Powell Eyes Retail, Trump’s Budget, Global Weak Spell: Eco Day

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

  • Federal Reserve Chairman Jerome Powell said the central bank will be watching retail sales data, due Monday, for signs that American consumer spending bounced back from a surprisingly weak end to 2018
    • Speaking in a in an interview that aired Sunday on CBS News “60 Minutes,” Powell also said that Fed policy is appropriate and he’s in no hurry to change it
  • President Donald Trump will propose a U.S. budget that wouldn’t balance for 15 years, even assuming stronger economic growth than private forecasters expect and with deep domestic spending cuts that have little chance of passing Congress
  • The global economy’s sharp loss of speed through 2018 has left the pace of expansion the weakest since the global financial crisis a decade ago, according to Bloomberg Economics’s Dan Hanson and Tom Orlik
  • Turkey fell into its first recession in a decade. Bloomberg’s Economics’s Ziad Daoud says this means the conditions are now set for monetary easing
  • For German industry, there’s no shelter from the brewing economic storm as global risks threaten to choke off Europe’s growth engine
  • Thirty years after communist regimes collapsed in eastern Europe, economic growth is at risk from a dearth of cash to nurture innovation
  • Finally, here’s a look at what broke oil-rich Venezuela’s economy, and what can be done to fix it

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