Trump on Low Rates, Goldman on Growth, Powell Speaks: Eco Day

(Bloomberg) --

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

• President Donald Trump renewed his assault on the Fed, saying it was hurting the economy by not deploying negative rates. Here’s why the President thinks healthy countries deserve low rates
• Federal Reserve Chairman Jerome Powell may try to steer markets on the rate path when he addresses the Joint Economic Committee of Congress today
• U.S. financial conditions have eased significantly this year, setting the scene for a positive surprise in economic growth in 2020, according to Goldman Sachs.
• Cheaper gas and electricity pushed U.K. inflation to its lowest rate in almost three years last month, bringing respite for Prime Minister Boris Johnson after two days of disappointing data
  • Meanwhile, a new analysis shows the savage impact of almost a decade of austerity on local services in England
• Germany is one day away from finding out whether its economy succumbed to recession in the third quarter -- a fate predicted by most analysts
  • Still, euro-area industrial production unexpectedly rose for a second month in September, offering a sign the economy was beginning to emerge from a slump at the end of the third quarter
• The global economic slowdown is starting to weigh on the European Union’s east. The region has held up well even as key export destinations including Germany have struggled, but data this week may reveal the nearby weakness is spreading
• New Zealand’s central bank left interest rates unchanged, defying widespread expectations of a cut and sending the local currency soaring

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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