A Stagflationary Shock: CEO Daily

(From L) Italy's Prime Minister Giuseppe Conte, US President Donald Trump and France's President Emmanuel Macron attend a working session in Biarritz, south-west France on August 26, 2019, on the third day of the annual G7 Summit. (Credit: Carlos Barria—AFP/Getty Images)

Good morning. Markets are on a trade-driven roller coaster ride. On Sunday, a Trump spokeswomen poured fuel on the trade fire by saying the President only regretted he was not raising tariffs higher. But then this morning, speaking on the sidelines of the G-7 summit in France, the President said

called the trade war a “stagflationary shock” Wall Street Journal’s Saturday piece Amazon

@alansmurray

the Chinese have called and requested a continuation of talks. “They want to make a deal,” he said. S&P futures whipsawed in response. Don’t expect this volatility to end soon. My guess is Trump stands a better chance of getting what he wants out of Chairman Powell than President Xi. Former Fed Vice Chairman Alan Blinder, speaking on the sidelines of the annual Fed conference in Jackson Hole, Wyoming, this weekend called the trade war a —which means an excuse to ease. Meanwhile, if you missed it, be sure to read the on a many-months investigation that found thousands of products being offered by companies over “that big box retailers would ban from their shelves.” We’ve know for a long time that Big Tech played by different rules than the rest of industry. But that was once viewed as a good thing. Now, the press, politicians and the public are increasingly ready to force them to do what companies in the real world have always had to do: take responsibility for the stuff that happens on their platforms. More news below. Alan Murrayalan.murray@fortune.com