[ad_1]
August employment report and trade negotiations with China
Edward Lawrence, of Fox Business, spoke about the number of jobs created in August and the intervention of Jerome Powell, of the Federal Reserve, in the trade war related to the US economy.
Hours after Federal Reserve Chairman Jerome Powell said he did not see the US slipping into recession despite the uncertainties surrounding the China-China trade war with China, President Trump held a few words for Twitter subscribers to talk about China's economic strategy.
In a late-night tweet, Trump said Beijing needed to boost its economy because of US tariffs on more than $ 350 billion worth of Chinese goods, but again criticized the US central bank, saying it "does not nothing!"
"China has just put in place a major stimulus package. With all the tariffs they pay in the United States, billions and billions of dollars, they need it! Meanwhile, our Federal Reserve sits down and does nothing! ", He wrote in the tweet.
In a statement released Friday on its website, the People's Bank of China announced that it would reduce the amount of cash that banks are required to keep in reserve. This change is shifting the country to the lowest level of capital reserves since 2007.
China's economic stimulus package is expected to add $ 126 billion in available loans to boost growth.
Powell, Friday, while speaking in Zurich, Switzerland, said he "would not see the recession as the most likely outcome in the United States."
"The most likely outlook is still moderate growth, a strong job market and rising inflation," he said.
When asked if he felt if politics had influenced the decisions of the US central bank, he insisted.
"Political factors play absolutely no part in our process, and my colleagues and I would not tolerate any attempt to include them in our decision-making or our discussions," he said.
More on FOXBUSINESS.COM …
Trump has often blamed Powell for stifling economic growth by raising interest rates in 2018.
In July, Fed policymakers cut interest rates for the first time since the financial crisis. It is expected that they will lower their rates by an additional 25 basis points at their next meeting on September 18th.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
[ad_2]
Source link