North Korea’s foreign minister told the press Kim Jon Un wants to be on camera more, so he’ll start firing missiles at Japan and South Korea soon. The meeting between North Korean officials and Pompeo’s state department didn’t go well. The North Koreans wanted to lock Bolton up for his plan to blow North Korea off the map, and they feel the same way about Mike Pompeo. Kim wants to deal with is Trump, but the Trumpster is up to his neck in impeachment sludge, according to the New York Times.
The impeachment inquiry will impact America’s economy. But it’s not just all the Washington chaos that will take the air out of consumer confidence. Gross Domestic Product growth slipped from 3.2 percent in January 2019 to less than two percent at the end of September. Wall Street economists think GDP growth will be close to zero at the end of the year.
Mr. Trump wants Fed Chairman Jay Powell to cut interest rates to zero to offset his sinking economy. But some Fed members say cutting interest rates won’t stop the oncoming recession. Those members want to raise the interest rate or keep it the same. Mr. Powell told a group of bankers in Denver the Feds may not cut rates again in 2019.
Whatever Powell does is wrong, according to the president. Trump calls Powell a loser even though he nominated him for the job. Trump’s pissed because he can’t fire him, according to the Washington Post.
The Chinese just bought tons of pork due to an outbreak of the swine flu. Chinese importers also bought three hundred thousand tons of soybeans. China told Trump they would buy 30 million tons of soybeans instead of 20 million tons in 2020 if he drops the tariffs. Trump wants a trade win even if he has to holster his Tariff weapons.
Erdogan and Trump both got what they wanted when Mr. Trump let Turkish forces crush the Kurds. Trump got the chance to be the hero who will stop Erdogan from doing what he told Trump he would do. Mr. Trump offered three solutions to the problem he created just to show his voter base human life doesn’t matter. His reelection is the only thing that matters to him, according to the New York Times.
The Feds finally ended the post-crisis rule that impacted capital and liquidity requirements for domestic and foreign banks. Those changes will help Capital One, Bancorp, and PNC Financial. The Feds also eased the rules on those annual bank health checkups and derivative trades. The changes conform to the legislation Congress passed in 2018.