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Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- Inflation near a 40-year high is shocking Americans and spooking Washington
- President Joe Biden said the U.S. and some NATO allies are planning a meeting with Russia to de-escalate tensions over Ukraine
- The U.S. House passed legislation designed to punish China for its treatment of Uyghur Muslims, a move that’s sure to anger Beijing and add to strains between the world’s two largest economies
- U.S. job openings jumped in October to the second-highest on record, underscoring the ongoing challenge for employers to find qualified workers for an unprecedented number of vacancies
- January could bring another blow for Americans worried about rising prices and shrinking household budgets
- Delivery times for chips lengthened again in November, dashing hopes for an end of the shortages that have hammered industries across the globe
- U.K. business groups called for government support after Prime Minister Boris Johnson announced restrictions to curb the spread of the omicron variant, which Bloomberg Economics estimates could cost the economy as much as 2 billion pounds ($2.6 billion) a month
- China Evergrande Group has officially been labeled a defaulter for the first time, the latest milestone in a months-long financial drama that paves the way for a massive restructuring of the world’s most-indebted developer
- Brazil delivered its second straight interest-rate hike of 150 basis points and vowed to continue the world’s most-aggressive tightening cycle until inflation goals are met
- Chile’s polarized presidential election promises a shake-up for the world’s biggest copper producer
- Finally, check out this week’s Stephanomics podcast: How global catastrophe has only made billionaires even richer
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