Extending U.S. Growth, Fed Tone, Guaido’s China Message: Eco Day

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

• Spending by U.S. cities and states is a bright spot that could help to extend the expansion, now in its 10th year and within months of becoming the longest ever
  • More Americans are coming off the sidelines to get employed or seek work, boosting the participation rate to a five-year high
• A change in the Fed’s tone may mean investors shouldn’t be driven by fears of recession for now, says JPMorgan
  • It comes as Jerome Powell marks his first year as chairman under pressure
• Bloomberg’s Tom Orlik looks at what spooked the Federal Reserve into its dovish turn and how a weakening China, slowing Europe and other factors threaten global economic growth
• Over in Venezuela, Juan Guaido wants China to see that Nicolas Maduro’s regime is simply bad for business
• Brazil will hold its benchmark interest rate at a record-low throughout the year before increasing it by 1.5 percentage points in 2020, according to economists surveyed by the central bank.
• In Russia, even the fastest pace of economic growth in six years won’t put it back on the road to full recovery
• For Turkey, skyrocketing food costs are threatening to halt a broader deceleration in price growth
• Catch up with the latest on Italy’s staggering debt
• Australia’s falling unemployment is propping up households and allowing the economy to absorb a property slump, meaning the central bank can afford to stay on the sidelines -- for now

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Zoe Schneeweiss

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