Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, professor of economics at Ewha Womans University.
Professor Kim, good afternoon and thank you for coming on.
The Fed has released its latest beige book, a report on the economy. It shows a modest recovery, but there's obviously still concern because of the state of the pandemic in America and the lockdowns. Tell us about the Fed's assessment.
With the Biden administration coming in, expectations that there'll be huge amounts of money out there have 10-year inflation expectations touching 2 percent. Some say this would prompt the Fed to taper some of its quantitative easing. Tell us about that and whether you think that might be an appropriate path to take.
Stocks in New York overnight were up, with the exception of the Dow. It seems investors aren't too concerned about what's going on with Trump, but what's the story in the global markets?
Korean stocks were up and down today, but trading in a fairly tight range. Again we see retail investors buying and institutions selling. Tell us about the local market and where you see it going.
Finally, professor We see bank loans to households rose last year by a record amount 100 trillion won. That's a little under a hundred billion dollars, and this is despite the government putting strict rules on the amount people can borrow to buy real estate. So why is debt rising, and what you make of the situation?