Fed Minutes, Biarritz to Jackson Hole, Rate Cuts Ahead: Eco Day

(Bloomberg) --

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

• It’s Fed minutes day
• President Donald Trump keeps rejecting forecasts that his trade war with China and slowing global growth are pitching the U.S. economy toward recession. But he’s also outlining policies to stave it off, including fiscal stimulus
  • Goldman economists predict Federal Reserve officials will cut interest rates at each of their next two meetings
• A no-deal Brexit looks “increasingly inevitable” with the U.K. entering a shallow recession next year, according to economists at Barclays, who say that BOE rate cuts would follow in that scenario
• The leaders of the world economy convene this week 8,000 kilometers apart, with the same thing on their mind: What more stimulus is needed to support the weakest global growth since the financial crisis?
• U.K. Prime Minister Boris Johnson is seeking to rally support for former Finance Minister George Osborne to become the next head of the International Monetary Fund, according to a person familiar with the matter
• Good news for spending power: household income grew faster than the economy across most developed nations in the first quarter

To contact the reporter on this story: Eddie Spence in London at espence11@bloomberg.net

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net

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