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Dovish Powell, Brazil Goes All-In, Global Rebound: Eco Day
Dovish Powell, Brazil Goes All-In, Global Rebound: Eco Day
18 Mar 2021, 04:41 PM IST
(Bloomberg) -- Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
Federal Reserve Chair Jerome Powell repeatedly stressed that the central bank won’t raise interest rates until the U.S. economy shows tangible evidence it has fully healed from Covid-19
- Powell faces a tough campaign to convince traders of the Fed’s resolve
- Bond traders ramped up bets on faster growth and inflation after Fed officials reiterated projections that they’ll hold rates near zero through 2023
- The global economy is poised for a solid rebound this year as vaccines and expansionary policies help repair damage from a pandemic that destroyed more than a quarter of a billion jobs, according to the United Nations Conference on Trade and Development
- McKinsey says the rebound in consumer demand from the Covid-19 crisis looks set to be fast but uneven, with those who were able to save money over the past year in a strong position to spend
- The $1.9 trillion American Rescue Plan that President Biden signed on March 11 is popular with Republican voters as well as Democrats
- Bloomberg Economics takes a look at what to expect out of the U.S.-China summit in Alaska, though the U.S. has cautioned not to count on a breakthrough
- The U.S. Senate confirmed Katherine Tai as U.S. trade representative by a 98-0 vote, a sign of support for the administration’s plans to push China to live up to trade commitments
- Brazil’s central bank chief Roberto Campos Neto didn’t only delivered the biggest interest rate increase in more than a decade but also signaled for the next meeting another hike of the same magnitude
- It’s rate decision day in the U.K. and Turkey
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