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This Article is From Feb 02, 2021

Fed Dissent, Longer Work Days, Brazilian Stimulus: Eco Day

Fed Dissent, Longer Work Days, Brazilian Stimulus: Eco Day

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

  • President Joe Biden and congressional Democrats signaled they're intent on a large pandemic relief bill, potentially without Republican support, even after a White House meeting with GOP senators on Monday that both sides described as productive
    • Some Democratic lawmakers are pushing to add so-called automatic stabilizers to Biden's stimulus proposals
    • Wealth effects from rising asset values look set to give the largest boost to U.S. consumer demand in 25 years, according to Bloomberg Economics
  • It's only a question of time before the discussion resumes about scaling back massive Federal Reserve asset purchases
  • A longer work day has become the new normal in the U.S. and other countries as the pandemic drags on and employees continue to work from home
  • Brazil's President Jair Bolsonaro breathed new life into the second half of his mandate as candidates he supported will preside over both houses of Brazil's congress
    • Deciding whether to provide another round of Covid stimulus will be one of lawmakers' first tasks as they resume work
    • The euro-area economy shrank less than expected at the end of last year, though it remains on the verge of a double-dip recession amid a slow rollout of coronavirus vaccines
    • When the ECB ends its asset purchases, Italy could face concerns about debt sustainability, according to an analysis by Bloomberg Economics' David Powell
    • ©2021 Bloomberg L.P.

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