ECONOMY

Biden’s Relief Debate, Fed Policy, U.S.-U.K. Tariffs: Eco Day

  • The Senate enters the final stages of debating President Joe Biden’s $1.9 trillion pandemic relief bill on Thursday, with passage in the chamber likely pushed off until the weekend
  • Federal Reserve Chairman Jerome Powell will probably seek to convince suddenly skeptical financial markets on Thursday that the central bank will be ultra-patient in pulling back its support for the economy
    • The more Powell tries to reassure people that inflation isn’t a big problem, the more he alarms those who think he’s dangerously wrong, according to Bloomberg’s Peter Coy
    • The Fed says the U.S. economy expanded modestly in the first two months and sentiment among business owners is picking up as vaccinations bolstered the prospects for economic growth
  • The U.S. will suspend retaliatory tariffs on U.K. products caught up in the longstanding dispute over illegal aid to Boeing Co. and Airbus SE in a boost for post-Brexit Britain’s trade agenda
  • Mexico’s central bank improved its outlook for Latin America’s second-largest economy, saying it will grow faster than expected this year after a recovery at the end of 2020
  • Bloomberg Economics says the new U.K. government budget extends significant near-term support to help drive the recovery
    • The U.K.’s go-big budget masks spending cuts seen as austerity 2.0

  • China begins its biggest political meeting of the year Friday, laying plans that could propel the economy into the world’s biggest this decade
  • The overwhelming power of Taiwan and South Korea in chips is adding urgency to calls in the U.S. for the country to beef up its manufacturing capacity

Continue Reading. Read more on OnWeb by BloombergQuint.

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