US President Donald Trump crossed the wires in the last minutes arguing that the Fed needs to be proactive and cut interest rates. Regarding the tax cuts, Trump said his administration is looking at possible options. “We are always looking at payroll tax,” Trump added and noted that the US was ‘very far’ from a recession.
Hopes of tax cuts seem to be helping the US Treasury bond yields to recover from its lowes. At the moment, the 10-year T-bond yield is still down 2.45% on the day and the US Dollar Index is down 0.2% at 98.17.
Regarding the US-China trade dispute, Trump repeated that he is not yet ready to make a deal with China.
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