Market Update: Tariff Pause Boosts Sentiment, Fed Steady
Investor sentiment dramatically changed after Treasury Secretary Scott Bessent and other members of the Trump administration announced a temporary pause on tariffs with China. Was that sentiment shift warranted and did anything materially change? Estimates of the effective tariff rate continue to vary and have wide confidence intervals. Volatility will likely remain as the Trump […]
Weekly Bottom Line
U.S.-China trade tensions were toned down this week, with both countries agreeing to a temporary truce that would see some tariffs on each other’s goods come down substantially. Following a strong showing in March, retail sales barely grew in April. The details hinted at consumer efforts to get ahead of potential tariff-related price hikes. Housing […]