Fed’s New Approach, Coronavirus Risks, BOE Suspense: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your Tuesday started:

• The Federal Reserve won’t wrap up a year-long review of its policy framework for months, but some officials are already shifting their approach to hitting the central bank’s inflation goal
• The outbreak of the deadly coronavirus threatens to derail a fragile stabilization in the world economy, which had appeared poised to benefit from the phase one U.S.-China trade deal, and signs of a tech turnaround
  • Here’s how the virus is taking a toll on China’s economy
• Americans are projected to inherit $764 billion this year and will pay an average tax of just 2.1% on that income, New York University law professor Lily Batchelder estimates in a paper published Tuesday by the Brookings Institution
• Mark Carney’s final decision at the Bank of England is on a knife edge, and the governor hasn’t done anything to ease the tension
• It took 32 months, two prime ministers, and nearly 30 votes in Parliament to extricate Britain from the European Union—and the hardest part of the negotiations hasn’t even started
• Prime Minister Shinzo Abe kept the number of reflationists on the Bank of Japan policy board unchanged on Tuesday, sending a strong signal of continuity for central bank policy
• Finally, here’s how Donald Trump’s trade salvos have shaken the World Trade Organization at a perilous time for commerce

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, Brian Swint

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