Fed Watch, Brazil Rate Hike, Biden’s Asia Deal: Eco Day

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

Lisa Cook's backers argue she'll bring a fresh perspective to the Federal Reserve, but detractors say her academic work is too focused on race
- Fed officials have a message for investors ramping up 2022 interest-rate expectations: not so fast
- A reduction in the size of the Fed's balance sheet could hurt liquidity within the Treasury market, boost volatility and affect how different parts of the U.S. rates market are valued relative to one another, according to Goldman Sachs Group Inc.
The Biden administration will share more details about its work on an economic framework agreement with Asian nations in the coming weeks, according to a top trade official
Brazil's central bank is expected to lift the benchmark interest rate above 10% for the first time in nearly five years
Chile's government will need to raise revenue to cope with growing “social pressures,” according to one of the nation's top economic policy makers
A former central bank economist educated in the U.K. was sworn in as Peru's new finance minister on Tuesday, potentially calming the nerves of investors alarmed by recent political turmoil.
Euro-area inflation unexpectedly accelerated to a record in the latest challenge to the European Central Bank's less aggressive plan to pare back pandemic stimulus than its counterparts in the U.S. and the U.K.