Jerome Powell gave a highly anticipated speech today about monetary policy. President Trump apparently wanted him to announce that he would slash interest rates. Instead, Powell said there are limits to what he can do in the midst of the ongoing trade war with China. Trump tweeted in response: Embed:
....My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?— Donald J. Trump (@realDonaldTrump) August 23, 2019
And China announced retaliatory tariffs today on American goods like cars, nuts, soybeans and oil.