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Charting Global Economy: Inflation Data Underscore Fed Urgency

Manhattan Crowds Slowly Coming Back, As Covid Pandemic Passes Year And Half Mark

Photographer: Spencer Platt/Getty Images

The latest U.S. inflation readings reinforced the Federal Reserve’s recent urgency to begin raising interest rates, Germany’s economy shrank in the closing months of 2021 while Taiwan’s expansion powered ahead.

Governments in Europe, meanwhile, are focusing on bolstering energy security in the event of war in Ukraine. Central banks in five countries, including Chile and South Africa, raised interest rates to temper price pressures.