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World Shrugs Off Delta, Biden $3.5 Trillion, China Rate: Eco Day

World Shrugs Off Delta, Biden $3.5 Trillion, China Rate: Eco Day

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

  • Even as delta risks loom, early signs from the third quarter show growth accelerating and inflation peaking after its recent jump, in a reassuring sign for policy makers and investors
  • China’s central bank is facing mounting calls to cut interest rates as fresh coronavirus outbreaks threaten to upend the recovery
  • President Joe Biden’s economic agenda took a major step forward Wednesday with Senate passage of a $3.5 trillion budget framework
  • China signaled its push to regulate sweeping parts of the economy, which has jolted markets, will be deep and sustained
  • Janet Yellen is weighing a trip to China in the coming months that would be her first as U.S. Treasury secretary, as the Biden administration engages in a broad review of policy toward Beijing
  • Prices paid by U.S. consumers climbed at a more moderate pace, though not enough to provide major relief from increases weighing on sentiment and driving policy debate. Bloomberg Economics sees the inflation sprint baton now shifting from goods to services
  • Kansas City Fed President Esther George said the central bank needs to move ahead with reducing monetary stimulus
  • The Philippine central bank is expected to keep its benchmark interest rate at a record low Thursday
  • Most investors view inflation as evidence of an expanding economy. But not everyone. An increasingly vocal minority is sounding off about the chilling combination that’s known as stagflation

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