As an astute politician himself, Mario Draghi may give Angela Merkel a gift at next week’s ECB meeting, which comes just 2 weeks ahead of the German election, according to Brendan Brown, chief economist and head of economic research at MUFG. Speaking to Bloomberg Daybreak Europe’s Caroline Hepker and Markus Caroline, Brown also discusses President Trump’s tax plan which he says won’t bolster US growth momentum.

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A US flag flies off the stern of a tour boat at the Port of Los Angele in California on July 31, 2025. (Getty Images)