FT News Briefing US housing prices spark officials’ concern
Jul 22, 2021
A new deal between the U.S. and Germany over the Nord Stream 2 pipeline has been reached, aiming to enhance energy security. Meanwhile, rising housing costs in the U.S. are becoming a significant concern for the Federal Reserve and the Biden administration, impacting inflation and political dynamics. Officials, including Treasury Secretary Janet Yellen, are worried about the affordability crisis facing families and first-time homebuyers. Increased living costs pose challenges for the Democrats as they navigate these economic pressures.
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US-Germany Pipeline Truce
- The US and Germany agreed on the Nord Stream 2 pipeline, ending a long dispute.
- Germany will support Ukraine's energy transition and sanction Russia if it threatens European energy security.
Brexit and Northern Ireland Tensions
- The UK seeks to revise the Northern Ireland protocol, a key Brexit trade arrangement.
- The EU rejects renegotiation, leading to potential UK unilateral action and strained relations.
Housing Inflation Concerns
- Rising US housing costs concern officials like Treasury Secretary Janet Yellen.
- They pose challenges for homebuyers and impact the Federal Reserve's inflation control efforts.