Fed Minutes, U.K. Inflation, Soaring Food Prices: Eco Day

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

  • The U.S. Federal Reserve is due to publish minutes of its July meeting later today, with debate growing on the timing of any tapering of bond purchases
    • Speaking on Tuesday, Chair Jerome Powell said U.S. students are being forced to mature faster because of the Covid-19 pandemic. He predicts they will become an “extraordinary generation” that will have a bigger impact on society
  • U.K. inflation eased in July in what is widely seen as a blip on its way to double the Bank of England’s 2% target this year
    • The unexpectedly sharp slowdown may provide a glimpse at how quickly price gains could ease once distortions caused by the pandemic have passed, according to Bloomberg Economics
  • New Zealand’s central bank refrained from raising interest rates during a coronavirus outbreak and nationwide lockdown but left little doubt it intends to start lifting them soon
  • China could be making inroads in a long-standing battle to deal with local governments’ so-called “hidden-debt” as the economy’s rebound gives officials room to focus on tackling financial risks
  • Finally, here’s how inflation is slamming the freezer shut and leading households around the world to make sacrifices

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