FT News Briefing Monday, December 2
Dec 2, 2019
The Federal Reserve is contemplating allowing inflation to exceed its 2% target. In the UK, politicians engage in a blame game after a tragedy at London Bridge. Meanwhile, the EU faces challenges with its budget discussions as it unveils ambitious new leadership plans. The need for local battery production in Europe is emphasized, as competition from Asia intensifies. Initiatives like the European Battery Alliance aim to bolster innovation and independence in the electric vehicle market.
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Fed's Inflation Target
- The Federal Reserve is considering letting inflation rise above its 2% target.
- This "make-up strategy" aims to compensate for periods when inflation falls short.
London Bridge Attack
- The London Bridge attack sparked debate about the early release of convicted terrorists.
- Usman Khan, jailed in 2012 for terror plots, killed two people after being released.
EU Budget Dispute
- The EU's new leadership faces a budget dispute overshadowing their ambitious plans.
- Frugal states like Germany resist increasing contributions, while others want rebates phased out.