Inflation Discussion, BOE Hawk Departs, Back to Future: Eco Day

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

  • The ECB could simplify its inflation goal and even allow prices to run hot temporarily, Francois Villeroy de Galhau said. U.S. consumer prices climbed by the most in nearly nine years as the end of pandemic lockdowns triggered a rebound in travel and commuting
  • Bank of England Chief Economist Andy Haldane will step down, removing its most outspoken contrarian and inflation hawk
  • Hong Kong wants to bring back factory jobs that left long ago, in an attempt to diversify the financial capital’s economy
  • China’s vast steel sector is the scene of a conflict between growth and a green agenda that points to wider challenges ahead
  • South Korean unemployment fell for a second month amid an ongoing recovery and government job creation program. Meantime, the labor minister says Koreans must learn how to work alongside machines
  • As the pandemic slammed the Black community and amplified the conversation around racism in America, the economics profession grappled with an uncomfortable truth: that its historical roots and practices today are mired in systemic racial bias
  • President Joe Biden will withdraw troops from Afghanistan by Sept. 11, the 20th anniversary of the attacks that sparked the U.S. invasion

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