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Behind Us..

 

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European Union has "serious concerns" about the U.S. Inflation Reduction Act, saying it breaches international trade rules, according to an official document seen by CNBC.

The sweeping tax, health and climate bill was approved by U.S. lawmakers in August and includes a record $369 billion in spending on climate and energy policies. The landmark package comprises tax credits for electric cars made in North America and supports U.S. battery supply chains.

European officials have acknowledged the green ambitions associated with the package, but they are worried about "the way that the financial incentives under the Act are designed," the document, which will be presented to U.S. officials, says. The EU listed nine of the tax credit provisions that it has an issue with.

Speaking in Brussels, the EU's trade chief said, "We have established a taskforce to deal with these issues ... we are currently concentrating on finding a negotiated solution."

Gauged..

 

An economic gauge that the Federal Reserve follows closely showed that inflation stayed strong in September but mostly within expectations, the Bureau of Economic Analysis reported.

The core personal consumption expenditures price index increased 0.5% from the previous month and accelerated 5.1% over the past 12 months, the report showed.
Including food and energy, PCE inflation rose 0.3% for the month and 6.2% on a yearly basis, the same as in August.

The report comes as the Fed is prepared to enact its sixth interest rate increase of the year at its policy meeting next week. In an effort to combat inflation running at its fastest pace in nearly 40 years, the Fed has been raising rates, with increases totaling 3 percentage points thus far.
Markets widely expect the Fed to enact its fourth straight 0.75 percentage point increase at the meeting, but possibly slow down the pace of hikes after that. One would wish. Just aq thought.

Defamation..

 

Image is not related.

Longtime Jeffrey Epstein accuser Virginia Giuffre has agreed to drop her defamation lawsuit against former Harvard Law School professor Alan Dershowitz – saying Tuesday that she may have made a “mistake” in identifying him as one of the men she was forced to have sex with.

In a stipulation dismissing the Manhattan federal court suit, attorneys for Giuffre and Dershowitz said neither party would be awarded costs or legal fees as part of the settlement. 

“I now recognize I may have made a mistake in identifying Mr. Dershowitz,” Giuffre, 39, said in a statement. “However, I was very young at the time, it was a very stressful and traumatic environment.

“This litigation has been very stressful and burdensome for me and my family, and we believe it is time to bring it to an end and move on with our lives,” she said.

No comment here.  Just a thought.

Pipe..

 

That was earlier in 2021. "first day in the office " and proud of it. The prices of oil skyrocketed then and whatever they did failed. US and G7 did continue on attempt to cripple the Russian economy, but the opposite is happening. Just a thought.

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US worked as hard as possible to disturb the Russian energy, which led to a disasterous situation for Europe.  The Unifier unified the Allies and now they all are in economic difficulties.

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