According to Treasury Secretary Scott Bessent, the United States in China are reaching a peace accord where the United States is withdrawing the 100% tariff from Chinese goods in exchange for China selling the United States more of its rare natural resources.
The Chicago Fed’s Labor Market Indicator shows that the Unemployment Rate will increase next week (pending the government goes back to work) from 4.3% to 4.4%. Chicago’s LMI points out a trend nationwide of a slow down in the hiring rate as well as an increase in the number of people being let go from their jobs.
Despite the labor market concerns, the news of a reconciliation between the world’s two biggest economies is pushing interest rates upward just a touch this morning.
