FT News Briefing Will student debt add up to more inflation?
Aug 31, 2022
Discover the mix-up at Cineworld regarding its largest shareholder and ExxonMobil's battle against a Kremlin decree. Dive into the heated debate surrounding President Biden's student debt forgiveness plan and its potential inflationary effects. Experts share insights on how relieving $10,000 in student loans might stir up consumer spending, with predictions of a slight inflation rise. The discussion unfolds at the intersection of policy, economics, and the everyday lives of borrowers.
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Cineworld's Bankruptcy
- Cineworld, the world's second-largest cinema chain, faces bankruptcy and will likely file for Chapter 11 in the U.S.
- The company's complex corporate structure led to misreporting its largest shareholder in its annual report.
ExxonMobil vs. Putin
- ExxonMobil is challenging a decree by Vladimir Putin that prevents it from exiting Russia.
- The company issued a "notice of difference," initiating negotiations with Russian officials.
Student Loan Forgiveness and Inflation
- Economists debate if President Biden's student loan forgiveness plan will worsen inflation.
- Some argue any new spending increases inflation while others believe the impact will be minimal.