Peru

UPDATE 1: Peru’s central bank chief forecasts low monthly inflation by the end of this year

Peru’s central bank president Julio Velarde estimated the country’s monthly inflation to be between 0. 2% and 0. 25% in November and December, he said on Thursday. The South American country’s 12-month inflation rate could reach just 3. 4-3. 5% by the end of the year, Velarde added. Peru’s annual inflation slowed to 4. 34% in October, its lowest point in more than two years, but still remains below the central bank’s 2% target of plus or minus one percentage point.

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White House Unveils Plan to Use Cold War Law to Combat Supply Chain Issues

Alex Wong/Getty ImagesPresident Joe Biden will invoke a Cold War-era law, the White House announced Monday, to bolster U. S. supply chains and expand domestic production ahead of the 2024 presidential election. The Defense Production Act of 1950, enacted as a reaction until the outbreak of the Korean War, provides the executive branch with the force to compel U. S. corporations to undertake projects in the interest of national security. It has been reauthorized more than 50 times since its inception.

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