U.S. Buckling, Fed Guidance, European Growth Signs: Eco Day

(Bloomberg) -- Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend:

• The official numbers have begun to confirm what many Americans feel in their bones: the economy is buckling once again. At the same time, lingering differences among Senate Republicans and the White House have stalled the rollout of their proposal for another pandemic relief package
  • Once the epicenter of the coronavirus pandemic in the U.S., New York City has been attempting a gradual return to normal. But the reopening is taking shape differently across boroughs -- driven largely by income and race
• Federal Reserve policy makers will most likely link their guidance on the future path of interest rates to inflation, and will reveal it by September, according to a Bloomberg survey
• As U.S.-China ties have deteriorated since the Covid-19 pandemic devastated the globe, the trade deal they signed in January has served as sort of a linchpin in the relationship. Now that also could be coming undone
• Europe’s economy is finally showing signs of growing again after months of an unprecedented slump caused by the pandemic, but warning signs abound
• U.K. retail sales jumped by a record in June as a lifting of coronavirus restrictions allowed more stores to open up
• The U.S. Mint is asking Americans to start spending their pennies, nickels, dimes and quarters to tackle what it says is a coin-supply snag
• A billionaire’s student debt gift of $34 million is the perfect economic experiment

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