Fed & Brazil Rate Decisions, OECD Raises Forecasts: Eco Day

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

• Federal Reserve officials, who recently unveiled a more relaxed strategy on inflation, have an opportunity Wednesday to back up the plan with details as they look to accelerate the U.S. economic recovery

  • Here’s what Bloomberg Economics expects
• Brazil is set to hold its benchmark interest rate steady at an all-time low as family consumption firms and price pressures emerge following the economic blow from the pandemic
• The global economic slump won’t be as sharp as previously feared this year, though the recovery is losing pace and will need support from governments and central banks for some time yet, according to the OECD
• The World Trade Organization’s ruling that the U.S. violated international regulations by imposing tariffs on more than $234 billion of Chinese exports failed to dissuade Washington of its ‘America First’ trade policy and will do little to alter the current trade environment
• Judy Shelton, President Donald Trump’s controversial nominee for the Fed board, doesn’t yet have enough support in the Republican-controlled Senate to win confirmation, said Senator John Thune, the chamber’s No. 2 GOP leader
• Finance Minister Chrystia Freeland vowed to preserve Canada’s reputation for sound fiscal management as her government considers the next steps to drive the recovery
• Argentina is further tightening the screws on its foreign exchange market in an attempt to restrict demand for U.S. dollars as reserves dwindle

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