Do-or-Die Stimulus, Race Bias Cost, U.S. House Prices: Eco Day

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

  • After months of on-again, off-again talks on an increasingly needed fiscal-stimulus package, Tuesday is shaping up as a do-or-die moment for Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi to get a virus relief deal done in time for Election Day
  • Slowing U.S. employment gains and an increased proportion of permanent layoffs could undermine the economic recovery with disproportionate harm to minorities, said Federal Reserve Bank of Atlanta President Raphael Bostic
  • Dana Peterson, who was a Citigroup global economist, found $16 trillion when she tallied the cost of race bias. She recalled her own experiences of bigotry while researching how gaps between Black and White Americans eat into economic output
  • With New Yorkers rushing to the suburbs, Fairfield County, Connecticut -- the home of Greenwich -- suddenly has the fastest-rising real estate prices in the U.S.
  • Advances in automation technology threaten a significant share of jobs in industries accounting for nearly a quarter of the global workforce, according to Bloomberg Economics’ estimates

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