Minneapolis Federal Reserve President Neel Kashkari says the biggest gift the U.S. economy could receive this year is clarity on trade. Instead, corporate boardrooms remain spooked by Washington’s tariff volleys, and that has the central banker “nervous” about a wave of future layoffs.
What Happened: Speaking at the University of Minnesota on Thursday, Kashkari said executives he meets aren’t cutting staff yet but are starting to plan for that possibility if uncertainty drags on. “The thing about confidence is if we all get nervous at the same time, it can really slow the economy down,” he warned, reported Reuters.
Kashkari argued the long-running U.S. trade deficit has actually kept interest rates in check because global investors park money here, according to a separate report by Seeking Alpha. Flip that to a sustained surplus, he said, …Full story available on Benzinga.com
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