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January 16, the minutes of the European Central Banks December meeting released on Thursday showed that policymakers concluded last month that the European Central Bank needs to cut interest rates cautiously and gradually, but further easing may be possible in the future. The ECB cut interest rates for the third time in a row last month and said that it would further ease policy in view of the slowdown in inflation, but the timing and speed of the rate cuts remain to be discussed. The minutes of the ECB meeting pointed out that "given the current uncertainty, this cautious approach is still reasonable, but if the benchmark forecast for inflation in the coming months and quarters is confirmed, it is considered appropriate to gradually relax policy restrictions." With almost no economic growth at present, the ECBs focus has shifted from excessive price growth to weak economic activity, and more and more policymakers now advocate that interest rates should at least be lowered to a level that no longer hinders economic growth. The central bank will hold its next meeting on January 30, and investors have fully digested its expectations of another 25 basis point cut. The benchmark interest rate is expected to fall further to 2% by the end of 2025.Ukrainian President Zelensky: Britain will provide Ukraine with $3 billion from frozen Russian assets.ECB meeting minutes: Medium-term inflation risks are more inclined to the downside.Bank of America (BAC.N) CFO: Despite the uncertain interest rate outlook, deposits still show potential growth in the coming months.Bank of America (BAC.N) Chief Financial Officer: The banks operating income has reached its highest level in more than a decade.

Biden Defends His Management of Inflation in North Carolina

Aria Thomas

Apr 15, 2022 09:46

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However, Obama spent a significant portion of his address on his economic management, which contributed to a decline in his job approval rating, which might bode problems for Democrats in November's legislative midterm elections.


Biden claimed that job creation increased during his first year in office, with 365,000 new manufacturing jobs added, and the unemployment rate fell significantly.


However, consistent price rises across the board are a drag on Biden.


"I am aware that we continue to face the problem of rising costs and inflation," Biden said. "Putin's invasion of Ukraine has resulted in an increase in global gas prices." He said that food costs had been influenced as well by a decline in Ukraine wheat shipments.


Biden urged Congress to finalize the Bipartisan Innovation Act, which aims to increase investment in new technology and American manufacturing in order to compete with China.


Biden, according to White House sources, wants Congress to adopt the measure as quickly as possible and is encouraged that members in both the House of Representatives and the Senate have started ironing out discrepancies between their chambers' versions of the legislation.


"Congress must expeditiously deliver this measure to my desk. Our economic prosperity is at stake, as is our national security "As Biden said.


Biden said after witnessing a four-legged robot called Spot march across a university room, demonstrating the school's research. According to reports, the robotic dog was capable of maneuvering across complicated situations in order to undertake distant missions.


Biden's visit to a historically Black institution in a crucial election state comes as a November Senate battle in that state is anticipated to determine whether Biden's Democratic Party holds its small congressional majority.


The president's popularity has dwindled, with his approval rating approaching an all-time low of 41%, according to a Reuters survey released this week.

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