This Time is Different, Powell Warning, Immigrant Jobs: Eco Day

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

• Harvard’s Carmen Reinhart and Kenneth Rogoff -- experts on the history of government defaults, recessions, bank runs, currency sell-offs, and inflationary spikes -- say this time really is different
• The U.S. economy will recover from the coronavirus, but the process could stretch until the end of 2021 and depend on a vaccine, Fed Chairman Jerome Powell said
  • He’s expected to step gently onto Congress’s turf in testimony this week with a message to spend more
• The pandemic is reshaping the job market for millions of immigrants in the U.S.
• Canada’s federal government remains in a strong position to contend with the economic impact of the coronavirus and accompanying lockdowns, according to Bloomberg Economics
• The German economy should start its recovery in the course of the second quarter as restrictions are gradually lifted, the Bundesbank predicts
• The Bank of England is more urgently examining unconventional monetary policy measures, its chief economist said. Economists expect an increase in asset purchases at policy makers’ next meeting
• Japan has sunk into recession, and it’s only likely to deepen further as the full force of the virus hits globally
• Finally, here’s our preview of what to watch this week

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