The Fed's Report on Inflation

Former head of the New York Fed bill Dudley says a pullback in housing cost will push headline US inflation below 3% by the end of this year. The S&P 500 fell more last year than during Volcker's reign when he was crushing inflation, so it may be that that 27% sell-off we saw last year was enough to discount whatever is happening this year. Lee Yunzuh, China's new financial regulator has been very much in the camp that banks need to support economic development and prevent financial risks. That fits with President Xi's push for common prosperity and socialized capitalism.