Yellen Cuts Fed Cash, Biden Stimulus, Deep Freeze: Eco Day

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

  • Treasury Secretary Janet Yellen is slashing the Treasury’s bulging bank account at the Fed, pushing down money market rates
  • With Donald Trump’s impeachment trial behind them, Democrats are quickly pivoting back to President Joe Biden’s priorities, particularly his $1.9 trillion stimulus plan
  • The U.S. energy crisis deepened with nearly 5 million people left in the dark as authorities fought to avoid a total collapse of the power grid
  • The Biden administration has gotten off to a rough start trying to reassure coal miners and oil workers whose jobs are threatened by the president’s fight against climate change
  • Colombia’s economy grew faster than expected at the end of 2020 as a rebound in consumer spending led the recovery from the worst slump in the nation’s history
  • Mounting concern about a global chip shortage flags the possibility that industry faces a supply-chain crunch, according to Bloomberg Economics
  • Switzerland’s wealth tax offers a rare real-world example of how a levy on assets can work
  • Saudi Arabia is increasing pressure on international firms to shift their Middle East hubs to the kingdom, posing a direct challenge to neighboring Dubai as regional rivalry heats up

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.