Trump: It is a good time to cut rates

Minutes after the Fed kept rates unchanged and had 3 dissenters to having an easing bias and with oil trading above $107, and with gas prices moving to $4.23 a gallon, Pres Trump is saying “Now is a good time to lower rates”

Fed Chair Powell in his press conference says that he will stay on as a Fed Governor through his term, but maintain a low profile.

Trump also says:

• Blockade has been genius and foolproof.
• Shows how food the US Navy is
• All Iran has to do is cry “Uncle”
• He said they will conduct talks by phone
• Says there will never be a deal until they agree no nuclear weapons

The WSJ reported today thatIran’s economy is under severe strain from war and blockades, with unemployment surging, inflation near 67%, and the currency hitting record lows. Basic goods are increasingly unaffordable, and businesses are shutting down across multiple sectors.

The conflict has turned into an economic standoff with the U.S. Iran’s closure of the Strait of Hormuz and the U.S. naval blockade have choked off key oil revenues, with both sides betting the other will crack first.

Government finances are stretched thin as revenues fall and war damage mounts. Efforts to offset the impact—subsidies, wage hikes, and alternative trade routes—have provided only limited relief.

Economic hardship is at its worst in decades, raising the risk of renewed unrest and political instability.

This article was written by Greg Michalowski at investinglive.com.