Fed's Chart of Century, U.K. Growth, ECB Conduct Battle: Eco Day

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

• A multi-colored graphic that’s made the rounds at the Federal Reserve hints at what Chairman Jerome Powell could face if President Donald Trump succeeds in throwing globalization into reverse: Higher prices for many goods and potentially faster inflation.
• The U.K. economy is bouncing back from a near standstill in the first quarter and a World Cup boost to consumer spending is supporting the pickup
  • That may be enough to secure an August rate hike for the BOE, although one U.K. think tank reckons officials should focus on freezing house prices
• The European Central Bank has a battle on its hands over new conduct rules for Governing Council members, some of which are seen as too intrusive.
• Britain’s Theresa May dodged immediate danger as she fought to stave off a full-blown crisis after three ministers quit to protest her Brexit plan.
• Jim O’Neill says May is now stronger than she’s been in some time, and here’s how it could impact her economy
• Investors’ confidence in the euro area and Germany took another knock as the escalation of trade tensions between the U.S. and many of the world’s major economies cast a cloud over improving data
• Turkey’s President Recep Tayyip Erdogan issued a decree empowering him to name the head of the central bank as well as deputy governors -- just hours after naming his son-in-law as finance minister
• Mario Draghi reckons that euro-area inflation can stay on the right path, striking a confident tone that the ECB can withdraw its stimulus despite global risks
• Malaysia’s new central bank governor presides over her first interest-rate meeting in a better position than most of her peers in Southeast Asia

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, Marco Bertacche

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