Jackson Hole, Trump Economic Record, Canada Rebound: 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:

  • Federal Reserve Chair Jerome Powell headlines as this year’s virtual Jackson Hole economic policy symposium kicks off Thursday, with Bank of England Governor Andrew Bailey and European Central Bank chief economist Philip Lane also speaking
    • Every August, investors around the world obsess over what’s going on in the tiny Wyoming resort. This year they can listen directly
  • Donald Trump’s speech to close the Republican National Convention will seek both to reverse perceptions of his handling of the crisis and paint him as the best steward of an economic recovery
  • Canada’s economy suffered its worst contraction on record in the second quarter, official data is set to show on Friday, but the country appears to have rebounded strongly since the height of the pandemic
  • The current surge in the amount of money sloshing around in the euro zone is far from being a signal that the European Central Bank should guard against inflation
  • Germany extended another crisis tool to prevent corporate bankruptcies, a move that critics say will store up bigger problems later for Europe’s largest economy
  • Switzerland’s economy saw less damage from the coronavirus lockdown than its larger neighbors, recording a smaller-than-expected contraction in the second quarter
  • The European Union’s trade chief, Phil Hogan, stepped down after growing criticism that he broke virus regulations in his native Ireland
  • The world’s steepest deflation is set to linger across Gulf Arab states as the coronavirus pandemic broadens a slump in prices

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