Fed Decision, Abortion Rollback, India’s Surprise Hike: Eco Day

(Bloomberg) -- 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 is poised to unleash the U.S. central bank's most aggressive action to battle inflation in decades, but investors will be focused on parsing his words to see if even bigger moves are ahead
• Overturning Roe v. Wade risks widening economic inequality in the U.S., threatening decades of gains for women in places where abortion could be all but banned
• The repercussions of China's lockdown would need to get much worse to knock the Fed off its tightening path, according to an analysis by Bloomberg Economics
• Toronto home prices declined for the second straight month as higher borrowing costs start to bite in what has been one of the world's hottest housing markets
• Brazil's central bank is expected to raise its key interest rate by 100 basis points and indicate whether that hike marks the end to one of the world's most aggressive monetary-tightening cycles since the pandemic
• India's central bank raised rates in a surprise move Wednesday, sending bonds and stocks tumbling, as it intensified the battle against inflation that's outpaced its expectations for much of the year. Iceland's central bank also hiked borrowing costs, delivering its biggest move since the 2008 financial crisis
• Pay for financial services workers in the U.K. has surged at double the pace for the rest of the economy since the pandemic began, widening inequality at a time when consumer spending power is being squeezed

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