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White House advisers call inflation a global phenomenon

author:Finance

As of now (15:48 Beijing time) mini NASDAQ100 (E-MINI NASDAQ100) 03 contract down 37.25 points (0.24%); Mini S&P500 (E-MINI S&P500) 03 contract down 10.5 points (0.22%); mini Dow Jones (E-MINI DOW) 03 contract down 80 points (0.22%). Brian Dees, the White House's chief economic adviser and director of the National Economic Council, said Wednesday that the price increase was a "global phenomenon" linked to the coronavirus pandemic, referring to the latest data showing U.S. inflation at a nearly 40-year high. Diess added that the unique strength of the U.S. economic recovery puts the United States "in a position to face the challenges of price and cost head-on." He also said there had been "some welcome slowdown" in price increases in some areas, such as groceries, but the increases were still too high. The U.S. Consumer Price Index (CPI) rose 7 percent year-over-year in December, bringing U.S. inflation to its highest level since 1982, according to data released by the Labor Department on Wednesday. Analysts at international derivatives think tanks believe that it is difficult in the short term for the Fed's monetary policy to bring inflation back to 2% while maintaining the recovery of the overall economy.

This article originated from the international derivatives think tank

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