Powell’s Tough Spot, World-Beating Growth, China Skills: Eco Day

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

• Chair Jerome Powell risks inflation getting out of control, said former Richmond Fed chief Jeffrey Lacker. Meantime, progressive Democrats are urging President Joe Biden not to reappoint Powell
• The economic toll from a deadly second wave of Covid-19 that swept through India last quarter doesn’t appear to be as bad as feared
• China expects shortages of skilled workers will worsen over time as the government develops its high tech industries
• North Korea may have resumed operations at its plutonium-producing Yongbyon nuclear reactor in the past few months
• Chinese President Xi Jinping’s vision means there’s unlikely to be any policy blitz and easy growth, Bloomberg Economics says
• Japan needs to do more to tackle money laundering and terrorist financing, according to the global Financial Action Task Force
• Bloomberg Economics models the outlook for major economies and maintains dodging a taper tantrum remains key to recovery
• ECB Governing Council member Francois Villeroy de Galhau said the the bank should take into account more favorable financing conditions when it decides on the pace of emergency bond-buying
• Canada’s economy sprang back to life over the summer as vaccine-led reopenings spurred a return to growth
• Nigeria’s central bank selected Bitt Inc. as a technical partner to help create its digital currency by the end of the year
• Japan’s yen, the worst-performing Group-of-10 currency this year against both the dollar and the euro, may lose value and become more volatile due to a series of domestic catalysts
• A few days after Prime Minister Scott Morrison called for an independent probe into the origins of the coronavirus, Chinese bots swarmed on to Australian government networks. It was April 2020

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