Yellen’s New Role, $600 Aid Checks Fall Short, EU Plan: Eco Day

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your Tuesday started:

  • U.S. Treasury Secretary nominee Janet Yellen on Tuesday steps into a new role following more than a quarter-century in government: salesperson for economic policy after years of defending Federal Reserve thinking and actions
  • As a second round of government stimulus checks starts to reach Americans, more than half in a survey say that it’s just not enough
  • The European Union is set to unveil its plan to strengthen the international role of the euro as it seeks to erode the dominance of the U.S. dollar and to insulate the bloc from financial risks, including U.S. sanctions
    • The bloc also needs to find new ways to recapitalize businesses so that the hole on corporate balance sheets doesn’t derail the recovery, according to a financial-industry group
  • The coronavirus has exposed the “catastrophic effects” of ignoring long-term risks such as pandemics, and the economic and political consequences could cause more crises for years to come, according to the World Economic Forum
  • Governments should prioritize seafarer vaccinations against Covid-19 to help keep global supply chains operating smoothly, according to the International Chamber of Shipping

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