Belarus Exodus, Food Inflation Threat, Fed Concerns: Eco Day

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

• European governments must find the right moment to wean the economy off crisis support so they don’t harm long-term growth, financial supervisors warned
• Signs suggest the food inflation that’s gripped the world over the past year, raising prices of everything from shredded cheese to peanut butter, is about to get worse
• The U.K. is holding back its plan for evaluating the economic impact of new trade deals, which was prepared before Prime Minister Boris Johnson signed the post-Brexit agreement with the European Union. Meanwhile, England’s children’s commissioner is set to warn that Johnson must put vulnerable children at the heart of his post-Covid plans
• Federal Reserve officials say the U.S. economy continues to be disrupted by the pandemic, with one regional central bank chief dismissing the threat that inflation could get out of hand. A Kansas City Fed official separately flagged the risk of financial instability from commercial real estate
• After Belarus’s authoritarian leader faced down mass protests against his 26-year rule, the pioneers that turned the former Soviet republic into an unlikely tech hub are increasingly headed for the exit
• The U.S. House of Representatives is aiming to vote Feb. 26 on President Joe Biden’s $1.9 trillion stimulus plan. Meantime, a proposal to gradually raise the U.S. minimum wage to $15 by 2025 has triggered a fierce lobbying battle on Capitol Hill
• A three-decade high for Japan’s soaring stocks is adding to pressure on the central bank to tweak its buying of exchange-traded funds
• Turkish interest rates may be high enough to put the screws on credit growth

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