U.S. Housing Mess, G-7 Corporate Tax Deal, Rate Hikes: Eco Day

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

  • With a possible eviction crisis looming and home prices spiraling further out of reach for many buyers, Joe Biden’s administration is pushing for the biggest federal housing investment in decades
  • A global agreement that could reshape the tax landscape for the biggest corporations is approaching a crucial first stage as the Group of Seven nations hone in on an accord that might feature both a minimum rate and encompass digital giants
  • Washington moved to set up a dispute panel to review Canada’s dairy quotas, which the U.S. alleges undermine the ability of American dairy exporters to sell a range of products to Canadian consumers
  • Slowly but surely, central banks are tip toeing away from their emergency monetary settings
    • Central bankers around the world are mulling the future of their massive bond-buying programs in a post-pandemic world, knowing that with big balance sheets come big expectations
  • With only months left on their current terms, Federal Reserve vice chairs Randal Quarles and Richard Clarida were reminded that their time in office may be drawing short
  • The heads of Brazil’s lower house and senate agreed a strategy to speed up the approval of a long-delayed overhaul of the country’s tax code
  • China’s strong economic momentum eased slightly in May, as surging raw material prices squeezed profits, businesses turned more cautious and property and car sales underperformed
  • From tropical island resorts to Outback whiskey makers to mountain ski fields to inner city coffee shops, Australian businesses are struggling to recruit the staff they need to service cashed up clients
  • They’re called the Sampo Generation: South Koreans in their 20s and 30s who’ve given up (po) three (sam) of life’s conventional rites of passage -- dating, marrying, and having children

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