The President has been tweeting insane things about the FED… this is probably why
in notes from their July meeting, which were released on Wednesday, Fed policy makers repeatedly cited the Trump administration’s growing trade war with China and other countries as the primary reason the U.S. economy is at risk.
Fed officials also said trade uncertainties were an important factor in the recent drop in fixed business investment in the U.S., a key factor that Mr. Trump and his economic advisers have pointed to as evidence that the economy is stronger now than under President Obama.
The Fed’s account doesn’t mention Mr. Trump directly. But the word trade shows up 32 times in the minutes, though not all of it is negative. A number of times the Fed notes that an easing of tensions between the U.S. and China in July had helped the economy. In early August, Mr. Trump signaled that he would levy new tariffs on China, though the president has since delayed when those tariffs would go into affect.
It is never the fault of the President though… it is always someone else because the buck stops over there somewhere.
People need to realize they got played. Imagine if this was Obama with no trade wars going and and how hard these knuckledraggers would be crying about how bad things are.
[quote=“moonshine, post:1, topic:203735, full:true”]
every month the national association of purchasing managers puts out an index of teh health of teh sector. a number above 50 indicated expansion,below 50 contractioon
the index was just released. 49.9. Its the first reading under 50 since september of 2009. new orders and export sales fell off a cliff.
looks like trump is managing to crash the economy[/quote]
Addressing the bolded: The August PMI report was not just released. It will be released September 2 .
Addressing the italicized: again, no way to know this since the monthly report has not been released but new orders increased in July from 50.0 to 50.8.
Okay, here is a question. What US corporations did the Trump people consult with before starting this trade war?
Did it ever occur to you that going back to Reagan the US has been making progress on reconstructing various trade deals with China. However they were being done by selection and with the cooperation of those corporations involved.
Trump came along and decided that it would be a fine idea to put blanket tariffs on goods.
And from what I have seen, the economic advisors that he has working for him are either totally stupid and/of do not have the guts to tell him when he is wrong.
Trump has proved many times now that he doesn’t know squat about overseas commerce and how to negotiate trade deals. Why do you think that Chinese are in no hurry to make a deal? Perhaps it is because they are not going to do a deal where they loose ground. But Trump supporters keep buying into his con that it is his call when a deal will be made. That is pure BS and getting more obvious every day.
There is going to be a time coming up when our largest corporations who are being effected by this will go to Trump and tell him to stop the madness. I only hope it is before his actions really do some permanent damage.
“Our distributor in China is now paying an additional 31% in tariffs compared to 2018. He has had to raise his prices to consumers and so our sales have dramatically slowed down“
Lol. It’s not the tariffs. Denial is a river in Egypt.
