The trade conflict of the past two years likely left a mark on the US economy, even with the recent agreement to defuse the situation, a Federal Reserve official said Monday. The outbreak of the new coronavirus in China adds another risk factor to the outlook, which otherwise seemed poised to provide steady growth, said Loretta Mester, president of the Federal Reserve’s regional bank in Cleveland. With the partial agreement signed with China to call a truce in the dispute with Beijing — despite leaving many tariffs in place — as well as a new continental free trade pact with Canada and Mexico, Mester said the trade picture is “somewhat better” heading into 2020.
