Biden Dismisses Inflation Worries, ECB Policy, Eviction: Eco Day

(Bloomberg) -- Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• President Joe Biden dismissed concerns that the U.S. would experience persistent inflation
  • He cautioned that restaurants and others in the hospitality sector might face hiring challenges as workers seek better wages and working conditions
• Millions of Americans are at risk of eviction, as states and local jurisdictions have disbursed just a fraction of the $47 billion in federal funding enacted since December
• The European Central Bank is set to reveal today how its new inflation goal affects plans for future monetary policy, paving the way for a critical debate in September on whether and how to withdraw emergency bond buying
  • The Governing Council likely to commit in its forward guidance to keeping interest rates unchanged until inflation is forecast to reach or slightly surpass 2%, in Bloomberg Economics’ view
  • The ECB’s Governing Council has a dovish tilt to keeping policy loose, according to Bloomberg Economics’ Spectrometer
• Hamptons home prices reached a record high as New Yorkers, who may have gotten a taste for remote working, stepped up their bidding for a dwindling supply of listings
• Arabica coffee prices surged to the highest in six years driven by increasing signs of shrinking global supplies, adding to broader concerns about food prices rising
• Finally, check out this week’s Stephanomics podcast which explores the promising and disconcerting future of Bitcoin and its brethren as well as the economic impact of low fertility rates in Asia

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