Global Tax Deal, Yellen on Rates, Student-Loan Cliff: Eco Day

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Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • The G-7 secured a landmark global deal that could help countries collect more taxes from big companies and enable governments to impose levies on U.S. tech giants such as Amazon and Facebook
  • President Biden should push forward with his $4 trillion spending plans, even if they trigger inflation that persists into next year and higher interest rates, Treasury Secretary Janet Yellen said
  • A student-load cliff is nearing for more than 40 million in the U.S., as a pandemic freeze on payments looks set to end in October
  • When the ECB unveils the results of its grand strategy review this year, there will be a stark contrast from the Federal Reserve: Inequality in the labor market looks likely to get much more subdued treatment in Frankfurt
  • A quarter of a century after declaring the death of inflation, economist Roger Bootle is seeing signs of its rebirth
  • A big portion of consumer deposits at retail banks could shift to digital currencies if governments start offering them, the Bank of England indicated in a discussion paper
  • German factory orders dropped in April, signaling that mounting supply shortages and higher prices are undercutting economic recovery
  • China’s exports continued to surge in May, although at a slower pace than the previous month, fueled by strong global demand
    • Meanwhile, Chinese consumers remain cautious, offering clues for global spending patterns ahead
  • Finally, here’s what’s to look out for in the world economy this week

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