Fed's Goal, Krona's Squeeze, China's Stabilization: Eco Day
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Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:
- Federal Reserve officials say they’re willing to tolerate an overshoot of their inflation goal. Meantime, the market is pricing in a Fed cut even as the White House’s chief economist says the U.S. economy is on track to grow 3 percent or faster this year
- Step back. Some U.S. negotiators are concerned China is pushing back against American demands despite President Donald Trump’s optimism about reaching a trade deal that could boost his re-election chances
- Demand steadying. Bloomberg Economics reckons China’s economy is poised to stabilize in 2Q as stimulus starts to gain traction
- Reconsider stance. European Commission Vice President Valdis Dombrovskis said Italy’s economic difficulties should push the populist government to review its fiscal position. Meanwhile, the Bank of Italy’s No. 2 official is said to be leaving amid tensions with the government
- Battered krona. Small Swedish businesses are being hammered by rising import costs amid the krona’s slump
- French resistance. France’s economy is likely to receive a modest lift from government stimulus
- Is it time to relent on 2%? A guide to Japan’s inflation target debate
- Teetering. India’s economy showed conflicting signs of a recovery in a climate clouded by uncertainty ahead of a general election beginning next month
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