Letting Inflation Run, Ultra Low Rates, School’s Out: Eco Day

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

  • The cost of moving freight from France to the U.K. surged to more than four times the usual level last week after Brexit and a virulent new strain of the coronavirus complicated supply chains
  • Chancellor Rishi Sunak should use tax and spending policies to address a widening economic gap between old and young in the U.K., according to a review being led by Nobel Laureate Angus Deaton
  • Bloomberg Economics tally the cost of shuttered schools
  • Central banks are set to spend 2021 maintaining their ultra-easy monetary policies even with the global economy expected to accelerate away from last year’s coronavirus-inflicted recession
  • The U.S. economic rebound headed into 2021 on uneven ground, with some measures getting a holiday boost and others deteriorating.
  • Federal Reserve Bank of Chicago President Charles Evans said the U.S. central bank shouldn’t be shy about letting inflation run, as it has promised, above its 2% target in order to make up for years of undershooting that goal
  • The U.S. could see an elevated death rate for more than a decade as the economic fallout from the coronavirus persists, underscoring the long-term health impact of the deep recession

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