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The G20 report and workplaces call for "a cautious position next week"



Jim Cramer in "Mad Money."

The Federal Reserve probably wants to see the June report on unemployment and the development of US-Chinese trade since the G20 meeting this month before committing to cut interest rates, said Jim Cramer of CNBC. voted on Wednesday to keep its base interest rate unchanged. He also predicts at least one interest rate cut, but not by 2020. However, Fed Chairman Jerome Powell has left open the possibility of lowering interest rates this year at a press conference with reporters after the meeting.

The Fed's decision comes after the world's two largest economies have increased tariffs each other last month. The US has increased China's $ 200 billion in customs duties from 1

0% to 25%. China has announced plans to raise US $ 60 billion in US tariffs. The trade dispute threatens to cut the world economy and trigger appeals to the Fed to cut interest rates or even reduce redundancies in 2019

"Remember that [Powell] did not commit to price cuts next month, he simply said he was watching the situation, "said the host. The Federal Reserve wants to see "the number of employees in June and what the President does next week in the G-20 trade."

The Ministry of Labor will publish its carefully monitored monthly employment report on July 5th.

President Donald Trump is expected to meet with Chinese President Cai Dingping at the G20 summit next week in Osaka, Japan. China was silent if it would agree to face-to-face. Trump, however, hinted at additional tariffs for Chinese goods if he did not sign for a seat.

Kramer said he expects to see on Monday "some review of the talks with China." But Kramer also said he was not optimistic that Trump and C will be able to reach a trade deal at the meeting.

"This week we had a great mileage, but the market is already in overwhelmed territory and there are a bunch of potentially negative catalysts. That's why I'm cautious next week and I suggest you do the same, "Cramer said.

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