Powell's Bright Moment, European Data, Italian Budget: Eco Day

(Bloomberg) -- Good morning, Americas. Here’s the latest news from Bloomberg Economics to help get your Thursday started:

  • Ten years after the peak of the financial crisis, Jerome Powell’s Federal Reserve sees a U.S. economy capable of humming along without support from monetary policy
    • Still, President Donald Trump is "not happy" with the Fed’s decision to raise interest rates for a third time this year
  • Italy’s budget negotiations, the first major test of the government’s unity as coalition partners, have been hit by a last-minute demand for extra spending by the coalition’s two deputy prime ministers
  • It’s been a busy, if mixed, day for European data, with reports show a slide in consumer confidence, faster German regional inflation and a pick up in optimism among Italian manufacturers
    • Meanwhile, in a report for the German government, five of the nation’s leading research institutes cut their 2018 growth prediction to 1.7 percent from 2.2 percent, seeing expansion held back by restraints at home and abroad
  • Global leaders and top executives pledged their commitment to free trade, offering a rebuke to Trump’s protectionism.
  • Sticking with trade, Trump announced he has reached an agreement with Japan to open trade talks, while here’s why a Mexico-only Nafta update doesn’t mean Canada is out of luck
  • Indonesia’s central bank raised its benchmark interest rate for the fifth time since May as it intensifies efforts to shield the rupiah from a global rout in emerging markets
  • The Czech central bank is striking a non-committal tone after its third straight hike

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