One week on from Freedom Day and the ‘pingdemic’ continues to draw criticism, fuelling conspiracy theories of lockdown by proxy.

The economy is performing well and the recovery is progressing nicely, but inflation is above the Government's target and creeping higher, so there is already reason to start tapering support, but with the global recovery fuelled by printing money, Central Bankers seem reluctant to be the first to turning down the money taps.

The FOMC meet this week. Since Powell formally put tapering on the agenda, we can expect discussions to mirror those reported from most Central Bank meetings. Inflation will remain a key driver of these discussions. New York is reporting raging inflation, which is expected to rise further and we have preliminary Q2 GDP due out on Thursday, which will surely be available to the Fed.

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