U.S. Infrastructure Bill, Fed Chair Race, China Clash: Eco Day

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

  • The U.S. Senate is heading toward passage this week of a $550 billion infrastructure bill that would provide the biggest infusion of federal spending on public works in decades and mark a major milestone for President Joe Biden’s economic agenda
  • Federal Reserve Governor Lael Brainard staked out some different ground from Chair Jerome Powell as the policy makers await a presidential decision on who should lead the central bank in the coming four years
    • Minneapolis Fed President Neel Kashkari said the spread of the delta variant of Covid-19 could keep some Americans from looking for work, potentially harming the U.S. recovery
  • For the first time in more than five years, the U.S. Treasury in coming months will be scaling back its mammoth quarterly sales of notes and bonds, Wall Street dealers say -- in a shift so large it’s likely to more than counter the Fed’s looming reduction in purchases
  • A rising number of U.S. job listings are including wage ranges as employers compete for cooks, truck operators and other scarce workers
  • Peru’s finance minister Pedro Francke wants to retain the central bank president after the two men spoke, and said he’s been given room by the new government to implement his economic policies
  • China’s Communist leaders are cracking down on private businesses after 40 years of allowing the market to play an expanding role in driving prosperity
  • Manufacturing managers in Southeast Asia saw a slump in activity as the region grapples with one of the world’s worst Covid-19 outbreaks, while North Asia continued to see a pick up

    • Euro-area factories are hiring new workers at record pace to keep up with persistently strong orders
    • U.S. data are due this morning
  • Finally, here’s what to look out for in the world economy this week

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