Solid U.S. Outlook, U.K. Crisis Talks, Russia Inflation: Eco Day

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

• The U.S. economy is on track for a solid start to 2022 as consumers and businesses keep spending despite high inflation, staffing challenges, supply constraints and persistent Covid-19 infections
• Leading central banks made a big call this week, deciding that the coronavirus is no longer calling the shots in their economies, and inflation is now the bigger threat
• The Russian central bank said a rate hike was possible at one of its next meetings
  • Russian inflation has consistently defied forecasts this year that it will begin to slow. But economist Alexander Abramov says he’s found a telltale predictor: gummy bears
• The Bank of Japan extended its special aid for small businesses while paring back support for larger firms as it took a cautious stance on winding down pandemic measures that further widens a policy gap with other major central banks
• U.K. Chancellor of the Exchequer Rishi Sunak is flying back a day early from a work trip to California to hold crisis talks with business leaders demanding state aid to cope with new Covid-19 restrictions
• Will China step up monetary and fiscal stimulus? Will it loosen curbs on the property sector? Bloomberg Economics runs the numbers

©2021 Bloomberg L.P.