Fed says business are worried about Trump's trade war despite economic growth

The U.S. Federal Reserve on Wednesday reported that its contacts at companies across the country were worried that international trade tensions could weigh on business even as economic activity picked up.

The Fed's so-called "Beige Book" report, a compendium of anecdotes on the state of the economy, pointed to numerous cases of businesses citing concern over the Trump administration's trade war with China. The report was prepared with information from business contacts through May 24, meaning it caught none of the uproar in business circles over U.S. President Donald Trump's threat last week to slap new tariffs on all Mexican imports if Mexico doesn't crack down on illegal immigration into America.

"Several contacts indicated a down shift in demand growth if there is a not a resolution to the trade dispute with China, although a few were optimistic that an agreement would be reached and benefit the U.S. long term," according to the latest Beige Book report, which was prepared by the Minneapolis Fed.

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Stocks in Asia set to trade higher; Fed signals potential rate cutStocks in Asia were set to trade higher on Tuesday amid ongoing global trade tensions. The Reserve Bank of Australia is also set to announce its interest rate decision later today. Market manipulation. Shocked it’s not Trump or his admin, but Bullard is now just Trump’s mouthpiece. realDonaldTrump forced the Fed’s hand. Ppl who actually have savings get punished as rates tumble again. And EustanceHuang this title is very misleading and laughable. The Fed didn’t signal anything, Bullard just jawboned these markets higher with his personal opinion.
Source: CNBC - 🏆 12. / 72 Read more »