The End of a Big Week, Draghi's Unfinished Journey: Eco Day

(Bloomberg) -- Good morning Americas. Here’s news from Bloomberg Economics to help round off your week:

• It’s been a big week for the global economy, so here’s a round up of what’s happened in the most important five days of 2018
• While Alan Greenspan famously said he’d mastered the art of mumbling “with great incoherence” as Federal Reserve chairman, Jerome Powell is styling himself as a man of the people
• Mario Draghi put the European Central Bank on the road to raising interest rates on Thursday, though he may never get the chance to complete the journey himself
• The Bank of Japan left monetary policy unchanged and downgraded its assessment of inflation, falling further behind its global peers at the end of a busy week for central banks
• U.K. labor costs are rising at their fastest pace in 2 1/2 years, figures Friday showed
• Bloomberg Economics sees the U.S.-China trade conflict likely entering a new and potentially damaging phase
  • They could be proved right quickly. U.S. proposals to smack tariffs on $50 billion of Chinese imports are just the start, economists and China-watchers said as they await an impending announcement
• Meanwhile, America’s tax cuts and public-spending hikes are increasing risks to the global economy by boosting debt, potentially stoking inflation and pushing the dollar higher, the International Monetary Fund warned
• New chief in town. Argentina’s central bank is getting a new chief after the monetary authority failed to stop the peso’s plunge despite obtaining the biggest loan in the history of the International Monetary Fund

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