Tomorrow (Saturday) is National Chess Day, a holiday that has been in existence since the proclamation of President Gerald Ford in 1976. The game revolves around ‘power and conflict’ where intelligence, strategy, and patience are key, and calculated risk reward trade-offs need to be assessed on a continual basis. To win, you need to make the correct moves and make sure your pieces are in the right place at the right time. Today, these same dynamics confront global policymakers and investors as President Trump and President Xi go ‘head-to-head’ in negotiating a trade deal, Fed Chair Powell weighs the potential impact of further interest rate cuts, CEOs assess capital expenditures and hiring decisions in the midst of potential negative earnings growth and investors seek to structure their portfolios amid unrelenting periods of volatility.
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