Fed's Inflation, Aussie Stimulus, Trump Girds for China: Eco Day

(Bloomberg) -- Welcome to Wednesday, Asia. Here’s the latest news from Bloomberg Economics:

• Federal Reserve Chairman Jerome Powell welcomed recent increases in wages while expressing confidence that low unemployment won’t spur a takeoff in prices that would force him to hike interest rates aggressively
• Australia’s currency is delivering the interest-rate cut for the economy that the central bank has proven unwilling to provide
• President Trump looks to be preparing for a potentially protracted economic war with China by clearing the decks of disputes with America’s other trading competitors
• Indonesia is weighing proposals to cut the levy on gains from its sovereign bonds and extend tax breaks to exporters to help shore up its weakening currency
• Chinese tourist arrivals in Thailand are tumbling after a tour boat accident and, most recently, a video of an airport guard apparently punching a Chinese tourist
• Abhishek Gupta predicts India will stand pat at this week’s policy meeting, warning a hawkish move would send a bearish signal on the economy

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