Steve Liesman
CNBC senior economics reporter. Husband, father, journalist, guitarist and fly fisherman. (The Lies-man joke has been made. It’s not fresh. It’s my father’s father’s name, bastardized at Ellis Island. Move along.)
- Imagine the next time the president puts in place a crazy policy like 145% tariffs on China. What if the market is convinced it’s just a bluff and doesn’t sell off, so he doesn’t back off? Believing the president would blink was the right strategy this time, but only because of the...
- The agreement with China has not only cut tariffs, it has also restored summer vacation for Fed watchers. The first cut, which had been priced in for July, has now moved to September. July had been priced with a 69% cut probability, which now 42%. All subsequent cuts have been pushed ahead.
- Call me old-fashioned, but I think it’s inappropriate for the president to call the fed chair a fool, whatever he thinks of Fed policy. Note that all FOMC voters, including the 2 Trump nominees, approved of yesterday’s decision. 77% of respondents to the CNBC Fed Survey had agreed w/ no rate change.
