Fed Rate Watch, Trade-War Pain, Fresh Tariffs, ECB Wait: Eco Day

(Bloomberg) --

Welcome to Tuesday, Americas. Here's the latest news and analysis from Bloomberg Economics to help get your day started:

• It's the question that looks likely to dominate the run-up to the Federal Reserve's next meeting: Will it cut interest rates by a quarter point or twice that?
• Bloomberg's global Trade Tracker shows just how hard it is for a Trump-Xi handshake to change much about the broader outlook, especially with a widespread PMI slump
• The U.S. has readied a fresh batch of potential tariffs, this time for $4 billion in EU goods; meanwhile, President Donald Trump says trade talks between the U.S. and China already have restarted
• European Central Bank policy makers aren't yet ready to rush into additional monetary stimulus at this month's meeting, preferring instead to wait for more data on the economy, according to euro-area central-bank officials familiar with the matter
• The Australian central bank just issued a second straight interest-rate cut for the first back-to-back easing in seven years; Bloomberg Economics expect the RBA to remain on hold for the remainder of the year
• Gig economy work is a necessity rather than a choice and those reliant on it would be willing to earn less in exchange for more job security, according to a study of workers in the U.K. and the U.S.

To contact the reporter on this story: Zoe Schneeweiss in London at zschneeweiss@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Brian Swint

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