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Central Bank Makeover, U.S. Inequality, Fed Warning: Eco Day

Central Bank Makeover, U.S. Inequality, Fed Warning: Eco Day

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

  • U.S. President-elect Joe Biden has an opportunity to remake the leadership of the Federal Reserve. But what central banks need most is a fresh understanding of what they were put on this Earth to do, Stephanie Flanders write for Bloomberg Economics
  • Across America, cheap credit -- for those who qualify -- is widening wealth inequality, often along racial lines. That yawning gap is among the biggest challenges Biden will face
  • The Federal Reserve is warning that asset prices in key markets could still take a hit if the coronavirus pandemic’s economic impact worsens in coming months
  • The U.S. has imposed sanctions on four more officials accused of undermining Hong Kong’s autonomy, showing the Trump administration is ready to keep hitting out at China
  • Argentina will ask the International Monetary Fund for an extended fund facility program, a plan that requires committing to significant economic reforms, as it seeks to delay paying the $44 billion that it owes
  • U.K. unemployment rose the most since the financial crisis over the summer, raising questions about how many job cuts could have been avoided had the government extended its furlough program sooner. Meanwhile, France said it is prepared to further ramp up spending to support any firm

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