Make-or-Break Moment, Rolling Shutdowns, Recovery Gauge: Eco Day

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

  • The world’s ability to check the coronavirus contagion and fully recover from the worst peacetime recession since the Great Depression may depend on what international economic policy makers decide this week
  • Federal Reserve Vice Chairman Richard Clarida said the central bank has the tools needed to keep the U.S. out of a deflationary trap, even as the coronavirus deals a severe hit to the economy
  • Without an effective therapy or a vaccine for the novel coronavirus, the U.S. economy could face 18 months of rolling shutdowns as the outbreak recedes and flares up again, Federal Reserve Bank of Minneapolis President Neel Kashkari said
  • The strength or weakness of the country’s rebound, whenever that comes, will be heavily influenced by actions taken today and over the coming months: economists point to three crucial areas they say will matter most
  • Congress faces intense pressure to negotiate an interim rescue package this week as the impact of the coronavirus pandemic accelerates across the country
  • Top trade officials in the U.S. and European Union seem poles apart on whether nations should move production home or not as the coronavirus causes supply shortages on both sides of the Atlantic.
  • China’s ambassador to the U.S. said his country is still implementing the first phase of a trade agreement signed with the U.S. earlier this year and called for both nations to assess the changing situation as the coronavirus presents global economic challenges
  • Gross domestic product in the Latin America and Caribbean region, excluding Venezuela, is expected to shrink 4.6% in 2020, according to the World Bank
  • Finally, here’s our preview of the world economy this week

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