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Yellen Lauds Powell, Biden Plan, Big Central Banks Week: Eco Day
Yellen Lauds Powell, Biden Plan, Big Central Banks Week: Eco Day
01 Nov 2021, 06:18 PM IST
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Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- Treasury Secretary Janet Yellen said she believes Federal Reserve Chair Jerome Powell has taken “significant action” in the wake of revelations over the personal investments of U.S. central-bank policy makers
- Yellen also dismissed recent moves in the bond market that have signaled concern about monetary-policy makers squelching economic growth, and expressed confidence in the continuing recovery from the Covid-19 pandemic
- President Joe Biden’s economic agenda appears on track for passage by Congress even as Democrats are still skirmishing over lingering differences on a $1.75 trillion social-spending plan
- Bank of England policy makers are heading into their meeting this week knowing that failure to deliver a once-unthinkable interest-rate hike would now raise serious questions over their credibility with markets
- Germany’s probable next coalition is battling over the future role of the Bundesbank in Europe
- With inflation in developing nations now exceeding expectations by the most in more than a decade, assets backed by central banks that are getting ahead of price pressures are enticing fund managers more than ever
- As talks among world leaders get underway at the United Nations COP26 climate summit in Glasgow, it’s clear that a rapid reduction in carbon emissions is vital to keep temperature increases below 2 degrees Celsius and prevent the worst consequences of climate change. Bloomberg Economics takes a look
- Finally, here’s what to look out for in the world economy this week: The Federal Reserve and global counterparts are poised to take center stage in three days of monetary action that will reveal whether they share investors’ alarm about surging inflation
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