Congress debated a $52B bill in support of domestic semiconductor production. We look at what is this bill trying to achieve and how close it is to becoming reality. The European Central Bank raised interests rates for the first time in 11 years. How big is the Europe’s inflation problem and is the ECB’s plan to “front load” rate hikes a good one? Some of the world’s biggest companies reported earnings this week with varied results. There was, however, a general consensus in economic outlook: gloomy.