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G20 Summit Ends with No Clear Path Forward on Trade or Growth
G20 finance ministers gathered in Buenos Aires on July 22nd to discuss global growth and stability. The summit began with a dark cloud of economic antagonism brewed by the Trump Administration’s recent tariffs and import duties and accusations of currency manipulation. Fed independence was promised after Mnuchin reaffirmed Trump’s full support for central bank autonomy and has no interest in interfering in foreign exchange markets. Global growth continues to be strong but is less synchronized and faces more risk than before, and emerging markets in particular face a high risk of capital outflows and market ... (full story)