U.S. Economic News
October 21, 2019
U.S. News
The Wall Street Journal reports that Christine Lagarde, former IMF leader and incoming president of the ECB, stated that the U.S. is at risk of losing its global leadership role and urged policymakers to end the trade war between the U.S. and China. She also warned that the Fed should refrain from lowering interest rates because it might accelerate inflation too much given the low level of U.S. unemployment. WSJ
According to the Financial Times, wind power industry leaders have warned that the global trade war is endangering progress on renewable energy by inflating prices and disrupting supply chains. Although the costs of wind turbines and other renewable energy technologies have fallen dramatically over the past decade, trade tariffs, protectionist policies, and a worsening environment for cross-border investment threaten to undermine improvements in the global cost of clean energy. FT