Sorry haters, the economy is still keeping Trump's 2020 hopes alive.
President Donald Trump smiles while speaking at a rally at Resch Center Complex in Green Bay, Wisconsin.
Household debt of equivalent income was over 144% 10 years ago and is now at 99%, according to Federal Reserve data. Americans drastically cut personal spending. Even without Americans shopping with reckless abandon, the stock market made a new high for the year last week. And while the S&P 500 is a poor indicator of the true economic sentiment on Main Street, Wall Street’s confidence is telling. It tells us that big investors believe wholeheartedly that the Fed’s dovish tilt means no rate hikes this year. There was supposed to be three to four coming.at the October 2019 Fed meeting.
The Fed’s decision to put rake hikes on hold allowed the Republican tax cuts to work there way into an economy no longer threatened by a more contractionary rate policy. Today, rate hike probabilities going into January 2020 are at zero. Not only is there no recession in sight here at home, but there is no recession on the horizon in China either.
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