Climate Change Risks, New WTO Chief, Big Energy Freeze: Eco Day

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

  • Top economists warned the U.S. against underestimating damage from climate change just days before President Joe Biden’s administration is expected to release an interim report on the “social cost of carbon”
  • Texas began rolling power blackouts for millions of households for the first time in decades as an unprecedented freeze wrought chaos in U.S. energy markets
  • Today, after a bruising nine-month selection process, Ngozi Okonjo-Iweala will be appointed head of the World Trade Organization with the support of the world’s major trading nations, including China and (eventually) the U.S.
  • South Africa is apprehensive about striking a new trade deal with the U.S. and would rather maintain existing relations with the world’s largest economy, the nation’s top trade official said.
  • Chile’s central bank said last week that a recent pick-up in inflation is temporary. Some analysts aren’t so sure
  • Finally, here’s our preview of what to watch this week: U.S. Week Ahead: Can the Economy Shrug Off the Winter Doldrums?

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