(Bloomberg) -- Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• After months of supercharged U.S. inflation readings, August data offered some comfort for “team transitory” –- those at the Fed who say price spikes caused by the economy’s reopening will soon abate
• BE looks at how Fed liftoff might easily shift to 2022 or 2024
• Delta’s force is hitting economies from China to the U.S. in real time
• Swipe your bracelet, watch or even a walking stick, and you can pay for your goods with digital yuan
• Australia should follow the U.S. and Canada in reviewing its monetary policy framework, the OECD said
• Canada is likely to elect another minority government next week. That could be a recipe for higher taxes and more spending
• Bank of England Governor Andrew Bailey issued a fresh broadside over the EU’s post-Brexit plans on clearinghouses, warning any upheaval risked a “real threat” to financial stability
• The Italian government is planning to use public funds to reduce the impact of surging gas prices on consumers’ electricity bills
• U.S. household income fell in 2020 while the national poverty rate rose from a 60-year low
• The coronavirus pandemic is creating perhaps the biggest crisis for Australia’s federal system since 1901

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