U.S. Inflation Spurt, China GDP Scrutiny, Hunger Crisis: Eco Day

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

  • Prices paid by U.S. consumers surged by the most since 2008, topping all forecasts, as ex-Treasury Secretary Lawrence Summers met at the White House with two top economic aides. Bloomberg Economics models the path from transitory to persistent CPI
  • After China’s surprise central bank support, key economic data released Thursday will be studied for signs the world’s second-largest economy is entering a new post-pandemic phase
  • Indian families with two wage earners and some savings, living in rented accommodation, are among legions who saw their economic toehold ripped away in lockdowns over the last 12 months
  • Six months into his presidency, Joe Biden is revealing a hard-edged China policy that suggests relations are only going to get worse
  • The Bank of Korea is expected to provide further guidance on its plans to raise interest rates this year at Thursday’s board meeting
  • Swiss National Bank President Thomas Jordan said there’s little merit in adjusting his institution’s inflation objective
  • U.S. Democratic lawmakers will invite Fed Chair Jerome Powell to support another big round of spending, testing him just months before President Joe Biden is expected to consider his renomination
  • Treasury Secretary Janet Yellen said U.S. companies are likely to provide crucial support in pushing lawmakers to back a global overhaul of corporate taxation
  • The Philippines is set to post Asia’s worst jobless rate in 2022
  • Pakistani cement firms are expanding capacity after Prime Minister Imran Khan chose the construction sector to stimulate the economy
  • China is on track to vaccinate 75% of its population in two months

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