James Bullard, president of the St. Louis Fed, said that with inflation expected to be higher than the Fed's 2 per cent target, it might be appropriate to start raising interest rates next year. "I think it will start at the end of 2022," Bullard said in an interview with CNBC TV on Friday. "but you have to know that this has something to do with the projected state of the economy. My forecast is that core PCE inflation will be 3 per cent in 2021 and 2.5 per cent in 2022, and if the actual situation is as expected, it will have reached 2.5-3 per cent in two years by the end of 2022. " 

White House economic adviser Jared Bernstein said in CNN that he is still very convinced that the rise in inflation is temporary. In response to a question about whether he is now more concerned about inflation, Bernstein initially replied: "Yes, from a concern point of view, this is my view on this issue." You know, my job with this salary is to care about every economic variable. Bernstein later clarified that he was "as concerned" about inflation as before.

Ultra-conservative candidate Ebrahim Raisi won the Iranian presidential election by a landslide. The election result could put Tehran on a more hostile path towards the West as several global powers try to revive the Iran nuclear deal. While the election of the 60-year-old Muslim jurist may complicate efforts to revive the 2015 nuclear deal, it is not expected to lead to failure because of the support of Iran's supreme leader, Ayatollah Ali Khamenei. Ebrahim Raisi is seen as one of the favourites to succeed Ayatollah Ali Khamenei. 

The European Union has lifted travel restrictions on American residents, according to a statement from the European Council. EU finance ministers have approved the "whitelist" of the United States, where residents of countries on the list can travel to the European Union for unnecessary reasons. Albania, Lebanon, Republic of North Macedonia, Serbia, Hong Kong, Macao and Taiwan were also added to the list. The new rules will come into effect in a few days, waiting to be officially released in the European Union.

Us President Joe Biden held an event at the White House to celebrate 300 million doses of vaccination in his administration's 150 days in office, while urging unvaccinated Americans to hurry up and warn that highly contagious variants of the virus could lead to more deaths. "despite the incredible progress we have made, it remains a serious and deadly threat," Biden said. The data is clear: if you are not vaccinated, you are at risk of serious illness, death or transmission of the virus. " 

In the UK, the number of patients with the new coronavirus strain of the delta variant, which has a higher transmission rate, has nearly doubled within a week, and the number of hospitalizations has also increased. The number of laboratory confirmed and suspected delta infections rose to 75953 from 33630 the previous week, the English Public Health Authority said on Friday. As of Monday, the total number of hospitalizations infected with delta variants was 806, an increase of 423 from a week earlier. Of the 806 patients, 527 were not vaccinated and 84 received two injections of the vaccine.

BofA and Credit Suisse believe the UK will raise interest rates for the first time since the outbreak sooner than previously expected. The two banks had previously thought the Bank of England would not act until 2023, but are now expected to raise interest rates for the first time in the second and third quarters of next year, respectively. Earlier, UK inflation soared unexpectedly, breaking the bank's target of 2 per cent for the first time in nearly two years, while economic growth accelerated and more jobs were being created. The expectation reflects optimistic expectations of a rapid recovery after the UK economy suffered its worst recession in 300 years. 

The European Central Bank said it would extend a key epidemic relief measure for nine months to ensure that banks can continue to provide credit to the real economy hit hard by the epidemic. The central bank will bring about 70 billion euros ($83 billion) in capital relief to banks. The ECB said in a statement on Friday that it would allow banks to continue to exclude central bank deposits when calculating leverage until the end of March next year. For the 39 banks involved in the initiative, the move will increase the ratio by an average of 0.7 percentage points.

Risk Warning: The above content is for reference only, and does not represent JRFX’s position. JRFX does not assume any form of loss caused by any trading carried out in accordance with this article. Please consult your financial planner for your investment portfolios and manage your own risk.

JRFX is an online CFD broker providing more than 50 products for Forex, metals and commodities. Open a trading account within a minute. Deposit 100USD and download our MT4 trading platform now!