Stimulus Merits, Inflation Focus, China Trade Surplus: Eco Day

(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

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

• President Joe Biden and his party notched a huge economic victory late Friday with passage of a bipartisan public works bill. Now he seeks to sell Americans on the merits of $550 billion in new spending even as they face rising prices for fuel, food and housing
• U.S. inflation data due this week is going to show the fastest gain in three decades, according to Bloomberg Economics
• American workers are hoping that the tight pandemic labor market will translate into better pay. It might just mean robots take their jobs instead
• Amid all the hand-wringing over global supply-chain snarls and how they’re fanning inflation, little attention in the U.S. is being paid to the demand side of the economy
• The euro region’s bout of “unexpectedly high” consumer-price increases doesn’t herald the sort of problem that global economies faced in the 1970s, European Central Bank Chief Economist Philip Lane said
• China’s record trade surplus is cushioning the economy from weakening domestic demand and giving policy makers room to delay stimulus. But it won’t be enough to keep growth from slowing further
  • Taiwanese companies sold more than $40 billion worth worth of goods in a month for the first time, as global demand for semiconductors, gadgets and metals continued to grow
• Three centuries before Glasgow hosted the COP26 conference aimed at mitigating climate change, it played home to Adam Smith, often credited as the “father of economics.” A group of economists recently revisited his work to reflect the modern challenge of a warming planet
• Finally, here’s what’s to look out for in the world economy this week

©2021 Bloomberg L.P.