Trump's Fed Lament, China's Data Doubts, BOJ's Losses: Eco Day

(Bloomberg) -- Welcome to Tuesday, Europe. Here’s the latest news from Bloomberg Economics

• President Donald Trump said he expected Jerome Powell to be a cheap-money Fed chairman and lamented to Republican donors that his nominee instead raised interest rates.
• Trump also accused China and the European Union of manipulating their currencies
• Jens Weidmann, a top candidate to lead the European Central Bank next year, said policy makers must be willing to act if needed to prevent financial imbalances
• China’s problems with dodgy data are all in the past, according to the man in charge of government statistics
• Australia’s central bank sketched out a scenario where faster global growth and U.S. stimulus withdrawal push the Aussie dollar lower and underpin a stronger outlook
• The Bank of Japan is likely to face trillions of yen of losses once it begins decisively exiting its radical stimulus, meaning it needs to work toward reining in its balance
• South Korea’s exports during the first 20 days of August, the strongest in eight months, helped ease concerns about the impact of global trade battles

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