Germany’s new coalition is unveiled with the SPD’s Olaf Scholz set to be Chancellor. The Greens receive the foreign and economy ministries while the FDP is set to run the finance ministry. The coalition says it will consider vaccination mandates while Italy tightens restrictions on the unvaccinated. According to November’s FOMC minutes, Fed members are considering rate hikes should price pressures continue – as the central bank’s preferred inflation measure surges 4.1 per cent on the year in October. Meanwhile, a dozen Chinese companies are added to the U.S. trade blacklist due to national security and foreign policy concerns.