By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- United States President Donald Trump said on Tuesday that he’s not planning to oust Jerome Powell as chair of the Federal Reserve. Trump claimed he never planned to fire Powell and blamed the media for creating the notion. However, Kevin Hassett, Trump’s national economic council director, said on Friday the president explored whether he had the authority to do so or not. Trump has been highly critical of Powell, accusing the Fed chair of not cutting the central bank’s interest rates quickly enough.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- Also on Tuesday, President Trump said U.S. tariffs on imports from China could “come down substantially but won’t be zero.” Trump explained that if there’s a trade deal with China, each country’s levies on the other could be reduced. The president’s comments came after Treasury Secretary Scott Bessent stated the standoff between the world’s two largest economies is unsustainable. Trump’s comments on China and about Powell brought relief to the markets.
- The International Monetary Fund warned President Trump on Tuesday that his array of reciprocal tariffs is generating uncertainly in the global economy. The IMF said Trump’s levies surpassed those during the Great Depression. With that, the IMF lowered its projection on U.S. economic growth to 1.8 per cent in 2025 from 2.7 per cent.
- Conservative leader Pierre Poilievre revealed his party’s election platform on Tuesday, only six days ahead of Canadians casting their ballots. Included among the Tory planks for agriculture were preventing foreign governments from acquiring Canadian farmland, to scrap the capital gains tax hike, eliminate all carbon pricing and to maintain strategic tariffs on China. Voters head to the polls on Monday.
