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Photo by Smith Collection/Gado/Getty Images

The Fed's meeting this week will carry extra significance after the European Central Bank all but promised it would further ease monetary policy this month, likely by cutting its already negative interest rates on deposits and adding to its already substantial quantitative easing program.

Why it matters: Whether or not the Fed chooses to expand its QE program, as governors have hinted at in recent weeks, will have an impact on every asset as the Fed's decision not to add to its current slate of stimulative policies is becoming increasingly uncommon among global central banks.

Watch this space: ECB president Christine Lagarde referred to the “recalibration” of the ECB’s policy 20 times in her one-hour press conference, suggesting that the central bank could take even more unconventional steps to help stimulate the region's economy as it faces a second wave of coronavirus infections.

  • Policymakers at the Bank of Canada took the action many expected the Fed to take at its most recent policy meeting, shifting bond purchases through its QE program to longer-dated maturities.
  • The Reserve Bank of Australia signaled that it plans to cut record-low interest rates again at its November meeting and add to its QE program.

Go deeper

Dion Rabouin, author of Markets
Jan 19, 2021 - Economy & Business

Economic growth is slowly returning

Data: New York Fed; Chart: Axios Visuals

The New York Fed's index of real-time data indicators shows the reversal of the economy's progress in late December and early January, but it moved upwards again last week.

Driving the news: Central bankers said the index's rise for the week of Jan. 9 was due to increases in tax withholding, fuel sales and rail traffic, which countered disappointing numbers for initial unemployment insurance claims and a decrease in electricity output.

Cuomo says words may have been "misinterpreted" following allegations of harassment

New York Gov. Andrew Cuomo at a Feb. 22 news conference. Photo: Seth Wenig/pool/AF via Getty Images

New York Gov. Andrew Cuomo issued a lengthy statement on Sunday saying he " never inappropriately touched anybody" but acknowledged that "some of the things I have said have been misinterpreted as an unwanted flirtation," after two of his former aides accused him of sexual harassment.

Why it matters: Prior to Cuomo's statement, in which he adds that he "never inappropriately touched anybody" or meant to make anyone uncomfortable, the governor's office and the state attorney general went back and forth in a public disagreement about how to investigate the allegations.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."

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