Powell's Patience, Yuan Defies Slowdown, U.S. Inflation: Eco Day

(Bloomberg) -- Happy Friday, Asia. Here's the latest news and analysis from Bloomberg Economics to help get your day started:

• Federal Reserve Chairman Jerome Powell said the U.S. central bank can be patient before adjusting interest rates again as it waits to see how global risks impact the domestic economy; Meanwhile, Powell is still waiting for that White House invite
• Here's how the Fed's shift to pause mode is helping China's currency defy a deepening slowdown across the world's No. 2 economy
• Less than a month before India's budget, risks are growing that Prime Minister Narendra Modi's government will miss fiscal targets for a second year in a row as it bows to populist pressures before a high-stakes election
• Australia's construction activity has slowed to the weakest in five-and-a-half years as tighter lending conditions and falling prices weigh on the nation's housing market
• The European Central Bank should wait until the spring before tweaking its policy and keep all options open, says Governing Council member Francois Villeroy de Galhau
• This chart suggests U.S. inflation will likely be steady in data scheduled for release Friday in Washington

To contact the reporter on this story: Chris Bourke in Sydney at cbourke4@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Matthew Brockett

©2019 Bloomberg L.P.