Global trade tensions are rising and tonight all eyes are on Powell
The US has just increased tariffs on Chinese imports by an unbelievable 245%. This goes beyond trade now and looks more like a power play. China has responded by suspending cargo services to the US. This means that many companies will no longer be shipping anything to or from the US.
This could seriously disrupt global supply chains.
At the same time, all eyes are on Jerome Powell. He will speak tonight at 8:15 pm ET at the Economic Club of Chicago. Markets are waiting for some clues as to whether rate cuts are still on the cards or whether inflation concerns will keep the economy on a cautious note. #FoodCautious.
With geopolitical and financial pressures mounting, Powell’s words could shape the market’s next moves.
Do you think his speech will calm things down or stir things up even more?
