Stimulus Boost, Canada Rate, U.S. Tax Code’s Race Bias: Eco Day
(Bloomberg) -- Welcome to Wednesday, America’s. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- The House is poised to send the $1.9 trillion Covid-19 relief plan to President Joe Biden for his signature, providing an economic boost that will last long after $1,400 stimulus checks start arriving in Americans’ accounts this month.
- Biden’s soon-to-be-unveiled longer-term economic stimulus package is set for far tougher obstacles in Congress than the pandemic-relief bill that’s on the verge of squeaking through
- The Bank of Canada could soon start pulling back stimulus, with the first clues on its next moves coming as early as today
- Mexico has run one of the world’s most austere budgets through the Covid-19 crisis, declining to borrow extra money as the economy slumped. The stimulus that prevented an even deeper recession, and is set to drive a rebound this year, is coming from the U.S. instead
- The rate the Federal Reserve targets to control monetary policy is defying the skeptics by holding firmly above zero, prompting a rethink from those who thought the central bank might need to step in and tinker with the front end
Generations of White lawmakers have optimized the tax code for White Americans. The result? Black Americans end up paying more than White Americans with the same incomes
- After a strong pickup in February, most major advanced economies made a lackluster start to March, according to Bloomberg Economics gauges
- European Central Bank officials are taking a leaf from former President Mario Draghi’s playbook as they ask if recent market moves amount to “unwarranted tightening” that requires action
- Friction at the U.K. border is rising again following Brexit as shipping companies rejected more cargoes due to cross the English Channel from France
- China’s producer prices rose at the fastest pace in more than two years in February, while inflation strengthened, with consumer price declines slowing and producer price gains accelerating
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