President Trump, Jerome Powell, China discussed on Marketplace All-in-One


Once again, the president criticizes the fed and China India up from marketplace in New York. I'm Sabrina short in for David Brancaccio President Trump had fresh criticism for Federal Reserve chair. Jerome Powell this time. It was in an interview with Reuters in which the president also bashed China a few days before trade talks are resuming in Washington, marketplace's, Nancy, Marshall genzer joins me now live from Washington. Let's start with the children Powell. What exactly did Trump have to say about the chair of the Federal Reserve. The president told Reuters, he's quote not thrilled with the fed for raising interest rates. He said, fed chair, Powell should do more to help him grow. The economy Trump is afraid that interest rate hikes from the federal choke off growth. Powell has clearly said he will act independently and in an interview with marketplace just last month. Powell said he's quote not concerned about political pressure. He said he's focused on carrying out the feds mandate from congress on inflation. And unemployment. Later this week, the US and China are gonna begin trade talks, how is the president setting up expectations? For those talks, the president said he didn't think much would come out of this week's talks. So he's setting expectations very low. The president also said he doesn't have a timeframe for ending the trade conflict with China and the president also talked about currency manipulation. That's right. He accused China and the European Union of manipulating their currencies, lowering them to make their exports cheaper. The dollar fell after Trump's remarks. Now it's important to remember the treasury department has not officially labelled either the e u or China as a currency. Manipulator treasury uses a three part test to determine if a country's manipulating it's currency. The test looks at how much of a trade surplus a country has with the US and the world, and whether countries persistently intervening in markets to drive down its currency, the EU and China just don't meet those criteria. All right. Marketplace's Nancy, Marshall, genzer. Thank you so much, and let's take a look. The numbers. The footsie in London is down two tenths of a percent. Dow s and NASDAQ futures are up in the two to three tenths percent range of the Dow future up sixty points. The ten year treasury yield is at two point eight, four percent. You know, when we talk about an economy that's heating or overheating, it may seem abstract, but eventually these big trends do start to trickle down into reality. Then show pretty clearly in here is an example. The price of used cars hit a record high this summer. In fact, by July, which is usually a slow month used car. Prices had grown five point, one percent from the previous year that's according to recent data from Cox automotive marketplace's..

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