Donald Trump has played down worries of a global economic slowdown, stating that America is ‘doing tremendously well…consumers are rich, tax cuts loaded up with money…’ His economic advisor Peter Navarro followed the same line, stating that ‘we’re going to have a strong economy through 2020 and beyond with a full market [and] the Fed will be lowering rates.’
The markets will be watching Federal Reserve Chair Jerome Powell’s speech later this week closely, with general consensus being that it will set out expectations for further rate cuts following a quarter-percentage cut in July.
Trade war worries with China continue, with neither side yet approaching a deal. Trump Tweeted last night that America is still talking with China, but the results remain to be seen.
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