- Data shows imported goods prices dropped.
- Fed very data-dependent.
- I expect they will catch up soon.
- We at the White House 100% respect Fed independence.
- Tarriff revenue important for deficit reduction.
- Hopeful that India will open up its markets to us.
- EU and Japan deals will help with capital spending boom.
- A deal with India will be an absolute game changer for the global economy.
- We are looking at 4% growth for Q3.
- Will have additional info on the India penalty shortly.
- Still hope for progress with India.
On China trade:
- Trump to be briefed today.
- Trump will probably want changes before agreement announced.
- Ground is set for very positive developments.
The GDP data today surprised to the upside and it was preceded by a strong ADP employment report. We have the FOMC decision later in the day where the Fed is expected to keep rates unchanged. For a comprehensive preview click here.
