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Good morning from the newsroom of the Financial Times. Today is Friday

January 11th and this is your FT news briefing. Today Fed Chair Jay Powell

warns the US government shutdown could hurt the U.S. economy.

The world's largest beer brewer returns to the debt markets, and Renault finds no evidence of

wrongdoing in their investigation into Carlos Gone.

Then the F.T.'s Peter Campbell explains why Ford needs to shake up its European operations.

I'm Eric Krupky, and here's the news you need to start your day.

On Thursday, U.S. Federal Reserve Chairman Jay Powell warned the government

shutdown could start to take a toll on the U.S. economy.

The partial government shutdown is now well into its third week, and negotiations don't seem to be progressing.

U.S. President Donald Trump is demanding funding for a wall along the U.S. Mexico border,

and Democrats have refused to offer any. If the

shutdown continues into the weekend it'll be the longest on record.

At the aggregate level the economy generally does not reflect much damage from a shutdown. A longer shutdown is

something we haven't had. If we have an extended shutdown then I do think that

that would show up in the data pretty clearly.

Powell warned that the shutdown will make it harder for the Fed

to get a clear view of the economy's performance.

That's because some of the government agencies

responsible for reporting key economic indicators

...