Trump's tariff policy has severely impacted the USA economy.
Xinhua News Agency Peking, March 8 - Title: Trump's tariff policy severely impacts the USA economy. Xinhua reporter Zhang Yirong reported that President Trump recently signed an executive order adjusting the tariff measures imposed on Canada and Mexico, exempting imported Commodities that meet the preferential conditions of the US-Mexico-Canada Agreement from tariffs. From the announcement of the tariff increase on the 4th, to the exemption of the three major Auto Manufacturers on the 5th, and then the announcement to postpone the implementation of tariff measures on the 6th, the tariff policy of the US government has been changing rapidly, making people dizzy. Although Trump denies that the tariff exemptions and other policy adjustments are related to the recent market turmoil, market analysts point out that an increasing number of unfavorable economic data and market trends are emerging.
Powell: Not in a hurry to cut interest rates until the impact of Trump's policies becomes clearer.
① The Chairman of the Federal Reserve, Powell, stated that despite the economic uncertainties added by the Trump administration's policies, the economy in the USA remains strong, and there is no rush to adjust MMF policy; ② Powell mentioned that the uncertainty surrounding these changes and their potential impacts is still very high. Our focus is on distinguishing signals from noise as the outlook changes.
Powell: The current USA economy is robust, and the Federal Reserve does not need to rush to adjust interest rates, but the uncertainty surrounding Trump's policies remains high.
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Federal Reserve Board member Bowman: The USA economy shows strong resilience, and the neutral interest rate may have risen.
Fed governor Bowman stated that since the COVID-19 pandemic, the neutral level of the Federal Reserve's policy interest rate may have risen.
February Nonfarm Payrolls Miss Views, Unemployment Rate Ticks Higher
Employers Added 151,000 Jobs in February, Unemployment Rose to 4.1% -- 3rd Update