Global markets are rebounding as the president softened his protectionist rhetoric and his criticism of the central bank. But investors want to see results on trade.

Treasury Secretary Scott Bessent appears to have emerged as a leading moderate voice on trade.Doug Mills/The New York TimesTrump’s sustainability problem

Business leaders and investors have warned for weeks that President Trump’s trade war is unsustainable, and that his recent attacks on the Fed risk market chaos.

Trump appears to be getting the message, to markets’ delight. But what does that mean for the president’s agenda, and for the economy?

Global stocks are rebounding on Wednesday after Trump retreated on two major points:

He said he did not plan to fire Jay Powell, despite repeatedly threatening the Fed chair over his outlook for interest rate cuts. (Powell has said he can’t legally be fired.) Trump still

Keep reading this article on Andrew Ross Sorkin – Author New York Times.

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