Powell Testimony, Zombie Companies, New U.S. Jobs: Eco Day

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

• Jerome Powell -- who’s set to testify before the Senate Banking Committee today -- said he’s ready to use the Fed’s full range of tools and leave the key interest rate near zero until the economy is back on track
  • A dashboard of high-frequency indicators shows signs of stabilization or slight improvement from the rapid pace of deterioration seen in recent weeks
• Thermal scanners in Utah and Maryland. Contact tracers in San Francisco. Decontamination technicians in Miami. Meet the people needed to keep the post-Covid U.S. economy running
  • Science and math grads from overseas are seeing their job offers withdrawn and could lose access to U.S. visa programs that feed big tech companies
• The Fed’s credit-market support is staving off bankruptcies, yet it may also be setting the economy up for long-term pain
• Europe is slowly waking up from its forced hibernation to contain the coronavirus. Figures on movement, restaurant bookings and energy consumption show the pickup in activity
• The number of Britons seeking jobless benefits spiked the most on record last month. Luckily, the U.K. can ramp up spending without risking unsustainable levels of debt, thanks to historically low interest rate
• Pandemic-fractured supply chains are providing a wake-up call to British business and leaders with just seven months to go before Brexit triggers the biggest shakeup of trading relationships in a generation
• When Chinese Premier Li Keqiang delivers his annual report on economic policy Friday, the document’s most important number might be missing
• The Bank of Japan will hold an emergency policy meeting Friday to discuss details of a funding program

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