In terms of inflation rate last month, the US' 5% is now comparable to poor countries like Bangladesh, Guatemala, Tunisia, Honduras, Egypt. Other rich countries in Asia and Europe have below 2.6%. Only under Biden.
----------------Meanwhile, I congratulate the US Fed's Jerome Powell here.
Powell says climate change is not a main factor in the Fed’s policy decisions
Jeff Cox FRI, JUN 4 20218:07 AM EDTUPDATED FRI, JUN 4 20218:26 AM EDT
https://www.cnbc.com/2021/06/04/powell-says-climate-change-is-not-a-main-factor-in-the-feds-policy-decisions.html
"KEY POINTS: Fed Chairman Jerome Powell said climate change is not a main consideration for monetary policy.
Powell made clear that the institution’s role in the matter is limited to oversight of banks and the rest of the financial system.
“Our planet is burning, and we central bankers could look on our mandate and pretend that it is for others to act and that we should simply be followers. I don’t think so,” -- Lagarde
Powell, Lagarde split over central bank role in climate policy
By AFP June 5, 2021
https://www.macaubusiness.com/powell-lagarde-split-over-central-bank-role-in-climate-policy/
Notice that cartoon news network (CNN) has a different twist, see their headline:
Fed chair Powell warns of 'profound challenges' posed by climate change
By Matt Egan, CNN Business Updated 1155 GMT (1955 HKT) June 4, 2021 https://edition.cnn.com/2021/06/04/economy/powell-climate-change-central-banks/index.html
The Philippines, GDP size at constant 2018 prices:
Q1 2021 P4.24 Trillion, equivalent to Q1 2018 P4.22 T.
Q4 2020 P4.82 T, equiv to Q4 2017.
Q4 2019 P5.26 T, far out will be attained in Q4 2021, more like Q3 or Q4 2022.
So the PH has "lost" three years of economic output because of this dictatorial indefinite lockdown and business closures. Many Asian countries have "lost" only 2 years and they can recover the 2019 level by Q3 or Q4 2021. Because their lockdown policies are not as idiotic and draconian as PH. PH lockdown including mandatory faceshields upon the advice of many PH physicians under DOH, PMA and PSMID.
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See also:
Macroecon 4, Q1 2021 GDP of Europe, SE and NE Asia, May 22, 2021
Macroecon 5, Inflation rates of many countries, Oct 2020 to April 2021, May 26, 2021
Macroecon 6, GDP in Q1 2021 of 54 economies, June 01, 2021.
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