Pres Trump is saying that “Too Late”
Powell will probably not cut rates today. Keeping interest rates high is hurting people.
On other topics from Trump:
Negotiating with India now.We’ll see what happens with India. We will know at the end of the week.Negotiating with Harvard now: they would like to settle, see what happens. Moving along well with China;, it will work out well.Going to have a really clear deal with China.
In other news
Formally signs the 50% copper tariffImposes additional 40% tariff on Brazil bringing total tariff to 50% Trump is suspending. He is declaring a economic emergency.Suspends the de minimus exemption for commercial shipments (low cost goods exported to the US). The exemption suspended effective August 29.
The comments from Trump comes after NEC Director Hassett a few minutes ago said:
Data is consistent with the Fed cutting ratesMany economists think the Fed has been to slow
Although it has been a battle between Trump and Powell, with 3% GDP growth today and the unemployment rate at 4.1% and the stock market making highs and the threat that tariffs could push the inflation rate to and through 3%, even the President has to stand- down -for now at least.
The market is focused on the future course of the Fed. That may show, Powell and the Fed standing-down.
This article was written by Greg Michalowski at investinglive.com.