US President Joe Biden looks set to revive talks over his $2 trillion economic package, after meeting with Senior Democrat Senator Joe Manchin. The US Senator has been a huge obstacle pushing through the package, which has caused a divide amongst the democrats as they became confused over Joe Biden’s priorities. Joe Manchin has previously said that he wouldn’t back the ‘Build Back Better’ plan, so the US president has been on a mission to gather as much support as possible.
Turkish Lira strengthened significantly against its peers overnight, as President Tayyip Erdogan introduced new measures to give the currency a boost. The Turkish President, who has been very involved in the country’s currency fluctuations, announced that the Government will make up for losses on Lira deposits incurred by the Lira’s fluctuations against hard currencies which exceed interest rates promised by banks.
Omicron is set to halve fourth quarter global economic growth. A Bloomberg report suggests that the COVID variant is dealing blow to the world economy as the pandemic enters its third year, with forecasts suggesting global growth will expand by only 0.7%; half the pace of the previous quarter.
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