Wall Street Breakfast Trump's tariff threats, Fed signals moderate pace
Nov 27, 2024
Investors are brushing off Trump's latest tariff threats while the Fed hints at a cautious approach to rate cuts. Crude oil imports won't receive exemptions, raising concerns among U.S. oil producers about future drilling. Meanwhile, Bitcoin is experiencing a pullback, teetering near the $90K mark. A wave of retail earnings sheds light on the challenges businesses face as the holiday season approaches. OPEC's decisions are pivotal amid shifting global demand and the looming tariff landscape.
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Market Reaction to Trump's Actions
- Investors disregarded Trump's tariff threats, focusing on his Treasury Secretary nomination.
- Markets reacted positively to the nomination, viewing it as a sign of stability and competence.
Fed's Cautious Tone on Rate Cuts
- The Federal Reserve signaled a potential slowdown in rate cuts if inflation remains high.
- Policymakers discussed moving towards a more neutral policy stance.
Tariff Plans and Inflationary Risk
- Trump's tariff plans pose an inflationary risk.
- A UBS CIO believes solid U.S. growth can offset the impact of selective tariffs.