Business Maverick: Thursday May 2: Five Things You Need to Know to Start Your Day

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Business Maverick: Thursday May 2: Five Things You Need to Know to Start Your Day By Bloomberg

Jerome Powell showed no signs of giving up the Fed’s patient stance on interest rates, despite conflicting currents in the economy. As Fed policymakers wrapped up their two-day meeting, they voted unanimously to keep borrowing costs unchanged, a day after Donald Trump’s demand that they cut them by a percentage point to fuel growth. Still, traders have expected the next move to be a downward one in light of subdued inflation, which the Fed indicated might pick up.

The two sides are getting closer to a deal that includes a staged rollback of Trump’s tariffs, with some staying until after the 2020 election, Politico reported.Theresa May and her archrival Jeremy Corbyn look like they’re nearing one, after a month of talks that seemed doomed. Both camps talked up the prospects, and Wednesday, May signaled she might budge on a key red line: a permanent customs union with the EU.

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