‘Trump Time’ Meets Reality, EU v Populism, Retail Slump: Eco Day

(Bloomberg) -- Welcome to week’s end, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• A surprising plunge in U.S. retail sales undermined the outlook for economic growth and is likely to leave the already-cautious Fed in an extended holding pattern. This chart shows a ‘trifecta of anxiety’ hurt holiday retail sales; some analysts reacted to the data with an unusually large dose of skepticism
• The president’s aides like to say he prefers to do things in “Trump time” and that’s been his approach to trade and China -- but there’s growing evidence that reality is catching up. Meantime, here’s a who’s who of China’s trade negotiating team
• EU leaders need to redouble efforts to lift living standards as populist movements question integration, IMF chief Christine Lagarde said, as Austria’s statistics office became the latest institution embroiled in a lingering battle with populist politicians
• The central bank chief in western Europe’s biggest oil producer warned Norwegians against prematurely killing their main source of wealth
• With the Fed set to review its monetary-policy methods later this year, the most likely outcome is it will keep turning to quantitative easing during slowdowns, Deutsche Bank says. Fed Governor Lael Brainard said she favors ending the process of shrinking the balance sheet in 2019. Here’s a summary of recent remarks by policy makers
• BOE policy maker Gertjan Vlieghe says a no-deal Brexit is more likely to bring looser monetary policy from the U.K. central bank
• The Australian dollar has been buffeted by cross-currents at home and abroad, but its decline has provided some support to growth, central bank Assistant Governor Chris Kent said
• Japan’s sales-tax increase, due to take effect in October, may be delayed a third time if there’s a global downturn, ex-Ministry of Finance official Kazumasa Oguro said

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke

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