The Trade Warring Will Continue Until Morale Improves
With the economy already wobbly, President Trump doubles down on his China conflict.
Trump and Xi in somewhat happier times.
Photographer: Bloomberg/BloombergApparently President Donald Trump will do anything to get that bigger Fed rate cut he wants so badly.
Yesterday, after the central bank finally, grudgingly delivered the stimulus he’d been hollering about for months, he complained it wasn’t big enough. Then today, Trump chucked a bomb at the economy in the form of threatening new tariffs on $300 billion in Chinese goods that had been excluded from previous levies, possibly including many Apple Inc. products. This would be the last thing the already struggling smartphone market needs, notes Shira Ovide. Stocks, which had just gotten over their Fed disappointment, tumbled, along with bond yields. That should get the Fed moving!