Home Economic Growth The Feds Might Cut Interest Rates in July Thanks to Slower Than...

The Feds Might Cut Interest Rates in July Thanks to Slower Than Expected Economic Growth


Former Secretary of State Rex Tillerson had a chance to tell Congress what a dick Jared Kushner really is when it comes to being a team player. Rex told Congress Kushner thought he could do his job. Jared went around Rex and other cabinet members whenever he wanted to please the president. Rex said Kushner and Ivanka made life unbearable for some aides who expected calm, rational decision-making but they got chaos and political bedlam from Jared, Ivanka, and Mr. Trump.

The Chinese let Mike Pompeo know he’s enemy number one in China. China calls Pompeo “a cheerleader for hatred.” Pompeo travels around the world bashing China for standing up to Trump’s childish and uncalled for tariffs, according to the state-run press.

President Xi plans to tell Trump he must drop the tariffs and reinstate Huawei and keep Pompeo away from them if he wants a trade deal. Mr. Trump says he’ll implement his Plan B if Xi doesn’t accept his terms at their G20 meeting. Plan B is to tariff all Chinese exports.

Mr. Trump continues to throw shade at American allies at the G20. He bashed India for implementing tariffs on U.S. exports. Trump told the press the U.S. gets a raw deal from its trading partners, and he plans to stop the trade imbalance one way or another. Most allies at the G20 think Trump’s tariff and sanction demands, and his shooting war with Iran will create a global recession.

The Supreme Court told Trump’s lawyers they don’t want to rule on Trump’s attempt to add the citizenship question to the census. SCOTUS threw the case back into the lap of the lower courts. Mr. Trump wants to delay the census until he gets a ruling in his favor. Instead of mailing the census on June 30th Trump wants to wait until October 30th.

Second quarter economic reports won’t make Trump happy, according to Reuters. The Feds might cut interest rates by a quarter of a percent in July because consumer and business confidence in Trump’s ability to develop economic growth is at an all-time low.

Government economists predict 2.1 percent GDP growth in the second quarter. Most of that growth will be from inventories and trade. Those components are not reliable indicators of ongoing growth, according to the Central Bank. Without those components, economic growth in the second quarter will be less than one percent, according to Reuters. The Feds also said inflation is back, and they want to control it with a small interest rate cut.