U.S. Infrastructure, Fed Taper Talk, Uruguay Inflation: Eco Day
Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- U.S. Trade Representative Katherine Tai and China’s Vice Premier Liu He had a “candid” first conversation as the two sides try to resolve some of their differences on trade
- Meanwhile, the White House’s top official for Asia said the U.S. is entering a period of intense competition with China
- Migrants from the pandemic and hurricane-hit Northern Triangle economies have no time for Joe Biden in their quest for a better life in the U.S.
- Uruguay’s central bank chief pledged to pivot away from its expansive monetary policy when appropriate to tame chronically high inflation, a chance to shore up its credibility
- Fed Vice Chairman for Supervision Randal Quarles said that it will be important for the central bank to begin discussing in coming months plans to reduce its massive bond purchases if the economy continues to power ahead coming out of the pandemic
- Take a road trip from New York to California with Bloomberg CityLab to see infrastructure projects that could make cities more liveable and equitable
- Scrapping the Tokyo Olympics would inflict further damage on a Japanese economy already teetering on the brink of a double-dip recession, according to economists
- The Group of Seven meeting of finance officials in London next week must strike an agreement to corral the rest of the world into changing how much tax multinationals pay and where, French minister Bruno Le Maire said
- In China, reticence among corporates to invest could slow the pace of economic growth this year and prolong a shortage of goods being felt around the world as demand picks up
- Women are getting more jobs than ever in changing Saudi Arabia
- Finally, check out this week’s Stephanomics podcast, which digs into the decades-long economic slide in Youngstown, Ohio, and the flailing attempts to revive it
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