U.S. Industrial Policy, Inflation Threat, Brazil Aid: Eco Day

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

  • Joe Biden’s ambitious plan to reinvigorate manufacturing may be powerless to alter a trend in which the U.S. never fully recoups blue-collar jobs lost in recessions
    • Republicans are invoking the threat of inflation to attack Biden’s spending plans, after he won approval for $1.9 trillion in virus relief ahead of a broader recovery package that may cost even more
    • Stock markets have been roiled by spikes in Treasury yields, which might signal some fundamental changes in the economy
    • Biden got his giant coronavirus stimulus bill: Now, he wants to make sure he gets credit
  • Stacey Tevlin is the most important person in U.S. economics that you have probably never heard of. Here’s what she is thinking about

    • Nellie Liang, President Biden’s pick to serve as the Treasury’s undersecretary for domestic finance, isn’t waiting to be formally nominated before beginning the task of strengthening Wall Street oversight
  • Brazil’s lower house of congress backed a $7.5 billion Covid aid bill in a first vote, hours after Latin America’s largest economy posted a record virus death toll for a single day
  • After markets gyrated in March 2020, the U.S. Federal Reserve pumped trillions of dollars into a financial system rocked by the coronavirus pandemic. Here’s why that break for banks now has the Fed in a bind
  • You’d think a world tiptoeing its way out of the coronavirus pandemic might only be good news for governments and economies -- but the consequent surge in the price of energy, metals and crops is highlighting the strengths of some and the vulnerabilities of others
  • It’s ECB rate decision day today --- follow our TOPLive blog

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