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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