Pressure on Powell, Job Security Revolution, China Jobs: Eco Day

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

  • Federal Reserve Chair Jerome Powell is under pressure from investors to square the central bank’s inflation concerns with its new policy approach seeking broad and inclusive gains in the labor market
    • Emerging-market currencies hit by a hawkish Fed may soon regain their record run against the dollar
    • The pressure on long bond yields is going global, led by Treasuries and U.K. gilts, as investors reconsider reflation expectations and brace for an eventual pullback of central bank stimulus
  • Workers are about to become much tougher to fire in New York as “just-cause” protections are set to revolutionize job security
  • South Korea’s exports are set to climb by double digits again in June as the global economy shakes off the effects of the pandemic
  • China’s jobless rate has dropped steadily since the pandemic peak, though a lack of jobs for graduates and a shortage of skilled manufacturing workers point to labor market imbalances
    • China is tightening its grip on the supply of steel and coal, measures that at the very least run counter to the broader effort to tame commodities inflation
  • Almost half of London companies whose staff can work from home expect them to do so up to five days a week after the pandemic finishes, a survey showed
  • ECB chief Christine Lagarde said the governing council is making “good progress” in talks on the overhaul of monetary policy
  • Finally, here’s what’s to look out for in the world economy this week

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