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Fed’s Continuity, Supply Chains Gone Wrong, Inflation: Eco Day
Fed’s Continuity, Supply Chains Gone Wrong, Inflation: Eco Day
23 Nov 2021, 06:55 PM IST
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Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- President Joe Biden gave the Fed’s autonomy a boost by renominating Republican Jerome Powell as chair
- Powell’s renomination means policy continuity and analysts see an increased likelihood of the Fed announcing an acceleration of the taper pace in December
- Powell faces a plethora of politically tricky economic problems with little precedent in the Fed’s 107-year history
- Lael Brainard, picked to be vice chair of the Fed, gives Biden a jobs ally alongside inflation hawks
- These choke points are keeping the global supply chain stuck
- ECB officials urged an end to emergency stimulus, highlighting inflation risks while insisting recovery can weather new pandemic restrictions
- Inflation shocks are spreading pain around the world, but nowhere is it as bad as in Latin America
- Mexico’s inflation is expected to reach 7% in December
- Paraguay’s central bank lifted its key interest rate to 4% as it seeks to combat inflation spillover to the broader economy
- Chile’s bonds jumped as the first round of presidential elections halted a two-year shift among voters to the political left
- The number of Canadians searching for work surged last month -- just as pandemic-related support programs were wound down
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