Without making this political, the president seems to be giving in a bit for the moment. Yesterday he walked back comments about wanting to fire Jerome Powell, and said that some tariffs would remain in place on China but far less than we have now. He seems to be at least slightly aware that this isn’t causing anything but harm, including costing him political capital.
I’m not convinced he’ll feel that way in a week, but at least there seems to be a little bit of movement in the right direction.
Apparently a bunch of CEO’s went to Washington to warn that we were potentially just a few weeks away from
empty shelves in the US.