His most striking point was that the dollar’s position as the world’s reserve currency must end, and that some form of digital currency — similar to Facebook Inc’s proposed Libra — would be a better option.
BNN Bloomberg sets up the week ahead with what investors need to know.
Trump took to Twitter to bemoan a “very strong dollar and a very weak Fed,” and said that he’ll be responding to China’s latest round of tariffs later in the day.
David Rosenberg says the U.S. Federal Reserve needs to cut interest rates by 50 basis points, citing the knock-on effects of global trade uncertainty and economic slowdowns will “hit home” for the world’s largest economy.
Federal Reserve Chairman Jerome Powell said the U.S. economy is in a favorable place but faces “significant risks” as growth abroad slows amid trade uncertainty.
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