Fed Firing Risks, Mnuchin Calls Banks, China-U.S. Talks: Eco Day

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

• Donald Trump says he likes winning. Right now, it’s difficult to count anything but losers if he fires Fed chief Jerome Powell. White House Budget Director Mick Mulvaney echoed Treasury Secretary Steven Mnuchin that Trump doesn’t think he has the authority to fire the Fed chairman
• Mnuchin over the weekend called top executives from the six largest U.S. banks following heavy losses in the stock market
• China said it held vice-minister level talks by phone with the U.S. Friday
• Emerging markets are tentatively picking themselves up from the floor after a rout that’s wiped about $5 trillion off the value of stocks. But the reprieve may not last long
• Brazilians’ optimism about the economy has soared to a record high as President-elect Jair Bolsonaro prepares to take office

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, Malcolm Scott

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