Virtual Jackson Hole, Supply Crunch, China’s Crackdown: Eco Day
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Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- The switch to a virtual Jackson Hole highlights the uncertainty in the Federal Reserve’s next steps, with rising coronavirus cases limiting what Chair Jerome Powell can say about what comes next for U.S. monetary policy
- It’s more important to focus on when tapering will end, not when it will start, as the market watches for further insight on the timetable for raising rates
- U.S. GDP at the end of 2022 could be around 0.7% lower if the Fed surprises with a taper when conditions aren’t right, according to Bloomberg Economics
- The supply chain crunch was meant to be temporary, but it could last well into next year as the delta variant upends factory production in Asia and disrupts shipping
- Semiconductor and staff shortages are wreaking havoc in the U.K., with car production plummeting in July to levels last seen 65 years ago
- China’s regulatory restrictions on industries as diverse as steel, education and property are curbing the outlook for the nation’s growth
- The hybrid work revolution is already transforming economies and experts are saying it’s offering a rare opportunity to kickstart sluggish economies
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