The Fed hastily delivered a soothing message last week by promising to act appropriately to maintain the expansion. It was hard not to read that as dovish. That combined with the employment data puts a rate cut in play this summer. The Trump administration announced that Mexico had agreed to help stem the flow of immigrants into the U.S. In return, the threat of tariffs has been lifted indefinitely. That said, I doubt the coast is clear entirely. I suspect that if Trump perceives this as a win, he will use this tool again. Last Friday the BLS delivered a disappointing Employment Report for May.The earlier-released ... (full story)