Delta Threat, Benefits Ending, Colombian Inflation: Eco Day

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

• The pandemic’s summer resurgence is slowing the global economic recovery as the delta variant dogs efforts to rev up factories, offices and schools. Data over the past week captured a worldwide weakening as infections hit travel and spending and worsen supply bottlenecks
• For millions of Americans, the Labor Day weekend brings the end of federally funded emergency unemployment benefits and a lurch into the uncertain economic recovery
  • U.S. employment disparities along racial and ethnic lines narrowed in August, according to a key metric favored by Federal Reserve
• A senior White House adviser expressed confidence that a key Democratic senator who raised objections to President Joe Biden’s $3.5 trillion tax and spending package can eventually be persuaded to give his backing
• Colombian inflation breached the upper limit of its target range for the first time since 2017, meaning that every major economy in Latin America is now missing its inflation goal
• Goldman Sachs expects Peru’s central bank to accelerate the pace of interest rate hikes, increasing borrowing costs to 1% next week amid deteriorating inflation expectations and political uncertainty
• Brazil temporarily suspended beef exports to China after two “atypical” cases of mad cow disease were reported in Minas Gerais and Mato Grosso states
• China’s push for “common prosperity” is not just about taxing the rich but also directing resources into rural areas and the lower-income group, according to one of the country’s most prominent experts studying income inequality
• Finally, here’s what to look out for in the world economy this week

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