No Worries Powell, Mega-Firm Rise, Big Government Rerun: Eco Day

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

  • Jerome Powell had a ready answer to counter criticism that the Fed is running risks with inflation, as he signaled it will maintain aggressive support as the U.S. recovery gathers speed
  • The world’s biggest firms are doing great -- but that might not be such good news for everybody else, says Justin Jimenez
  • Big government is back. Four decades after Ronald Reagan’s philosophy of lowering taxes and shrinking government took hold Joe Biden is turning U.S. economic policy in the opposite direction
  • Tickets for everything from domestic flights to theme parks are rapidly selling out in China ahead of its Labor Day holiday
  • Australian Treasurer Josh Frydenberg said the jobless rate will “need to have a four in front of it” to generate faster wage growth and higher inflation, signaling a willingness to keep the fiscal spigot open
  • Did China lowball first-quarter GDP? Chang Shu looks at the evidence
  • Here’s why the New Zealand central bank’s policy committee has never needed to vote
  • Cut, Hike, Hold -- Bloomberg Economics previews central bank meetings
  • One large option bet built up over the past week is aiming for a surprise at the Kansas City Fed’s annual symposium in Jackson Hole
  • The Biden administration is in talks with the EU to avoid an escalation in a dispute over tariffs on European metals exports
  • MNC Group will invest in entertainment venues and events like a music festival modeled after Coachella to lure in young Indonesians

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.