“It’s a binary outcome,” he said. “Either trade talks are back on and we’re going to work towards a deal, or things didn’t go well and President Trump is going to go forward with that next round of tariffs.”
Versace stressed that although expectations are high that the Fed will reduce rates in their meeting next month, what happens in the summit will have an effect on their decision.
“If we come out of this and trade talks are still in process, that means the existing tariffs are still on,” he said. “I think investors are going to get nervous about the expectations for the back-half of the year.”
- Source, Kitco News
