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This Article is From Oct 28, 2021

U.S. Tax, Inflation Fight, Supply Squeeze, Debt Plan: Eco Day

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Welcome to Thursday, Americas. Here is the latest from Bloomberg Economics to help you start your day: 

  • President Joe Biden will go to Capitol Hill, hours before he departs for summits in Europe, to brief House Democrats on his economic agenda as a congressional deal to approve it remains elusive
    • The head of the House tax-writing committee said a proposal to put a levy on the assets of billionaires won't be part of negotiations on President Joe Biden's social-spending bill, injecting new uncertainty into how Democrats will pay for the president's agenda
  • NYC's once-thriving Asian businesses struggle to recover
  • The European Central Bank is expected to hold policy unchanged when its latest decision is announced at 7:45 a.m. Eastern Time -- follow our live blog
  • Brazil sees another 150 points interest rate hike in December
  • G-20 countries are struggling to agree on how to save a debt-relief program for poor nations hit hard by the coronavirus pandemic
  • As the cost of living surges all over the world, governments aren't leaving the job of containing inflation to their central banks. They're responding in other ways too
    • Euro-area consumers are most worried about prices since 1993
    • Global supply chains will need an estimated $100 trillion in investment to achieve the planet's goal of net-zero carbon emissions over the next three decades, according to new research that pins as much as half of that price tag on small- to medium-size businesses
    • Chancellor Rishi Sunak's unexpected budget giveaway increased the prospects of a Bank of England interest-rate hike next week
      • Sunak's giveaways give BOE food for thought, Bloomberg Economics writes
      • The BOE will accelerate its efforts to ensure the financial industry is dealing with the risks from climate change next year
      • Bank of Korea floats green policy ideas, but without a timeline
      • On this weeks episode of Stephanomics, Hong Kong-based reporter Tom Hancock visits Evergrande to see how the company is trying to raise money and avoid default
      • ©2021 Bloomberg L.P.

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