The president jumped all over the recent demise of ISIS leader Al-Baghdadi. Mr. Trump claimed he was the one who sent the vicious leader to his maker even though the methods used to bring the villain down are not in his presidential handbook.
The Syrian Kurds, American forces on the ground, and U.S. intelligence agencies worked together to end the reign of Al-Baghdadi. Mr. Trump wanted to pull all American forces out of Syria, and he let Turkey have their way with the Syrian Kurds, plus he calls American’s intelligence agencies members of the deep state. But it was cooperation between those groups that ended the ISIS leader’s life.
Mr. Trump spent 48 minutes in front of the cameras explaining the details of the mission. Details Pentagon officials wished he never mentioned. But Trump needs to take attention away from the impeachment inquiry. This new development will give him the opportunity to tell his voter base it was his plan that produced the successful mission.
Wall Street economists think the Feds will cut interest rates again at the October meeting. The economy isn’t as great as Trump claims it is, according to MarketWatch. The best way to stimulate the economy is to cut interest rates, according to old school economists. But there are other factors to consider now that Trump’s tariff war let the air of the global economy.
Japan tried to stimulate their economy by lowering interest rates below zero, but that move hasn’t helped Japan’s economy. Mr. Trump’s tariffs upset the global marketplace. Manufacturing slowdown around the globe thanks to breaks in the supply chain as well as logistical nightmares and price increases.
China’s economy pulled the world out of the nasty 2008 recession. But thanks to the trade war and the fact the Chinese have too much debt, it’s up to emerging markets like India, South Korea, and Brazil to kick start the global economy. But the dollar’s strength hurts those countries because they tend to use U.S. dollars to do business. A strong dollar hurts their buying power.
But investors still want the Jerome Powell and the Feds to cut interest rates. They hope another cut will weaken the dollar, but the last rate cut didn’t have that kind of impact on the dollar. The Feds have other issues to deal with like a repo market that keeps begging for more cash, and a president who claims Powell and the Feds are enemies for not acting fast enough to save his shrinking economy.
Dil Bole Oberoi
