Big Summit For Our Economy
The event of the year is occurring later this week when President Trump and Chinese President Xi Jinping meet at the G20 summit. A successful outcome, defined by a mutually beneficial trade agreement with no additional taxes implemented on either side, could reignite global economic growth. Clarity is good for hiring, encourages business investment, and promotes consumer spending. A seemingly negative impact on the housing industry could be higher rates, but we need to think about the bigger picture. Higher rates would be a sign investors are less concerned about an imminent recession. Not reaching a deal, however, could mean that the 'growing but slowing' economy of today could persist and potentially worsen.