Yellen’s Path Cleared by Trump’s Moderation / by Marc Chandler / February 12, 2017

There is a lull in the maelstrom launched by the Trump Administration.  His ban on immigrants from seven of the ten Muslim-majority countries in the Middle East has been stymied by the judicial system that has emerged as a check on the assertion of executive authority but is on its way to the Supreme Court.  He backed off after goading China by threatening to recognize Taiwan.

After accusing Japan of manipulating its currency, Trump reportedly did not broach the topic with Prime Minister Abe in their meeting before the weekend.  The Administration also eased some concerns by underscoring its commitment to NATO, despite Trump’s claim it was obsolete.   Contrary to earlier reports, the US apparently has agreed to continue sanctions against Russia associated with the aggression in Ukraine.  After seemingly encouraging a more aggressive Israel, President Trump warned that its construction efforts on the West Bank were not helpful for peace.

Not only did Trump move back toward more traditional positions, but he also threw investors a bone.  Investors and businesses have been eager for more details on the President’s economic agenda.  After meeting with airline executives, Trump announced that “phenomenal” tax reform

Read more ... source: The Bitcoin Channel

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