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Powell's BIS Role, U.K.'s Economic Prize, German Hope: Eco Day

Powell's BIS Role, U.K.'s Economic Prize, German Hope: Eco Day

(Bloomberg) --

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

  • Federal Reserve Chair Jerome Powell will take over the stewardship of two central bank groups at the Bank for International Settlements early next year
    • The U.S.’s historic economic expansion has so enriched one-percenters they now hold almost as much wealth as the middle- and upper-middle classes combined
  • Britain dodged a recession ahead of the now-postponed Oct. 31 Brexit deadline, but the figures underscored the economic challenge facing whoever wins next month’s election
    • The report comes as Boris Johnson’s Conservative Party attacked the opposition Labour Party’s spending plans as they sought to switch the focus of their election campaign to one of their strong suits: the economy
    • Still, the election leaves the Bank of England in a tricky spot, with officials now stuck in a quiet period just as their policy outlook shifts
  • Meanwhile, Germany’s recent glimmer of hope after a year of industrial doldrums risks coming too late to prevent wider weakness from taking hold
    • The newest German policy maker at the European Central Bank brings perspective on how 400 years of financial bubbles offer lessons for her team
  • Chinese prices in steep decline are bringing down inflation worldwide; here’s the Bloomberg Economics take on how disinflation is the chief threat on the central bankers’ radar
    • India’s ready to import 100,000 tons of onions in a bit to counter a surge in prices for the critical kitchen ingredient
  • Finally, here’s a look at the week ahead in the global economy

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, Brian Swint

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