Sprint to Slog Recovery, Job Cuts, Stimulus Talks: Eco Day

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

• President Donald Trump signed stopgap spending legislation early Thursday to avert a government shutdown weeks before the presidential election, the White House said
• U.S. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi plan to resume discussions Thursday on a new pandemic relief package, racing against the clock to resolve their differences on another round of coronavirus stimulus
• The best is already over for a global economic recovery that started off at a sprint and is turning into a slog
• The Federal Reserve has extended through the rest of the year its unprecedented constraints on dividend payments and share buybacks for the biggest U.S. banks
• In the U.S., which has suffered more Covid-19 deaths than any other nation, the economy entered its worst downturn in generations. Although central bank stimulus and government programs such as the Paycheck Protection Program have helped cushion the blow, a return to growth will depend on the creativity and resilience of millions of entrepreneurs and business managers
• The Trump administration plans to announce an investigation into Vietnam's currency practices, according to three people familiar with the matter
• Tens of thousands of job cuts announced by blue-chip companies in a 24-hour period are a warning sign for the world's recovery and emerge just ahead of two key reports forecast to show limited progress in the U.S. labor market
• European Central Bank policy maker Pablo Hernandez de Cos added his support to arguments for a Federal Reserve-style strategy that allows officials to temporarily overshoot their inflation goal

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