- U.S. commerce secretary Ross: Very hopeful that Fed Chairman Powell will lower interest rates
Market news
19 August 2019
U.S. commerce secretary Ross: Very hopeful that Fed Chairman Powell will lower interest rates
- Says he is very concerned about how Fed policy is affecting dollar strength
- There will be a recession eventually but yield curve inversion is not as reliable as people think
- U.S. will delay Huawei ban by 90 days to November 19
- Will delay ban for some businesses
- But U.S. had added 46 more Huawei subsidiaries to the entity list, which will not allow these units to import to U.S.
- China's currency declines are mitigating cost of tariffs to U.S. consumer
- Import prices have been declining from a year ago and overall consumer inflation is low
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