Trump Backs Powell, Boosts Markets
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Federal Reserve ActReuters
•Business
Business & Economics
Trump says he has no plans to fire Fed's Powell; market jumps
77% Informative
President Donald Trump backs off from threats to fire Federal Reserve Chair Jerome Powell .
The de-escalation drew an immediate thumbs up from Wall Street, as equity index futures jumped by nearly 2% on Tuesday evening .
Trump expressed optimism that a trade deal with China could "substantially" cut tariffs, which also provided a boost for investors.
The consensus now among economists is that risks are skewed broadly to the downside from here as the effects of tariffs begin to stack up. The International Monetary Fund on Tuesday slashed its outlook for both U.S. and global growth this year , with Trump 's tariffs policy the central reason behind the downgrade. (Reporting by Nandita Bose in Washington ; Writing by Daniel Burns : Editing by Leslie Adler and Anna Driver ).
VR Score
88
Informative language
95
Neutral language
54
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formal
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English
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53
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