February 06, 2020
U.S. Jobs Report to Contrast Healthy 2020 Start With Weaker Past
“The U.S. job market probably got off to a healthy start in 2020 but may also lose some of the luster President Donald Trump boasted about this week. January figures due Friday are projected to show U.S. employers added about 163,000 jobs — less than last year’s 176,000 average but still enough to keep unemployment at a half-century low. Wage gains are forecast to rebound from a surprise slump in December.”
Lagarde Says All the Blame Can’t Be Dumped on ECB Negative Rates
“Christine Lagarde said the European Central Bank shouldn’t be scapegoated as the sole driver of rising house prices and weaker bank profitability, pushing back against criticism about its ultra-loose monetary policies. The ECB’s deposit rate has been below zero for more than five years and looks likely to stay there for years to come, spurring concern about the negative side effects.”
China to Halve Tariffs on $75 Billion U.S. Goods From February 14
“China will halve tariffs on some $75 billion of imports from the U.S. later this month, reciprocating a U.S. action and likely satisfying part of the interim trade deal. The cut will be effective from 1:01 p.m. on Feb. 14, Beijing time, according to a Ministry of Finance statement on Thursday, the same time as when the U.S. will implement reductions in tariffs on Chinese products. Punitive Chinese tariffs on American goods that were adopted from Sept. 1 last year will be lowered, with the rate on some dropping to 5% from 10%, and the others to 2.5% from 5%.”
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