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But economic damage from a trade war is not the most significant risk, he said. In his book, he coined the catchphrase "Thucydides's Trap" and its meaning.

But on the flip side, St. Louis Fed President James Bullard told Bloomberg Television he does not believe a cut of a half-percentage point (50 basis points) is warranted at the FOMC (Federal Open Market Committee) meeting in July, even though he was in favor of cutting rates last week.

But homelessness is more complicated than the cost of housing. All Home, the organization coordinating King County’s homelessness response, released results of its annual survey of the region’s homeless population in late May. Respondents self-reported what caused them to become homeless. Just 6 percent said “inability to afford rent increase” while an additional?11 percent said eviction. The remaining participants cited issues like losing a job, addiction, illness, and domestic issues.

But after the US economy grew 4.1 percent in the second quarter, and the European Union agreed to a cease-fire in the trade confrontation with the US, Trump declared it a victory for his tough policies.

But he cautioned that "there is a strong need not to become complacent in response to upward trending headline figures."