Fed’s Whatever It Takes, Unemployment, Germany’s Slump: Eco Day

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

• The Federal Reserve vowed to use all its tools to support the recovery from an economic downturn that Chair Jerome Powell called the most severe “in our lifetime”
• Fiscal, education and health-care policies in the U.S. can do more than monetary policy to combat the higher unemployment rates experienced by Black Americans, Powell said
• Germany’s economy plunged into a record slump in the second quarter, when virus restrictions slammed businesses and households across Europe
• An increase in coronavirus cases is threatening southern Europe’s nascent tourism revival
• Australia is lowballing the price estimate for iron ore -- it’s largest export-- setting up a buffer for the economy
• The conditions for successfully implementing yield curve control are less favorable in the U.S., euro area and U.K. than they are in Japan, writes Bloomberg Economics’ Björn van Roye

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