Fed’s Economic View, Lagarde Reality, BOJ Watchers: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Federal Reserve Chairman Jerome Powell’s disagreement with Wall Street over recession risks is backed up by data showing that much of the talk is concentrated in a few industries with big megaphones -- manufacturing and banking
• More American companies are reporting negative impacts from tariffs, especially among goods producers, while also seeing persistent difficulties in hiring for high-skill positions
• Bloomberg Economics estimates that in 2020 real U.S. GDP growth will decelerate to the slowest pace since 2016, but it will be strong enough for the economy to avoid slipping into a downturn
• Christine Lagarde is about to get a harsh snapshot of the challenges that face her when she takes up the European Central Bank presidency this week
  • Meanwhile, euro naysayers are seeing more weakness for the currency as Mario Draghi steps aside
• Most economists expect the Bank of Japan to stand pat this week after continued signs of resilience in the economy and stability in markets cooled speculation that the central bank will ease in October
• Bloomberg Economics reckons a steeper decline in China’s industrial profits in September sends a clear signal of weakening conditions
• Here’s our look at the week ahead in global economics

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Zoe Schneeweiss

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