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Will Stocks Roll Over as Soggy US Retail Sales Threaten Growth?
Financial markets seesawed as news outlets lit up with rumors warning that US President Donald Trump is getting ready to fire Federal Reserve Chair Jerome Powell, only to be quickly quashed by the chief executive himself. A letter was reportedly drafted to sack the central bank chief, and the idea floated to members of Congress. The US dollar plunged alongside stocks and Treasury bonds, echoing the “sell America” price action on display in early April when the White House unveiled its so-called “reciprocal” tariffs scheme. As with that episode however, signs of acute market panic spurred the President into a ... (full story)
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