White House on Trade Deals and Federal Reserve Independence

Trade Deal Updates with China

• 🎯 The White House reports 18 proposals from various countries for potential trade deals with the US.
• 🤝 US economic officials are scheduled to meet with 34 countries this week.
• 📈 Regarding China, the President stated that the US is doing very well in respect to a potential trade deal, and the ball is moving in the right direction.
• 💬 While direct communication between President Trump and President Xi was not detailed, the administration is setting the stage for a deal.
• ⚠️ Treasury Secretary reportedly described the trade standoff with China as unsustainable, though negotiations have not yet started.

Federal Reserve and Interest Rates

• 🏛️ The President believes the Federal Reserve has been making moves in the name of politics rather than for the American economy.
• 💰 He has expressed his displeasure and believes interest rates should be lower, allowing Americans to borrow money more cheaply.
• 🧐 Concerns have been raised about the Fed's independence and whether actions are for partisan reasons rather than the best interest of the economy.
• ⚖️ Legally, Federal Reserve board members can only be forced out before their terms expire "for cause", and Powell's term expires around 2028.