1) U.S. expected stringent measures for international travel against omicron
The Biden administration is considering stepping up requirements for international travel amid growing concerns about the Covid-19 omicron variant that has a higher transmission rate.
“Policy discussions are ongoing across the government and no final decisions have been made,” said a White House official.
2) Fed’s Chair thinks reduction of bond buying can be faster amid rising inflation
Federal Reserve Chairman Jerome Powell said that he thinks the central bank can reduce bond buys at a faster pace than the scheduled $15 billion a month earlier this month amid concerns over spiking inflation rate. He expected the issue to be discussed at the December meeting.
“At this point the economy is very strong and inflationary pressures are high,” said Powell. “It is therefore appropriate in my view to consider wrapping up the taper of our asset purchases perhaps a few months sooner. And I expect that we will discuss that.”
3) Wall Street ended lower amid omicron and QE speeding up concerns
Wall Street closed lower on Tuesday, unable to maintain positive amid rising concerns of the Covid-19 omicron variant while Fed’s Chair Jerome Powell also signaled that the U.S. central bank would consider speeding up the QE amid pressure over rising inflation.
Dow Jones fell 1.86%, S&P 500 dropped 1.90% and Nasdaq decreased 1.55%.