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Key Takeaways

The US consumer price index rose at its fastest pace since 2012 in March, boosting inflation expectations. Johnson & Johnson will delay vaccine rollout in Europe following the CDC’s call for a pause on use.  President Biden proposes a summit with President Putin amid heightened bilateral tensions.

Condition Updates

A rundown of important global developments in markets, in business, and region-by-region, as well as statistical risk assessments by country and by US state.

Priorities and Controversies in Biden’s FY2022 “Skinny Budget”

Last week, President Biden released his FY2022 budget proposals, or “skinny budget,” which provide a topline summary of his overall spending requests and indicate his policy priorities over the next year. If Biden gets his way, next year’s federal budget would feature a marked jump in domestic spending across the board, dovetailing with current efforts to achieve a variety of legislative priorities, a modest increase in defense spending, and a general philosophy of spending markedly different from his predecessor.

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