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Interest rate traders increase their bets on the US Federal Reserve Board (FED/Fed) to cut interest rates before the end of the year to cope with the domestic economic slowdown triggered by the US-China trade war.

Expectations for a rate cut in December are back to their highest level since March, after Fed policymakers hinted that they would not raise interest rates in 2019.

The Chinese government said on Monday that it plans to impose a 5%-25% tariff on 5,140 items of the revised $60 billion list of US goods since June 1.

Before China took this retaliatory measure, Washington imposed a tariff on US$200 billion on Chinese imports on Friday because of the stalemate in trade negotiations between the United States and China. US President Trump has said that the Chinese government has retreated in some important commitments made in several months of trade negotiations.

Analysts worry that the tension between the United States and China will escalate into a trade war and damage the global economy.

"If growth concerns are combined with major corrections in the stock market, it will definitely push the Fed closer to cut interest rates," wrote Andrew Hollenhorst, chief US economist at Citigroup, in a research note.

Rosen Glenn, president of the Federal Reserve Bank of Boston, told Reuters on Monday that the Fed can cope with the economic slowdown triggered by Sino-US trade disputes.


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