Powell’s Second Term, Argentine Debt, Brazil’s Recovery: Eco Day

Jerome Powell, chairman of the U.S. Federal Reserve, listens during a Senate Banking Committee hearing in Washington, D.C., U.S. (Photographer: Al Drago/The New York Times/Bloomberg)

Powell’s Second Term, Argentine Debt, Brazil’s Recovery: Eco Day

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

  • The group of rich government creditors known as the Paris Club is willing to delay a $2.4 billion debt payment from Argentina due this month if the nation meets certain conditions, potentially averting a damaging default, according to people with direct knowledge of negotiations
  • Christopher Waller is the latest Federal Reserve governor to try and dampen expectations for central bank action to curb rising prices that he sees as “temporary”
    • Former U.S. Treasury Secretary Lawrence Summers said inflation is accelerating even faster than he forecast, posing a challenge to the benign outlooks of the Fed and the White House
  • Progressives are starting to divide on whether Fed Chair Jerome Powell should be renominated by President Joe Biden for a second term
  • Brazil’s real will strengthen and the economy will beat expectations as privatizations, investment and reforms drive the recovery, according to the economy minister
  • The deep freeze on tourism has been tough on most Asian economies. For China, though, it’s a net positive, writes Bloomberg Economics’ Chang Shu
  • Finally, the future of work may be pink and green

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