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Welcome to Thursday, Americas. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- It's U.S. GDP day -- here's what to expect
- Americans are increasingly pessimistic about their finances as inflation takes a toll
- U.S. President Joe Biden's picks for Federal Reserve posts won't be confirmed until Democrats recovering from Covid-19 return
- The U.K. should focus on closer cooperation with the U.S. to bolster its finance industry following Brexit and move on from attempts to push for access to European Union markets, according to a report by two think tanks
- Ex-Bank of England official Adam Posen says there's no chance of a U.S.-U.K. trade deal and Brexit explains 80% of Britain's inflation problem
- Bloomberg Economics sees another back-to-back hike from the BOE next week
- Spanish inflation slowed more than anticipated on power costs
- Turkey is set to raise inflation forecasts after consumer prices surged to nearly three times its initial estimate, with the central bank doubling down on a cheap borrowing policy that's left it out of step with the global economy
- China's State Council pledged aid for the unemployed as the pandemic threatens the economy
- The Bank of Japan sparked a sharp slide in the yen against the dollar after it held its ground against a global wave of interest-rate hikes and left its monetary stimulus unchanged, indicating that faster price growth in the coming year won't last
- Finally, check out this week's Stephanomics podcast on the looming debt crisis that's about to make everything worse
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