- Tracking China’s campaign to rein in sky-high commodity prices
- Yuan’s blockbuster week has analysts looking to six-year high
Happy Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:
- President Joe Biden is set to unveil a budget that wouldincrease federal spending to $6 trillionin the coming fiscal year
- Treasury Secretary Janet Yellen said above-normal inflation is likely to persist through the end of the year before fading,a longer periodthan officials had previously indicated. Yellen travels to London for a meeting of her G-7 counterparts in thislook at the week ahead
- As countries begin to emerge from the pandemic, forecasts become even more important in deciding which countrieswill come out ahead
- China is trying towhack down soaring commodity pricesbefore rising costs hurt the economy
- A plan to end England’s virus restrictions on June 21is in doubt
- Secretary of Commerce Gina Raimondo said administration spending plans are focused onboosting U.S. competitivenesswith China
- Taiwanplans to doublea proposed increase in stimulus as the economy reels from virus restrictions and South Korea’s president wants tokeep the budget expansionarythrough at least next year
- Brazil’s unemploymentrose to an all-time highas a second wave of coronavirus battered the economy, while Chile’s finance minister plans totap bond marketsto help finance $10.8 billion of measures
- The G-7 meeting of finance officials in London next week muststrike an agreementto corral the world into changing how much tax multinationals pay and where, French minister Bruno Le Maire said
- The Fed’s prestigious annual Jackson Hole policy symposiumwill be held in personthis year, albeit in a modified form
- America’s economic recoveryisn’t roaring for everyone, Stephanie Flanders and Michael Sasso explain in their weekly Podcast
- The yuan’s relentless advance is raising expectations it could hit levelslast seen before its shock devaluationin 2015. The People’s Bank of China said the currency can’t be used as a tool to spur exports or tooffset the impact of commodity priceincreases
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