Job-Crusader Powell, Lagarde’s Debut, Jobs for Ex-Cons: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your Thursday started:

  • As head of the Federal Reserve, the late Paul Volcker earned a reputation as an inflation fighter. Current Chairman Jerome Powell wants to be known as a job crusader
  • Across the Atlantic, Christine Lagarde finally has the chance to shake off the shadow of her predecessor on Thursday, at her debut press conference as European Central Bank president.
  • Swiss National Bank President Thomas Jordan unleashed a staunch defense of negative interest rates, insisting the controversial policy is the only way to keep the franc in check and help the economy
    • Meanwhile, the Turkish central bank delivered another interest-rate cut that exceeded forecasts
  • Brazil cut its benchmark interest rate by half a percentage point to a record low on Wednesday and said it will exercise caution in its next monetary policy decision, leaving the door open for additional easing
  • The era of austerity is drawing to a close. After almost a decade marked by stringent controls on the public purse, the pendulum has swung back to deficit spending
  • Finally, here’s this week’s Stephanomics podcast, which remembers the softer side of an inflation warrior

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