U.S. Consumer Prices, Infrastructure Bill, China Growth: Eco Day
Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.
- U.S. consumer prices probably rose in July at the slowest pace in five months, marking a deceleration that stops short of full relief from cost increases weighing on sentiment and driving political debate. Here’s our guide to the week ahead
The delayed passage of a $500 billion infrastructure package seems set to be completed late today or early tomorrow morning
- A vote to limit the debate on the bill was supported by 18 Republicans along with all Democratic Senators, an indication of sufficient bipartisan backing for passage
- It seems an attempt to add cryptocurrency tax rules to the package may have failed as agreement on the wording of that section could be too late for inclusion
- Once the infrastructure deal is done, Senate Majority Leader Chuck Schumer plans to turn quickly to passing a budget resolution that would give Democrats the power to pass the remainder of President Joe Biden’s economic agenda
- After all the excitement from Friday’s jobs report, we get a look at the other side of the U.S. labor market this morning when the JOLTS job openings number for June is published
- The latest twists in the seemingly endless saga of the U.S. debt ceiling underscore once again how strange the whole thing is
- Ahead of anticipated elections, there’s a growing chorus of prominent Canadians who say the nation’s major political parties are neglecting economic growth as an issue
- China’s economic risks are building in the second half of the year, with growth set to slow while inflation pressures are picking up, clouding the outlook for central bank support
- Bloomberg Economics said inflation is unlikely to be a key consideration for China’s monetary policy in the near term, while Goldman Sachs slashed its China growth forecast on Delta virus outbreak
- The slowdown in China’s July exports is a concern but the weakness wasn’t as pronounced as the headline reading suggests
- Finally, listen to the latest episode of the Odd Lots podcast where, Dallas Fed President Rob Kaplan shares his thoughts the economy and monetary policy right now
©2021 Bloomberg L.P.