Rogoff & Reinhart, Powell’s Warning, Japan’s Recession: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week:

• Harvard’s Carmen Reinhart and Kenneth Rogoff -- experts on the history of government defaults, recessions, bank runs, currency sell-offs, and inflationary spikes -- say this time really is different
• The European Union is betting British Prime Minister Boris Johnson wants a trade deal so much that he’ll compromise to get one
• The U.S. economy will recover from the coronavirus, but the process could stretch until the end of 2021 and depend on a vaccine, Fed Chairman Jerome Powell said. He’s expected to step gently onto Congress’s turf in testimony this week with a message to spend more
• The Bank of England is more urgently examining unconventional monetary policy measures amid the coronavirus pandemic, its chief economist said. Economists expect an increase in asset purchases at the bank’s next meeting
• The European Central Bank is coming under pressure to clean up its environmental act as a report showed polluting companies account for 63% of its corporate-asset purchases
• Monetary policy could be tighter than it looks as the pace of government borrowing eclipses the record stimulus of central banks
• The pandemic is reshaping the job market for millions of immigrants in the U.S.
• Statistics are a poor guide to the crisis raging across Gulf Arab economies
• Japan has sunk into recession, and it’s only likely to deepen further as the full force of the coronavirus pandemic hits globally
• Singapore’s exports unexpectedly climbed for a second straight month in April

©2020 Bloomberg L.P.