'The president is not backing down,' says CNBC's Jim Cramer, referring to Trump's repeated calls for the Fed to cut rates while talking tough on China.
At the same time, the Fed will consider whether to reduce the cost of borrowing money at its September meeting — two months after cutting rates for the first time in more than a decade. The market expects, with near certainty, that the central bank will cut rates again next month — a move Trump has repeatedly said is necessary.10-year Treasury yield
briefly inverted and went below the 2-year yield last week for the first time since before the 2008 financial crisis. It happened again Wednesday and Thursday. Such an inversion has preceded every recession over the past 50 years. However, on average, it takes up to two years for a recession to materialize.
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