U.S. Covid Response, Business Spur, Mexicans Head North: Eco Day

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

  • U.S. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell will enter a heatedly partisan arena on Tuesday to kick off two days of congressional hearings assessing the economic policy response to the Covid-19 crisis
  • The velocity of the U.S. economy’s post-pandemic rebound hinges on more than just an increasingly capable consumer, and business spending appears poised to deliver its own boost
  • Swelling numbers of Mexicans are heading north across the border, propelled by a deep economic crash and drawn by promises of a stimulus-fueled resurgence in the U.S. The Biden administration is considering as much as $3 trillion worth of measures to include in its long-term economic program
  • U.K. companies have started hiring in anticipation of an end to the coronavirus lockdowns, holding back the overall rate of unemployment
  • Germany postponed plans to reopen Europe’s largest economy to try to defuse a “third wave” of Covid-19 infections. In Italy, another hard lockdown will deepen the economic contraction, but brighter times are not far off, according to Bloomberg Economics.
  • With President Recep Tayyip Erdogan’s sacking of his third central bank governor in less than two years, Turkey’s dominant political leader of the past century has demonstrated yet again his determination to fight the conventions of modern economics
  • It’s rate decision day in Hungary

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