U.S. Interest Rates, Unemployment, Elevator Economics: Eco Day

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

• While Jerome Powell isn’t considering raising interest rates, investors still wonder what it would take for the Fed chair to start taking his foot off the gas
• Goldman Sachs economists revised down their estimates for the U.S. economy this quarter, but predicted it will be back on track in September
• U.S. Labor Secretary Eugene Scalia said the economic recovery from coronavirus has been better than expected and it won’t be necessary to extend and emergency unemployment program that ends this month
• The coronavirus is inflicting a price shock on low income Americans that risks further driving up inequality
• Beneath the summer doldrums, traders are bracing for more drama ahead and searching for the next edge based what they expect the Fed will do
• The world economy is entering the second-half of 2020 still deeply weighed down by the coronavirus pandemic with full recovery now ruled-out for this year and even a 2021 comeback dependent on a lot going right
• Argentina presented an improved debt offer to restructure $65 billion of foreign bonds in an attempt to reach a deal with its creditors after more than two months of stalled talks
• The giants of Wall Street and European banking are giving up their stronghold on London and not just because of coronavirus
• Finally, here’s our preview of what to watch this week: Inflation Retreat in Latin America Put to Test: Eco Week Ahead

©2020 Bloomberg L.P.