Mixed messages on the economy | Retail bright spot: Target | Watching the Fed

Trump reverses course, says he's not considering tax cuts, because of 'strong economy'  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE THU, AUG 22, 2019 WHERE BUSINESS AND POLITICS CONVERGE EDITOR'S NOTE Hi readers, It's been a week of mixed messages from the White House on how it would respond to growing concerns about a potential recession. On Tuesday, Trump said he was thinking about a payroll tax deduction, but argued it was "not being done because of a recession." By Wednesday, the president said he was no longer looking at a tax cut, saying the economy is strong. Jacob Pramuk and Eamon Javers report on what's been happening behind the scenes at the White House. Meanwhile, central bankers have descended on Jackson Hole for the Federal Reserve's annual symposium to ponder the state of the economy. Steve Liesman has been speaking with key players including Kansas City Fed President Esther George, who tells CNBC the July rate cut was not needed citing a strong economy, and Philadelphia Fed President Patrick Harker who said he doesn't see the need for another rate cut. The main event: a speech Friday morning from Fed Chair Jay Powell, which will be closely watched by investors … and of course, President Trump, who has been calling on the Fed to cut rates. If you're looking for reasons to be optimistic about the U.S. economy, head over to the aisles of Target. The stock soared to a record this week after reporting higher sales and a positive full-year outlook, reports Leslie Josephs. But (yes, there's a but) sales growth is slowing at the 500 largest publicly traded U.S. companies. This has economists scratching their heads to figure out if we're headed for a recession. No doubt, the global economy will be a top focus at the G7 this weekend. Eamon Javers and CNBC producer Bria Cousins are about to hop on a plane to France, where they'll bring live coverage beginning Monday morning. We hope you'll tune in! Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. Mary Catherine Wellons @MCWELLONS KEY STORIES Trump reverses course, says he's not considering tax cuts, because of 'strong economy' President Donald Trump says he's not currently looking at a payroll tax cut or indexing capital gains to inflation. The comments follow several days of mixed messaging from his administration about whether or how it will respond to growing recession fears. The Fed didn't need to cut rates in July, Kansas City Fed president says Kansas City Federal Reserve President Esther George disagrees with the U.S. central bank's move to cut interest rates last month, saying the economy is still strong. Fed's Harker doesn't see need for another rate cut, says central bank should stay here 'for a while' Philadelphia Fed President Patrick Harker said he doesn't see the case for additional stimulus after the Federal Reserve's July rate cut. Following Harker's comments, the bond market's main yield curve inverted for the third time in less than two weeks. Corporate earnings show trade war straining U.S. economy as companies lean on shoppers to prop up profits Big retailers like Target and Walmart posted strong earnings, but weak spots persist. Concerns about slowing global growth amid trade tensions continue to cloud the outlook. JOIN US Capital Exchange The New American Workforce Near the top of every company's list of challenges is finding the best workers to stay competitive in a tight labor market. At the same time, millions of workers live paycheck to paycheck while facing the prospect of their jobs being automated out of existence. How can the public and private sectors work together to ensure a steady supply of workers with the right skills, while providing greater economic opportunity for more Americans? The New American Workforce October 3, 2019 Washington D.C. REQUEST AN INVITATION Capital Exchange Growth in the Heartland Small and medium sized businesses are the engine of the U.S. economy, as well as local economies. As once struggling regional cities experience a renaissance with companies and young workers returning to the urban core, we ask how policy and incumbent businesses can turbocharge this trend. Growth in the Heartland December 4, 2019 Washington D.C. REQUEST AN INVITATION CNBC EVENTS CNBC Events @CNBCEVENTS Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS