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Welcome to America on Wednesday. Here is the latest news and analysis from Bloomberg Economics to get you started to the day:
- Faced with a potential eviction crisis and property prices unreachable for many buyers, Joe Biden’s government is pushing for the largest government housing investment in decades
- A global deal that could transform the tax landscape for the largest corporations is nearing a crucial first phase as the group of seven nations enter into an agreement that could include both a minimum rate and digital giants
- Washington set up a dispute body to review Canada’s milk quotas. The US claims this is undermining the ability of American milk exporters to sell a range of products to Canadian consumers
- The central banks are slowly but surely moving away from their monetary emergency situations
- Central bankers around the world are pondering the future of their massive bond-buying programs in a post-pandemic world, knowing that there are big expectations with big balance sheets
- Federal Reserve Vice Chairs Randal Quarles and Richard Clarida have been reminded that their terms in office may be running out
- The heads of the Brazilian House of Commons and the Brazilian Senate agreed on a strategy to expedite approval of a lengthy revision of the country’s tax law
- China’s strong economic momentum eased slightly in May as rising commodity prices weighed on earnings, businesses became more cautious, and home and auto sales underperformed
- From tropical island resorts to outback whiskey makers, mountain ski areas to inner-city cafes, Australian businesses are struggling to find the staff they need to serve customers with cash
- They are called the Sampo Generation: South Koreans in their twenties and thirties who have given up three (Sam) of the conventional rites of passage of life – dating, marriage, and children
Before it’s here, it’s in the Bloomberg Terminal.