Trump tariffs

The case for a Fed rate cut

Data: St. Louis Federal Reserve; Chart: Axios Visuals

The Fed delivered its first conflicted policy decision under Chair Jerome Powell last week, when St. Louis Fed president James Bullard opposed the decision to keep rates at their current 2.25%–2.50% level.

Driving the news: Minneapolis Fed president Neel Kashkari, who is not a voting member of the rate-setting committee, went further on Friday, calling for an unorthodox 50-basis-point cut to U.S. overnight interest rates immediately.

Trump's China tariffs could lead to a Bible tax

Group of people reading the Bible
Photo: fstop123/Getty Images

The Trump administration's proposed tariffs on Chinese goods could starkly impact the printing industry, and lead to a shortage of Bibles and children's books, reports Bloomberg.

Why it matters: The $300 billion tariffs on Chinese goods includes printed materials and would make it difficult to afford printing some formats of the Bible, raise prices and lead to a shortage affecting the Christian bookseller market. Chinese manufacturers also use non-toxic and waterproof material for children's books, and it could be challenging for publishers to achieve that same quality for comparable prices elsewhere, per Bloomberg.