Wall Street’s major indexes surged to one-week highs on Wednesday, driven by optimism for a thaw in the U.S.-China trade war and President Donald Trump’s softened stance on Federal Reserve Chair Jerome Powell. Hopes of talks between Washington and Beijing, amid the tariff conflict, boosted market sentiment following a Wall Street Journal report quoting a senior White House official, who suggested U.S. tariffs on China could drop to around 50%-60%. President Trump said on Tuesday of China, “We’re going to live together very happily and ideally work together,” and that tariffs on goods from China will “come down substantially, but it won’t be zero.” He also told reporters he would be “very nice” in negotiations with Beijing and that if China does not agree to a trade deal, “the U.S. will set the terms.” Reuters:
As we wrote in February 2023, “When certain quarters, including the Fed, delude themselves and others that ‘inflation is transitory’ and waste at least a year before doing a mere portion of what is necessary* (interest rate hikes), the price will be paid for being delusional and late.” ‘Tis best to get a handle on inflation, if you know how, while you still can. – MacDailyNews, May 11, 2021 *Stop the misguided crusade against domestic energy production and profligate federal spending and inflation will be stopped dead in its tracks. It’s not difficult. – MacDailyNews, May 11, 2022 For new generations, sometimes tough lessons have to be retaught and learned the hard way. As we go through this, remember: It’s always darkest before the dawn. – MacDailyNews, July 14, 2022 After drifting around aimlessly for far too long on the U.S.S. Transitory, the delusional Fed is laughably too little, too late. Catching up will be difficult. – MacDailyNews, September 13, 2022 Inflation is repudiation. — Calvin Coolidge When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill… [which] comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident. — Ronald Reagan Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post Tariff optimism spurs rally on Wall Street appeared first on MacDailyNews. You're currently a free subscriber to MacDailyNews. For the full experience, upgrade your subscription.
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Wednesday, April 23, 2025
Tariff optimism spurs rally on Wall Street
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