It was the eighth rate cut in the past year, extending the bank’s divergence from the Federal Reserve, which has held rates steady since the end of last year.

© Jana Rodenbusch/Reuters

Moody’s announcement last week means that not one of the firms that rate America’s debt still consider it pristine.

The markets have come around to the Federal Reserve chairman’s cautious approach to lowering interest rates. President Trump could be a tougher convert.

China’s central bank acted shortly after news that officials from China and the Trump administration will hold their first formal trade talks since the punishing tariffs began.

The economist Kenneth Rogoff traces the dollar’s rise — and potential fall.

Washington and Beijing increasingly look likely to de-escalate their trade war. But the economic damage and ongoing uncertainty may persist for a while.

After an early wobble, markets resumed rising after Chinese officials contradicted suggestions from President Trump and others about tariff negotiations.

President Trump has said his punishing tariffs would force companies to build factories in the United States. But it is far from clear that they will have the effects he predicted.