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

  • Japan’s chief negotiator dodged questions about any potential auto export penalties or currency clause as he emerged from the first day of long-awaited trade talks with the U.S.
  • The Federal Reserve may need to cut interest rates if U.S. inflation falls, said Chicago Fed President Charles Evans, who currently sees rates on hold until the fall of 2020
  • Vancouver’s housing market is buckling under a slew of taxes and regulations introduced since 2016 to tame years of relentless growth that made the city the most unaffordable on the continent
    • College kids are taking advantage of the situation
  • European Central Bank officials lack enthusiasm for any revamp of their negative-interest rate tool and some doubt it will actually happen when an analysis of the policy is completed
    • Meanwhile, Francois Villeroy de Galhau, a European Central Bank Governing Council member, said the benefits of negative interest-rates outweigh the drawbacks
    • In Madrid, Pablo Hernandez de Cos and his team are on a mission to repair the reputation of the Spain’s central bank
  • The U.K. labor market continued its impressive performance in the three months through February as employment jumped and wage growth far outpaced inflation
  • The Chinese government has ramped up spending to support the economy, sending state finances into the red earlier than usual
    • Also on China, here are five clues on whether the economic upturn has staying power

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

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

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