The Federal Reserve Open Markets Committee finally admitted it. China is a problem. Not in the way that President Trump and the hawks in his cabinet say China is a problem. But higher U.S. interests rates are a problem, not only for U.S. equities but for all of China. According to their meeting minutes released on Wednesday, "concerns over escalating trade tensions, global growth prospects, and the sustainability of corporate earnings growth were among the factors that appeared to contribute to a significant drop in U.S. equity prices." The government shutdown, or the threat of a shutdown, was not even mentioned ... (full story)