Bloomberg - Evening Briefing - Supercharging the economy

With the ink barely dry on his $1.9 trillion coronavirus bailout bill, President Joe Biden unveiled a $2.2 trillion proposal to shore up crumbling U.S. infrastructure, sending stocks soaring to new records but drawing some criticism from both sides of the aisle. By bolstering the middle class, everyone will benefit, Biden said of the plan, which he said would create upwards of 19 million jobs, mostly for working class Americans. There are also plans to support the electric-vehicle industry as part of the package, though the biggest winner won’t be Tesla, according to Liam Denning in Bloomberg Opinion. If passed, the bill could supercharge the U.S. economy while setting it on a collision course with China over resources. Noah Smith writes that while Biden’s initiative resembles in some ways FDR’s New Deal, the times are decidedly different.

What youll want to read this weekend

Biden’s big Covid-19 vaccination push offers hope that most U.S. adults will have received at least one shot this summer, but Black Americans are getting inoculated at a far slower rate than White Americans. In Brazil, the virus is out of control, with far-right President Jair Bolsonaro’s government imploding. And on Facebook, anti-vaxxers have had the perfect platform to scare women from signing up for a shot.

The pandemic has changed the renting vs. buying game, particularly in New York City. For a window into the city’s uneven recovery, look no further than its bodegas. And one unexpected side-effect of the pandemic: more Americans are eating lamb.

Local markets in New York City, like this one in the wealthy Park Slope neighborhood of Brooklyn, provide a window on the uneven real estate recovery.

Photographer: Amir Hamja/Bloomberg

Georgia Republicans, using the falsehood of election fraud as justification, passed sweeping restrictions on voting access critics say are aimed at disenfranchising minorities. The law, described by Biden as a new version of Jim Crow, earned national condemnation for the former Confederate state. Dozens of Black executives took a stand against the bill, and corporate America says it’s listening. Bloomberg Opinion’s Robert George said the law is a sad about-face for Republican Governor Brian Kemp.

Ivy League schools are set to reject hundreds of students because too many high-school seniors flocked to the top names. Meanwhile, online education platform Coursera, which thrived during the pandemic,surged on its trading debut.

Cruise-line trips going nowhere are amazingly popular among Singapore residents who just want to go anywhere. And amusement park SeaWorld wants you to know it’s ok to have fun again.

Killer whales at SeaWorld San Diego

Photographer: Handout/Getty Images North America

What youll need to know next week

What youll want to read in Bloomberg Wealth

Bill Hwang’s Dueling Lives Collide on Wall Street

A mind-boggling fortune made in stealth and then wiped out very publicly in the blink of an eye. This is the story so far of Bill Hwang, the hedge funder whose margin call meltdown stuck it to some big banks. But there are two Bill Hwangs. One walks for hours through New York’s Central Park listening to recordings of the Bible. The other has a thirst for risk and a stomach for volatile markets. The result: billions of dollars down the drain.

Bill Hwang

Photographer: Bloomberg Daybreak

Like getting Weekend Reading? Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and gain expert analysis from exclusive subscriber-only newsletters.

Bloomberg New Economy Conversations With Andrew Browne. Covid-19 has sped up the monetary revolution. China has the first central bank-issued digital currency and Bitcoin is flying high. Will electronic money empower individuals and small businesses at the expense of big banks? Will blockchain remake the modern corporation? Join us on April 20 at 10 a.m. ET for The Ascent of Digital Money. Register here.

Download the Bloomberg app: It’s available for iOS and Android.

Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more.

Older messages

The house always wins

Thursday, April 1, 2021

Bloomberg Follow Us Get the newsletter No matter how untethered its valuations may be from reality, the bull market in stocks keeps managing to deliver goods to the faithful. For every retrograde price

Biden’s $2 Trillion New Deal

Wednesday, March 31, 2021

Bloomberg Follow Us Get the newsletter US President Joe Biden just rolled out his own version of FDR's New Deal: a $2.25 trillion infrastructure package. Unveiled on Wednesday, the “American Job

Margin call meltdown

Wednesday, March 31, 2021

Bloomberg Follow Us Get the newsletter The year is only three months old, but already there have been two ground-shaking blowups on Wall Street, both tied to hedge funds. First came the GameStop short-

‘Impending doom’

Monday, March 29, 2021

Bloomberg Follow Us Get the newsletter What might be the largest margin call in history is causing consternation among those on Wall Street worried about hidden leverage and its potential to fry the

The vaccine war

Saturday, March 27, 2021

Bloomberg Follow Us Get the newsletter Covid-19 cases in the US are rising again, reversing months of progress thanks to fast-spreading variants and loosened restrictions. The outlook for the European

You Might Also Like

After inauguration, it's time to talk taxes

Wednesday, January 15, 2025

plus toad fashion + Post Malone ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Harry's Take 1-15-25 Stocks Look to Break Lower: Another Sign of a Top on December 16

Wednesday, January 15, 2025

Harry's Take January 15, 2025 Stocks Look to Break Lower: Another Sign of a Top on December 16 As we go into the new year, already with signs of a failed Santa Claus Rally and a failed first 5

🇺🇸 America's tariff future

Tuesday, January 14, 2025

A possible go-slow approach to tariffs, a spending worry for China, and the next obesity drugs | Finimize TOGETHER WITH Hi Reader, here's what you need to know for January 15th in 3:14 minutes. The

It’s a new year, get a new savings account

Tuesday, January 14, 2025

Earn more with high-yield options! ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Private Equity Is Coming for Your 401(k)

Tuesday, January 14, 2025

The industry wants in on Americans' $13 trillion in savings ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

This Skateboarding Economist Suggests We Need More Skateparks And Less Capitalism

Tuesday, January 14, 2025

A skateboarder presented an unusual paper at this year's big meeting of American economists. View this email online Planet Money Skateonomics by Greg Rosalsky “The Skateboarding Ethic and the

Elon Musk Dreams, Mode Mobile Delivers

Tuesday, January 14, 2025

Join the EarnPhone revolution ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Shaping inflation expectations: the effects of monetary policy

Tuesday, January 14, 2025

Natalie Burr In economic theory, expectations of future inflation are an important determinant of inflation, making them a key variable of interest for monetary policy makers. But is there empirical

🌎 Another hottest year

Monday, January 13, 2025

Global temperatures crossed a threshold, oil prices bubbled up, and crypto's AI agents | Finimize Hi Reader, here's what you need to know for January 14th in 3:06 minutes. Oil prices climbed

Have you seen the Best Cars & Trucks of 2025?

Monday, January 13, 2025

Get a quote and protect your new wheels with Amica Insurance ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌