U.S. Stimulus Deal, Tips for The Fed, Japan’s Lessons: Eco Day

(Bloomberg) -- Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• The Trump administration struck a deal with Senate Democrats and Republicans on an historic rescue package that tees up more than $2 trillion in spending and tax breaks
• The administration is also debating whether to defer payments of tariffs on imported goods from around the world for three months, people familiar with the talks said
• The Federal Reserve might want to ask its international peers for advice on how to ensure sure its attempts to support smaller businesses work out
• U.K. inflation slowed slightly in February before the impact of the coronavirus really hit the economy
• There may be an upside for Europe’s east from the havoc wreaked on global supply chains by the coronavirus.
• The euro area is preparing to make available credit lines from its bailout fund worth up to 2% of each country’s output, as the region’s finance ministers sought to lay out the next phase of their fiscal response to the coronavirus outbreak
• The 2020 Tokyo Olympics will be delayed by up to a year in the first postponement since the modern games began in the 19th century
• The postponement of the Tokyo Olympics is likely to hit business and consumer sentiment and result in job losses, while its staging in 2021 is still not guaranteed, according to economists
• A sudden rise in China’s unemployment is pressuring firms to hold staffing levels

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