At all time highs U.S. stock markets have put it all on red on Tax reform with the Trump Adminstration. U.S. Treasury Secretary Mnuchin is out with the spin on the plan and his outlook. Highlights on states, growth and debt follow. The big one, he wants the tax cuts to be retrospective.
The British Prime Minister speaking at the Bank of England conference reminded of the nature of unintended consequences when actions to solve one problem can create others. She is talking about Brexit but could well be allusing to the Boeing-Bombardier fallout.
The NAFTA renegotiation talks completed their third round today in Ottawa, Canada. No surprise the reporters favorite topic, the US imposing 220% duty on Bombardier planes. Negotiators from Canada, Mexico and the U.S. were all positive and look forward to round 4.
St Louis Fed President Bullard playing the role of captain obvious today. He quipped that I am probably the most dovish member of the FOMC and offered equity valuations may be stretched among other gems.
Kansas City Federal Reserve President Esther George is out on the hustings (sorry speaking) in Oklahoma City. She is talking up the Fed, inflation and rate rises. All is good you can rely on the Fed is the message.
European Stability Mechanism (ESM) chief Klaus Regling is over in London pushing the latest wunder tool for crises, 10 years after we are still trying to solve the Greece crisis. Regling wants a ‘rainy day’ fund to counter “asymmetric shocks in the euro zone.
Federal Reserve Bank of Dallas President Robert Kaplan speaking on Inflation and labor gave color to Fed economists study Getting a Jump on Inflation was released. How technology and the U.S. debt level is impeding inflation.
The Indonesia government announced Monday how the sanctions on Russia are an opportunity for the nation to boost their trade. They bartered coffee, palm oil and other commodities for 11 Russian-made Sukhoi Su-35 fighter jets.
On Tuesday the Federal Reserve’s FOMC begins a two day meeting. On Wednesday at 2:00 p.m. ET there will a FOMC statement issued. The Fed is not expected to change interest rates but investors will be looking for more detail on its balance sheet and for further and inflation.