Tangle Trump softens on China and Jerome Powell.
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Apr 24, 2025 In a surprising turn, President Trump softened his criticisms of Jerome Powell and signaled intentions to lower tariffs on China, triggering a stock market rally. The podcast dives into the intricate connections between political moves and market reactions. It also addresses bipartisan views on trade policies and the potential U.S.-India trade deal. Throughout, the shifting landscape of U.S.-China relations and the economic implications of Trump's evolving rhetoric are explored, painting a complex picture of current economic dynamics.
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Trump Softens on Powell and Tariffs
- President Trump softened his stance by stating he would not fire Fed Chair Jerome Powell but urged him to lower interest rates.
- He also indicated plans to reduce U.S. tariffs on China, sparking stock market rallies amid trade negotiation hopes.
Bipartisan Support for Stability Moves
- Both political sides agree Trump's decision not to fire Powell and to lower tariffs on China brings market stability.
- Firing Powell would induce economic instability, harming investors and ordinary Americans alike.
Left Warns Against Undermining Fed
- The left sees Trump's backing off firing Powell as positive and worries about threats to Fed independence.
- They argue undermining the Fed risks confidence in the dollar and economic damage.