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Welcome to Wednesday, Americas. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- Federal Reserve Chair Jerome Powell will try to reassure lawmakers today that the central bank will act to curb the hottest inflation in four decades while remaining flexible
- Wall Street is still betting on seven hikes this year
- The Bank of Canada is expected to start a series of interest rate increases to wrestle inflation down from a three-decade high
- President Joe Biden said that his top priority is controlling inflation, pitching elements of his stalled “Build Back Better” program as a means to temper the surge in prices that's costing support
- Argentine President Alberto Fernandez said his government reached an agreement with the staff of the International Monetary Fund on some details needed to refinance the country's loan
- Euro-zone inflation quickened to an all-time high, outstripping expectations
- A Deutsche Bank strategist said the European Central Bank should intervene to buy euros
- Bloomberg Economics' looks at who loses as Russia financial flows freeze
- Finally, here's how Russia's widening assault on Ukraine complicates the movement of cargo between Europe and Asia
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