(Bloomberg) -- Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend:

• President-elect Joe Biden’s $1.9 trillion economic relief plan could face lengthy negotiations due to the go-big price tag and the inclusion of proposals opposed by many Republicans
  • Economists saw much to like in the plan, even if key elements may be inefficient or fail to provide long-lasting relief
  • Bloomberg Economics expects a narrower package to ultimately emerge -- in the vicinity of $1 trillion
• U.S. retail sales probably stagnated in December after declining in recent months as a surge in coronavirus infections led to new business restrictions and limited economic activity
• The pandemic has exacerbated builders’ difficulties in finding labor, with 85% expecting future cost and availability problems, according to a survey by the National Association of Home Builders
• The racial reckoning has come to every corner of American life ---- even, it turns out, at the mighty Federal Reserve
• China’s economic ascent is accelerating barely a year after its first coronavirus lockdowns, as its success in controlling Covid-19 allows it to boost its share of global trade and investment
• The women of Mexico already faced the worst economic prospects in Latin America. Now the pandemic threatens to sink them even further, aggravating chronic inequality and dragging down the country’s fortunes
• Argentina’s chaotic reversal on corn exports could hurt its standing among the world’s top grain suppliers as buyers get exposed to the unpredictability of government feuding
• After the holiday slump, activity in several of the world’s largest advanced economies extended their recovery in the second week of January. Yet compared with early December, Bloomberg Economics gauges remain significantly lower

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