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Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- Federal Reserve Chair Jerome Powell outlined his most aggressive approach to taming inflation to date, potentially endorsing two or more half percentage-point interest-rate increases while describing the labor market as overheated
- Nomura Holdings Inc. now expects the Fed to lift interest rates by 75 basis points at both its June and July meetings, moves that would follow up on an expected 50 basis point hike in May
- The U.S. will likely tighten monetary policy faster than previously expected, triggering knock-on effects in Mexico, central bank Governor Victoria Rodriguez Ceja said
- Governor Tiff Macklem acknowledged there’s potential for even larger increases to borrowing costs as the Bank of Canada aggressively wrestles inflation down from a three decade high
- China is heading for the largest oil demand shock since the early days of the pandemic as the nation’s efforts to tame a rapidly spreading virus hobbles vast swathes of the economy
- The yuan’s drop has been sharp and vicious — and it’s probably not over. Our daily stress indicator — which captures market forces and positioning — indicates the strongest downward pressure on the currency since early 2020
- Argentina’s economy bounced back in February and expanded at its best pace in several months, despite a contraction in the previous month
- Here’s how fertility benefits have gone from novelty to a must-have for many U.S. companies
- Finally, check out this week’s Stephanomics podcast: The episode dives into the disparate ways in which global leaders approach digital currencies
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