hawk said there could be advantages from waiting for more data on how omicron will impact the economy before raising rates, prompting investors to slash bets on a December hike
- Australia's central bank is likely to highlight the interval between building economic momentum and faster price gains, as well as renewed virus risks, in its final meeting of the year
- Goldman Sachs economists cut their forecasts for the U.S. economy
- Vietnam's central bank bought about $25 billion worth of U.S. dollars over the past two years, according to a deputy governor
- China's influence in Asia receded in the second year of the pandemic
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