Trump Rate Rocket, U.S. Trade Threat, $2 Trillion Plan: Eco Day

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

  • The U.S. economy might indeed take off like a rocket if the Fed acquiesces to President Donald Trump’s demands -- but it would increase the risk of crash-landing later. Meantime, the Fed will offer little evidence that it’s drifting from its "patient" posture at the current meeting, says Carl Riccadonna
  • The White House is ramping up pressure to reach a trade deal with China in the next two weeks, warning that it’s prepared to walk away from the negotiations
  • Democratic leaders said Trump agreed to aim for a $2 trillion infrastructure plan, while leaving open how to pay for it
  • Southeast Asia, China, Japan and South Korea are expected to remain “resilient” in the face of heightened trade tensions and stronger global headwinds, a regional body said
  • ECB policy makers who sounded the alarm about the region’s slowdown last month can now relax a bit as the stimulus they prepped becomes less urgent
  • Ken Griffin, the billionaire founder of Citadel, blasted socialism and said raising taxes on the wealthy isn’t the solution to inequality
  • Here’s how 20 years of policies masterminded by charismatic former paratrooper Hugo Chavez dragged Venezuela into crisis

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