Used Cars, Biden Deal, U.S. Drought, Mexico Rates: Eco Day

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

  • President Joe Biden, eager for a bipartisan infrastructure deal, will welcome the Democratic and Republican senators crafting a $559 billion plan to the White House for talks Thursday, a crucial step toward moving his economic agenda through Congress
  • The record-breaking rise in used-car prices is probably coming to an end -- and with it a key driver of the recent spike in U.S. inflation
  • FOMC voters are looking more hawkish than median in 2022 but dovish in 2023, Bloomberg Economics shows
  • Summer in the U.S. begins with widespread drought already at historic levels across 11 states. Experts warn of worsening conditions once wildfires start
  • A shift toward tighter monetary policy is quickly taking shape across Latin America, with Chile signaling it is ready to raise its benchmark interest rate from a record low as soon as July
    • Mexico’s central bank is seen holding its key interest rate at a five-year low Thursday, as policy makers expect that recent price shocks will prove to be transitory. Here’s what Bloomberg Economics is expecting
  • Finally, check out the latest Stephanomics podcast to hear how China is attempting to defuse its demographic time bomb

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