U.S. Payrolls, Bailey’s Gradualism, Fed Nominees: Eco Day

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Welcome to Friday, Europe. Here's the latest news and analysis from Bloomberg Economics to help you start the day:

Between omicron, revisions and big seasonal factors, Friday's U.S. jobs report is poised to be a bit of a doozy
- The January employment report, as weak as it may look, most likely will not derail Fed rates liftoff in March
European Central Bank President Christine Lagarde is no longer ruling out an interest-rate hike this year
Bank of England Governor Andrew Bailey said he favored moving interest rates gradually instead of delivering an unexpected shock to get inflation under control
- Bailey called for workers to hold off on demands for higher pay, saying the nation needs to focus on keeping inflation in check
- Global bond markets are being swept up in a fresh wave of selling as monetary policy normalization bets deepen everywhere
- Two of President Joe Biden's nominees to the Federal Reserve could face a tough battle for confirmation after Republicans questioned their commitment to price stability and to keeping the Fed away from climate rules
  - Fed nominees all show a commitment to fighting inflation in accordance with Fed mandates, says Bloomberg Economics
  - Slow progress on a plan to help poorer countries restructure their debts is spurring concern, as a $35 billion bill comes due and U.S. interest-rate increases loom
  - Chile gets its first female central bank chief
  - Australia's central bank upgraded its inflation and employment outlook, while still seeing wage pressures building only gradually
  - South Korean consumer prices stayed well above the Bank of Korea's target in January, keeping the pressure on policy makers to keep tightening