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The Federal Reserve has given its strongest signal yet that it will start tapering its bond buying stimulus programme this year and more central bank officials see a first interest rate rise in 2022; Japan’s SoftBank has followed Saudi Arabia’s Public Investment Fund and Abu Dhabi’s Mubadala in backing a new $2.5bn private equity fund set up by former US Treasury secretary Steven Mnuchin just eight months after he left office; and the FT’s James Kynge explains that the unravelling of China’s Evergrande property developer shows deep flaws in the country’s growth strategy. 

More Fed officials see first interest rate rise in 2022

SoftBank backs Steven Mnuchin’s $2.5bn private equity fund

Valued at $41bn in 2020, the spectacular unravelling of the Chinese property group Evergrande exposes deep flaws in Beijing’s growth strategy

Rachman Review: Biden and the world

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley. 

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