![]() ![]() ![]() Biden’s framework on social spending and climate initiative will be a lot smaller than anticipated but it is still a win. President Biden’s last act before the midterm elections is turning into a scramble that will have him fall short on delivering on many of his campaign promises. The ECB did not deliver any surprises: rates were kept steady, PEPP is likely to end in March, and policymakers will try to delay rate hike expectations. The euro rallied after the ECB signaled that inflation is not likely to drop as quickly as they forecasted. ![]() This earnings season has shown the US consumer is strong and has been able to handle the recent wave of price increases. Optimism is high that earnings reports from Apple and Amazon will show they are navigating through supply chain issues but are still able to get their products out. US stocks continue to rise as the economy shows it was able to take the delta variant hit in the third quarter.
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