Fed Monetary Pledge, U.S. GDP Day, European Confidence: Eco Day

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

  • Declaring that the battle against Covid-19 is not over, Federal Reserve Chairman Jerome Powell pledged to keep the monetary spigots wide open to aid the pandemic-hit economy
  • Last year brought an unprecedented health crisis and historically swift contraction but should end on a relatively positive note, Bloomberg Economics says ahead of GDP data
  • U.S. Treasury Secretary Janet Yellen talked with her U.K. and German counterparts about resolving mushrooming disputes over the taxation of internet giants such as Facebook Inc.
  • Economic confidence in the euro area fell in January, after governments extended Covid restrictions and vaccination campaigns got off to a slow start
  • Meanwhile, the European Central Bank is ready to use all the tools necessary to stimulate inflation, one Governing Council member said

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