Racist Legacy, Climate Pressure, Fiscal Spending: Eco Day

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

  • As the pandemic slammed the Black community and amplified the conversation around racism in America, the economics profession grappled with an uncomfortable truth: that its historical roots and practices today are mired in systemic racial bias
    • The Federal Reserve -- the nation’s foremost economic institution and the largest employer of doctorate-level economists -- is hosting a conference on racism in economics on Tuesday
  • Microsoft Corp., Walmart Inc., Apple Inc. and hundreds of other companies are asking President Joe Biden to update the U.S. pledge under the Paris climate accord to cut U.S. greenhouse gas emissions by at least 50%, arguing that the future of the economy is at stake if climate change isn’t adequately addressed
  • Optimism among U.S. small businesses rose in March to a four-month high as owners anticipated stronger sales and more opportunities to expand
  • For the first time since the pandemic began, Canada has passed a grim milestone, with more new Covid-19 cases per capita than the U.S
  • Brazil’s economic team is mulling proposing a new constitutional amendment that could free up more money for Covid spending, according to people familiar with the matter
  • Peruvian stocks dived after initial results from Sunday’s presidential election unexpectedly showed a little-known school teacher whose party praises Cuba’s former leader Fidel Castro in first place
  • Vladimir Putin wants to get Russia’s economy growing again after the pandemic with a burst of spending. His government is working overtime to find the money to pay for it
  • The U.K. economy rebounded in February as a mass vaccination program and the prospect of a loosening of coronavirus restrictions lifted consumer confidence
  • Investor confidence in Germany’s economic recovery unexpectedly deteriorated after the government signaled a further tightening of pandemic restrictions
  • China’s trade jumped in March, a sign that the global recovery from the Covid-19 pandemic is well on track as vaccine rollouts around the world pick up pace.
  • A surging U.S. economy on the back of massive stimulus and pent-up demand will benefit exporters in Asia, with Vietnam receiving the biggest windfall, according to Bloomberg Economics

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