CORONAVIRUS

OPEC+ Meets Under Pressure From Biden And Omicron

The detection of the new Covid-19 variant caused crude prices to plunge more than 10 percent
After coming under heavy pressure to step up production, the United States, China, India and Japan last week announced they would dip into their strategic reserves to help bring down crude prices, after a surge that has undermined economic recovery.
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In the US wages are rising as companies compete for workers.

The American Economy Could Be On A Virtuous Cycle

The labor market is gaining momentum, and that's good news for the pace of the economic recovery. Creating additional jobs means more income, and higher income means more spending, which means higher growth and higher spending. That's what economists call the "virtuous cycle" of growth.

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