Global Markets: U.S. Federal Reserve pressured to cut interest rates

By MarketsFarm

WINNIPEG, June 11 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– United States President Donald Trump has criticized the U.S. Federal Reserve, claiming interest rates are too high for the current economy. Though presidents typically do not comment on the nation’s monetary policy, the Federal Reserve may decide to cut interest rates in coming months due to inflation data, weak job growth, and trade wars between the U.S. and numerous other countries.

– A Japanese firm is no longer supplying goods to Chinese businesses blacklisted by the United States, which is the latest move in the ongoing trade war between the U.S. and China. Though non-U.S. firms are not obligated to follow U.S. laws, foreign businesses are siding with the U.S. “It’s crucial for us that the U.S. government and industry see us as a fair company,” said an executive at Tokyo Electron. The company has been importing U.S. equipment since the 1960s, according to Reuters.

– While it is rumoured that U.S. President Trump and Chinese leader Xi Jinping will continue trade talks at the G20 summit in Japan later in June, China would not confirm if such a meeting will take place. “We note that for some time, the U.S. has made multiple public statements that it looks forward to a meeting between the two heads of state during the G-20 Osaka Summit,” said Foreign Ministry spokesman Geng Shuang, according to the Canadian Press. “We will release information on this when we have it.”

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