February 22 (Tuesday)

Latest Morning Briefing Executive Summary: Pieces of the Economic Puzzle.

Are consumers more depressed about inflation or more optimistic about employment? Our Consumer Optimism Index, which captures both trends, stands well below pre-pandemic levels, suggesting the former. In fact, January’s strong retail sales may reflect inflation-driven behavior, i.e., the inclination to buy in advance of price rises. … We also examine what’s happening behind the data for industrial production, inventories, transportation, construction, capital spending, and trade. … And: What’s the Fed’s take on the inflation problem? Officials have abandoned the term “transitory” but apparently not the hope. We have only one word for that: “delusional.” (subscribers’ link)

YRI
Daily Markets Overview
See subscribers’ link below for today’s Morning Briefing.
Replay of Dr. Ed’s webinar on February 14.

Markets
Frackers Push Into Once-Dead Shale Patches as Oil Nears $100 a Barrel | W

Central banks
Fed Official Leaves Door Open to Larger Rate Increase in March | W

Global
Inflation is surging, and corporate pricing is, too – Vox

US
The Inflation Mess and a Financial Refuge | W
Worried About Inflation and Supply Constraints? Try Being a Small Business. | W
Jenny Schuetz on Fixer-Upper, a plan to solve America’s many housing crises. | Slate

Geopolitics & trade
Putin orders forces into rebel eastern Ukrainian regions after decree | C
Biden orders sanctions on rebel areas of Ukraine after Putin decree | C
Putin’s Endgame: Unravel the Post-Cold War Agreements That Humiliated Russia | W
Canada’s parliament approves Trudeau’s emergency powers | R
In Eastern Ukraine, Life Under Shelling by Russian-Backed Forces Becomes Untenable for Many | W

Virus
Covid: UK to roll out additional vaccine shot for over 75s, vulnerable people | C

Beyond markets
Larry Fink as Wall St. Dr. Evil?: ‘Woke’ within reason | P
75% of people want single-use plastics banned, global survey finds | R