Fed Job, Weaker Restaurants, Diverging Central Banks: Eco Day

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

• The White House is likely to nominate economist Philip Jefferson for a seat on the Federal Reserve’s board of governors, according to people familiar with the matter
• U.S. high-frequency data show restaurant spending, a proxy for Covid-sensitive services, sharply decelerating. The economy could hit a soft patch in the first quarter
• Global central banks are set to diverge in 2022, as some take on the menace of inflation and others stay focused on boosting economic growth. Read our latest guide here
• Turkey’s central bank posted an extraordinary daily profit of about $10 billion on the final day of 2021, sparking questions on what caused this overnight boon that will trickle down to the nation’s Treasury
• China’s factory activity expanded in December as production and sales picked up, though employment remained weak, a private gauge showed Tuesday
  • China could retain its tight border restrictions for the whole year as it prepares to host the Winter Olympics and a series of political events in 2022, Goldman Sachs Group Inc. said
  • Demand for Chinese products stands to get a structural lift from the Regional Comprehensive Economic Partnership, which kicked into gear in January
• German joblessness continued to fall in December before the country tightened restrictions to ward off a wave of infections sparked by the omicron variant

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