Markets responded to the escalation of trade war more than to the speech of Jerome Powell
Who is a greater evil for the US economy, politically neutral Jerome Powell or Donald Trump labeled him the enemy of the US economy? I wonder, what enraged the US president more: the Fed Chairman’s unwillingness to signal an aggressive rate cut, the drop in the US stock indexes, or Powell’s statement that the central bank is not able to counteract the fallout from the US-China trade war. Trump seems to be unable to control himself, when hit on the right cheek, he, unlike the Fed chairman,…
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