Stimulus Deadlock, Senate Fed Vote, Biden China Policy: Eco Day

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

  • House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell each took a stab at breaking the deadlock over a new stimulus, but it wasn’t clear that either side budged enough to get a deal in the short time Congress has left to act
  • The Senate is set to vote Wednesday to advance the nomination of Christopher Waller to the Federal Reserve Board, but Majority Leader Mitch McConnell hasn’t indicated he’ll try to revive the confirmation of President Donald Trump’s other Fed nominee, Judy Shelton
  • The U.S. should ratchet up its demands of China to include equal access for companies and media, stricter monitoring of Beijing’s activities at the United Nations and preventive action to safeguard American interests in technology and finance, a bipartisan panel told Congress on Tuesday
    • President-elect Joe Biden told the New York Times he’d leave the phase-one trade deal with China in place while he conducts a full review of U.S. policy toward its Asian rival in consultation with key allies
  • Heather Boushey, named by Biden as a member of his Council of Economic Advisers, was criticized on Tuesday by a former employee who alleged she was pushed out of her job after publishing a blog post that Boushey didn’t like
  • The Covid-19 pandemic was supposed to put the final nail in the coffin of globalization and prompt a retreat into a new era of protectionism. Instead, some are now calling the crisis the Great Accelerator
  • The top bureaucrat at Canada’s finance ministry announced he is leaving his post a day after Justin Trudeau’s government unveiled an update on hundreds of billions in emergency Covid-19 spending

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.