According to the latest data released on Monday, in the New York Fed survey, US consumers’ mid-term inflation expectations rose to record highs. Consumers said that they expect inflation to be 4% in the next three years, an increase of 0.3% from the previous month. Consumers’ median estimate of the inflation rate for the next year also rose by 0.3 percentage points to 5.2% in August, which is the 10th consecutive month of growth, setting a new high since statistics were available in 2013. A survey by the Federal Reserve Bank of New York shows that Americans expect prices such as rent and food to rise at a higher rate. These commodities account for a large proportion of the consumer price basket and are difficult to replace.

OPEC predicts that demand for crude oil is expected to increase due to increased global fuel consumption and production interruptions in other regions. OPEC's latest data shows that although member states restore idle production capacity, the world will continue to face oil supply shortages in the coming months. Despite the threat of delta variants, fuel consumption is picking up, while crude oil production in the North Sea, the United States, and Mexico is lower than expected.

With the acceleration of the energy transition process, global demand for fossil fuels such as gasoline and diesel may peak as early as 2032, but it may take decades to significantly reduce oil consumption. According to IHS Markit Ltd, the demand for refined oil will not fall below 2019 levels until 2043. This forecast does not take into account the consumption of natural gas liquid, which is mainly used for plastic production.

Democrats in the U.S. House of Representatives announced a package of tax increases on Monday, but they were not as strong as Joe Biden’s original plan, thus highlighting how politically uncertain the White House’s $3.5 trillion economic agenda is for the moderates in the party. The plan proposed by Democrats of the House Ways and Means Committee will raise the maximum corporate tax rate from 21% to 26.5%, which is lower than the 28% originally sought by Biden. The maximum capital gains tax rate will be raised from 20% to 25%, instead of the 39.6% proposed by Biden. Including the 3.8% medical insurance surcharge for high-income earners, the maximum capital gains tax rate will be 28.8%.

Major cryptocurrencies gave up gains as Wal-Mart denied any agreement to use Litecoin for shopping. Litecoin-which rose by 33% at one time-gave up almost all of its gains. As of 11:25 a.m. New York time, Bitcoin had fallen 2% and rose by about 4% during the session. Other digital currencies also fell, with Bitcoin Cash, Ethereum and Grapefruit all falling. A Wal-Mart representative confirmed to Bloomberg News that the previous statement issued through Globe Newswire was not true. The company is working hard to learn more about the press release.

According to people familiar with the matter, China Evergrande Group has proposed a plan to appease investors who are worried about the overdue date of its high-yield wealth management products. Two unnamed customers notified by the product manager said that China Evergrande presented three options to product buyers on Monday, including cash instalments, redemption with Evergrande's property assets, and use of wealth management products to offset the final purchase payment. Caixin reported earlier that Evergrande Wealth released three cashing plans for wealth management products to investors.

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