Macro Briefing: 26 October 2021

* Biden’s billionaire tax runs into criticism as too cumbersome
* Markets increasingly pricing in risk that inflation isn’t transitory
* Blackstone’s Schwarzman says energy shortages could cause social unrest.
* Ark Invest’s Cathy Wood says falling money velocity will keep inflation in check
* Apple’s new privacy rules take a bite out of Facebook’s ad growth
* Tesla’s market cap reaches $1 trillion as Hertz orders 100,000 Teslas
* Dallas Fed Mfg Index: sector growth slows in October as “costs soar”
* US economic growth continued to slow in September via Chicago Fed index: