- Dollar and U.S. bond yields rose as Wall Street fell on Wednesday as investors digested U.S. and euro zone GDP figures, new tariffs from the White House, and Fed Chair Jerome Powell’s press conference. Brazil may be at a disadvantage in trade negotiations with the Trump administration due to politics.
- Powell emphasized that the Fed is in no rush to cut rates, despite dissent from two policymakers. Traders slashed September rate cut expectations, leading to dollar and yield gains while Wall Street erased its advances.
- Brazil faces a 50% tariff if no deal is reached by week’s end, potentially costing over 100,000 jobs and impacting economic growth. High interest rates and debt are adding pressure to the country’s financial situation.
Read more at Yahoo Finance: Powell in no rush to cut