Backing for Powell, Manhattan Rents, ECB Decision: Eco Day

Written by
Alexander Weber
Written by

Alexander Weber

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

Biden has an opportunity to usher in an era of greater diversity on the central bank's governing board
- A senior Democrat on the Senate Banking Committee endorsed Federal Reserve Chairman Jerome Powell for another term, countering pressure from some House progressives for President Joe Biden to pick a nominee more in line with their positions on regulation, inequality and climate risks
Treasury Secretary Janet Yellen's team doesn't see prioritizing payments to creditors as an option should the U.S. government exhaust its traditional measures to avoid a default induced by the debt limit
Rents are climbing again in Manhattan -- but only in buildings with doormen. The median price of those apartments, in fancier towers with more amenities, jumped 8.1% in August
When it comes to raising interest rates to cool off pandemic inflation, Latin America's central banks have been near the front of the global pack. They're also among the worst-equipped for that task
- Brazil's central bank will need to “act fast” to prevent a further deterioration of the country's inflation expectations, its President Roberto Campos Neto said
- Mexico's plan to tap a $12 billion windfall from the International Monetary Fund to repay public debt will need time before it can be carried out, Finance Minister Rogelio Ramirez de la O said in an interview
  - Mexico's new finance minister proposed a slight loosening of President Andres Manuel Lopez Obrador's austere fiscal belt, with a slightly-less conservative budget for 2022
  - China's factory-gate inflation accelerated to a 13-year high, adding to the pressure on global consumer prices which have been pushed up by a commodities boom, soaring shipping costs and an uneven economic recovery from the pandemic
  - Brexit and Covid are helping to deliver a long-promised blue collar wage boom in the U.K.
  - It's ECB rate decision day today --- follow our TOPLive blog