Fed’s White Men, U.S. Bankruptcies, Trade War Redux: Eco Day

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

  • Federal Reserve Chair Jerome Powell has said that there’s no room for racism at the central bank and that diversity and inclusion are a “very high priority.” Yet a close look at the Fed’s own makeup shows that his institution still has a lot of work to do on that front.
  • Escalating tensions between the U.S. and China mean fresh barriers to trade, capital, and people flows are poised to add a drag on growth, and one that will stay in place no matter who wins the November presidential election, according to Bloomberg Economics
  • Joe Biden will begin rolling out his plan on Thursday to repair the U.S. economy as he seeks to improve his standing with voters on one of the few issues where he lags President Donald Trump
  • Manhattan’s rental market is starting to show the damage from a pandemic-fueled exodus
  • More than 110 companies declared bankruptcy in the U.S. this year and blamed Covid-19 in part for their demise
  • Argentina’s bondholders shouldn’t expect any more improvements or changes to the country’s debt restructuring proposal, Economy Minister Martin Guzman said
  • Brazil’s aggressive push to reopen businesses before controlling the coronavirus pandemic is so far yielding only modest gains, with industrial output and retail recovering just part of their historic losses
  • Women who perceive workplace discrimination over their pregnancies are more likely to suffer stress and postpartum depression and to have babies that are born prematurely and with low birth weights, according to a study in the Journal of Applied Psychology
  • Finally, don’t miss this week’s episode of the Stephanomics podcast: What Wuhan Can Teach Us About Recovery

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