China Threat, Powell’s Charm, Stimulus Stalemate: Eco Day
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- Vice President Kamala Harris warned that China poses a threat to Asian nations but reassured them that the U.S. wouldn’t force countries to choose between the world’s largest economies
- Federal Reserve Chair Jerome Powell has charmed both Democrats and Republicans, positioning him well if he is nominated for a second term
- Talks between House Speaker Nancy Pelosi and a group of Democratic lawmakers failed to break the stalemate over how to progress President Joe Biden’s legislative agenda
- Discussions are set to resume today, with moderates wanting to ensure passage of the infrastructure bill, while progressives want to tie it into the larger stimulus package
- For Pelosi, the stakes are high as she cannot afford to lose much support from either faction due to her party’s small majority in the chamber
- China’s central bank chief Yi Gang vowed to stabilize the supply of credit and called for efforts to lower financing costs for smaller businesses following a meeting with banks
- Paraguay hiked rates for the first time in more than five years as rising food and fuel prices boosted inflation above target -- it joins other Latin American peers such as Brazil, Mexico, Chile and Uruguay
- U.K. staff shortages in key industries such as haulage and construction are unlikely to be solved by the ending of the government’s furlough program, risking the nation’s economic recovery
- The U.K.’s economy is set to be left damaged by the pandemic and weighed down too by an aging population and Brexit, according to Bloomberg Economics
- Finally, here are some reasons to be optimistic about the global economic outlook
©2021 Bloomberg L.P.
Follow The Latest News On The Global Economy On BloombergQuint