The International Monetary Fund (IMF) has warned Fed officials that they should be preparing to tighten policy in case inflation gets out of control. While IMF officials said they believe inflation will ease at some point, they noted that there is much uncertainty around the issue. According to a recent NPR poll, more Americans are feeling financial distress during the delta variant.

 

CNBC/Jeff Cox
IMF warns on inflation, says the Fed and others should be prepared to tighten policy

Central banks such as the Federal Reserve should be prepared to tighten policy in case inflation gets out of control, the International Monetary Fund warned Tuesday.

While the IMF said it largely concurs with assessments from the Fed and other economists that the current global spate of price increases eventually will ease, it noted there is “high uncertainty” around those forecasts.

The cautionary tone mentioned the U.S., as well as the UK and other developed economies, as places where “inflation risk are skewed to the upside.”

Continue reading, here.

 

NPR/Selena Simmons-Duffin, Joe Neel
NPR poll: The delta surge pushed Americans further behind in all walks of life

Americans have fallen way behind.

The rent’s overdue and evictions are looming. Two-thirds of parents say their kids have fallen behind in school. And one in five households say someone in the home has been unable to get medical care for a serious condition.

These are some of the main takeaways from a new national poll by NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health.

Despite billions of dollars in relief money from federal and state governments, “what we have here is a lot of people who are still one step from drowning financially,” says Robert Blendon, emeritus professor of health policy and political analysis at the Harvard Chan School.

You can read the full story, here.

 

CNN Business/Michelle Toh
Evergrande default looms as another developer warns of trouble

Evergrande stayed silent Tuesday about its fate after reportedly failing to make interest payments on another international bond, the third such deadline it appears to have missed in recent weeks.

The sprawling Chinese real estate conglomerate was due to make payments of about $148 million on US dollar-denominated bonds on Monday. It did not immediately respond to a request for comment Tuesday.

Evergrande is China’s most indebted developer, with $300 billion worth of liabilities. It has already likely missed payments on two other US dollar-denominated bonds, fueling speculation over whether the company could collapse. The first of those came due September 23, from which Evergrande had a 30-day grace period — a deadline that is drawing closer.

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