Scarred U.S. Consumers, Argentine Debt, ECB Stimulus: Eco Day
(Bloomberg) -- Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- Even with the rosy assumption that the Covid-19 virus will be contained in the coming weeks, the U.S. economy is in for a slow and painful struggle back from this devastating public health crisis
- That’s a big challenge for Jerome Powell and Federal Reserve policy makers, who are flying blind on the economic outlook
- President Donald Trump’s top economic advisers on Sunday argued that a “safe” reopening of the U.S. is needed urgently as they stare down the worst job numbers since the Great Depression. Although Trump has said he’s in no rush to enact another round of stimulus, the economic team said informal discussions are under way
- Argentina extended the deadline for its debt offer to May 22 from May 8. The move is part of President Alberto Fernandez’s next steps in debt restructuring and gives more time for talks with creditor groups
- In the middle of a spat between Europe’s top courts over the limits of European Central Bank monetary stimulus, President Christine Lagarde is probably preparing to do even more. Lagarde says her institution is “undeterred” by a legal tussle over its 2.7 trillion-euro ($2.9 trillion) asset-purchase program, and will do what’s needed to carry the euro zone through the coronavirus crisis
- Here’s Bloomberg Economics’ preview of the U.S. week-ahead.
©2020 Bloomberg L.P.