U.S. Gas Prices, IMF’s Georgieva, China Slowdown: Eco Day

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Welcome to Friday, Americas. Here’s the latest from Bloomberg Economics to start your day. 

• President Joe Biden said his administration is looking into high gasoline prices
  • Energy crisis worsens as rally hits Europe’s industry giants
• Kristalina Georgieva risks seeing her authority as head of the International Monetary Fund undermined after being accused of influencing a report in China’s favor when she worked at the World Bank
• Bond traders are questioning just how fervently the Brazilian central bank wants to stomp on current inflation pressures and are looking to insure themselves against the risks
• The euro area’s inflation outlook may turn out higher than currently anticipated if the coronavirus doesn’t inflict any further shocks, according to European Central Bank Governing Council member Martins Kazaks
• The latest high-frequency data from China suggest further weakness in demand, extending a slowdown that was evident in the August activity data
  • Top China forecaster sees GDP growth near zero in third quarter
• Finally, here’s why Evergrande’s downward spiral is a nightmare scenario for China’s economy

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