US Stocks Hit Record Highs Despite Recession Fears; Trump's Russia Stance Shifts
US stock markets have hit record highs despite signs of an impending recession and poor employment data. Meanwhile, former President Donald Trump's decision to allow Ukraine to use long-range weapons against Russia has escalated tensions with the country, a move that contrasts with his previous stance towards Vladimir Putin.
Trump's stance on Russia has evolved since his presidency. He had previously been 'lulled' by Putin, but his recent decision to permit Ukraine's use of long-range weapons signals a shift in his approach. This move has further escalated the situation with Russia.
In the US, despite a likely recession and poor employment data, stock markets have reached new all-time highs. However, market history suggests that rate cuts, such as the 87% probability of two more being priced in, do not typically boost stocks during a recession. Jerome Powell, the current Fed Chairperson, is expected to remain in his position until at least late 2024 or into 2025, a decision made by Trump despite some criticism.
Trump's foreign policy shift towards Russia and the market's resilience despite recession signs and rate cut expectations highlight the complex dynamics at play in global politics and economics.
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