All this talk of dinner is making us hungry. So we’re off into Davos, where the cars are queued bumper to bumper and the global elite are tucking into canapés and fizz.
Here’s our news story about the big news of the day - the clash between Trump and Thunberg. Goodnight!
Gianno Infantino, FIFA president, gave Donald Trump a soccer ball at tonight’s global CEOs dinner “just to remind everyone what the real priority is of life.”
That’s according to the White House press pool, who also report that Infantino then doused Trump in flattery:
Infantino compared POTUS to the world-class athletes he often interacts with: “President Trump is made of the same sort of fiber.
He is competitive... He wants to win.”
I’m tempted to book Infantino for excessive creeping.
Harvard economist Ken Rogoff has pulled Kudlow up short, over his claims that countries should just cut tax rates, deregulate, and let the economy run along.
Oof! Larry Kudlow agrees that the Federal Reserve is quietly conducting a new quantitative easing scheme, even if it denies it.
Donald Trump’s economics expert says that the Fed’s recent policy of buying $60bn of short-term Treasury bills is effectively a stimulus programme
The Fed claims it’s simply providing liquidity to keep the plumping of the financial system flowing. But Kudlow isn’t convinced, pointing out that the markets aren’t either!
The net effect is that they are expanding the balance sheet, whatever you want to call it. It’s no wonder the stock market and the housing market is rising.
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