Biden’s Package, Dovish Fed Message, Vaccine Hope: Eco Day

Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • The next phase of President Joe Biden’s legislative agenda is fast taking shape, with an economic-recovery package that will potentially far surpass his $1.9 trillion virus-relief plan in size, complexity and overall ambition
  • Federal Reserve Chair Jerome Powell is likely to emphasize a dovish message to Congress in his first testimony since Democrats took control of the Senate and White House
  • The Pfizer Inc. and BioNTech SE vaccine appeared to stop the vast majority of recipients in Israel becoming infected, providing the first real-world indication that the immunization will curb transmission of the coronavirus
  • Former governor of the Bank of England and Bank of Canada Mark Carney has been appointed to the board of Stripe Inc. amid reports the financial technology business is preparing a new funding round
  • Germany needs to further slow the spread of the coronavirus before the government can consider additional steps to loosen restrictions on Europe’s largest economy
  • Myanmar’s anti-military protesters plan to hold their largest mass rally yet on Monday after two demonstrators were shot dead this weekend
  • Russian opposition leader Alexey Navalny could be transferred to a prison camp within days after losing an appeal, which has sparked mass protests and a spike in tensions with the West
  • An ongoing surge in the cost of shipping goods around the world is prompting manufacturers and their customers to scramble for cheaper solutions

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