Living With Covid, RBNZ Gender-Pay Gap, China Slowdown: Eco Day

(Bloomberg) -- Welcome to Tuesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.

• The U.S. economy will spend 2022 learning to live with coronavirus without much in the way of help from the Fed or the government
  • President Joe Biden must quickly rewrite his policy agenda in a crucial election year after a key Senate Democrat abruptly rejected his signature $1.75 trillion economic plan
  • Omicron won’t derail the economic recovery because consumers have learned to live with new outbreaks
• It led the world with inflation targeting, but New Zealand’s central bank is no pioneer for women
• Chinese banks cut borrowing costs for the first time in 20 months, signaling more monetary support to an economy showing strains
• Mince pies. Latkes. Eggnog. Tamales. As families plan holiday celebrations, they’re encountering a harsh reality: Traditional foods are significantly costlier in 2021 -- if they’re even available at all
  • Supply chain disruptions and rising virus cases reduced the volume of global merchandise trade by 0.8% last quarter
  • Two thirds of U.K. manufacturers plan to raise their prices
• Bloomberg Economics is tracking the global recovery via its high frequency data dashboard
• Germany’s new government picked Joachim Nagel, a former Bundesbank senior official, as the central bank’s next chief
• The World Economic Forum postponed its annual meeting in Davos next month, thwarted for a second year by fresh waves of the virus
• The number of people visiting London’s major shopping district was down by almost a fifth before Christmas compared with pre-pandemic levels, a further sign of the toll from omicron’s spread

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