Macro Briefing: 13 May 2024

* Biden expected to announce new tariffs on some Chinese goods
* Falling birthrates around the world is raising alarms
* Analysts forecast upbeat Q1 earnings results will continue in Q2
* China’s seizure of Taiwan’s TSMC would be ‘devastating’ for US, says official
* US Consumer Sentiment Index falls to 6-month low in May:

Housing inflation is a key factor that’s delaying interest rate cuts by the Federal Reserve, notes The Wall Street Journal. “Housing has played a large role in the inflation of recent years because its cost rose so much and carries such large weight,” writes columnist Nick Timiraos. “It is one-third of the consumer-price index and around one-sixth of the price index of personal-consumption expenditures, the Fed’s preferred inflation measure.”

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