The End of a Big Week, Draghi's Unfinished Journey: Eco Day

(Bloomberg) -- Good morning Americas. Here’s news from Bloomberg Economics to help round off your week:

• It’s been a big week for the global economy, so here’s a round up of what’s happened in the most important five days of 2018
• While Alan Greenspan famously said he’d mastered the art of mumbling “with great incoherence” as Federal Reserve chairman, Jerome Powell is styling himself as a man of the people
• Mario Draghi put the European Central Bank on the road to raising interest rates on Thursday, though he may never get the chance to complete the journey himself
• The Bank of Japan left monetary policy unchanged and downgraded its assessment of inflation, falling further behind its global peers at the end of a busy week for central banks
• U.K. labor costs are rising at their fastest pace in 2 1/2 years, figures Friday showed
• Bloomberg Economics sees the U.S.-China trade conflict likely entering a new and potentially damaging phase
  • They could be proved right quickly. U.S. proposals to smack tariffs on $50 billion of Chinese imports are just the start, economists and China-watchers said as they await an impending announcement
• Meanwhile, America’s tax cuts and public-spending hikes are increasing risks to the global economy by boosting debt, potentially stoking inflation and pushing the dollar higher, the International Monetary Fund warned
• New chief in town. Argentina’s central bank is getting a new chief after the monetary authority failed to stop the peso’s plunge despite obtaining the biggest loan in the history of the International Monetary Fund

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

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

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