Rent costs are a big component of the consumer price index. The fed and other economists look at inflation through rent costs, not house prices or asset values. If rental costs go up, they're more likely to stick around. It also means that prices aren't spiking like prices for sort of used cars or air fairs or hotels.
Washington and Berlin have reached a deal to resolve their longstanding dispute over the Nord Stream 2 pipeline, and Brussels has insisted it will not renegotiate the EU’s Brexit deal with the UK after London inflamed tensions by launching a bold push to overhaul Northern Ireland trade rules. Plus, rising housing expenses are quickly emerging as a pivotal indicator for officials at the Federal Reserve, within the Biden administration and among private economists.
EU rejects British plan to rip up Brexit deal with George Parker, political editor
https://www.ft.com/content/13ad8840-a83c-4871-a877-47b7001d839b
US and Germany reach truce over Nord Stream 2 pipeline with Aime Williams, US trade correspondent
https://www.ft.com/content/49210a4e-17ed-4a2e-a986-4efcadc7f342
US housing inflation: the sleeping giant that might tip the Fed’s hand with James Politi, Washington bureau chief
https://www.ft.com/content/efdf1845-6138-4af7-8d2b-c20df9fed218
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Our intern is Zoe Han. Additional help by Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
Hosted on Acast. See acast.com/privacy for more information.