U.S. Inflation Fears, Food Jobs, Argentina’s IMF Plea: 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:

  • Inflation fears are fueling a political threat to President Joe Biden’s plans for vast new federal spending on infrastructure and social programs
  • Despite federal aid, employment in the U.S. food service industry is unlikely to return to pre-pandemic levels for the foreseeable future
  • The U.S. economy is on the road to recovery but it’s premature to discuss reducing monetary policy support, according to a chorus of Federal Reserve officials
  • Argentina’s President Alberto Fernandez urged the International Monetary Fund to suspend so-called surcharges applied by the multilateral lender to countries that use its credit lines extensively
  • The European Commission upgraded its growth outlook for the currency bloc this year to 4.3% from 3.8%, after taking into account the European Union’s 800 billion-euro ($971 billion) joint recovery fund
  • The U.K. economy gained momentum in March as Britons geared up for the lifting of coronavirus restrictions
  • Chinese manufacturers are starting to pass on their rising input costs to overseas customers, adding to global inflation pressures
  • Bloomberg Economics says that China’s once-a-decade census shows its population will likely peak by 2025, which could wipe out the demographic dividend that had helped propel the country’s economic ascent

©2021 Bloomberg L.P.

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