Former Fed president Bill Dudley warned that the central bank risks mistiming interest rate cuts if the economy stumbles into a recession.

The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

The newly announced Sino-U.S. framework lays out a 90-day tariff truce of sorts, slashing American tariffs on Chinese goods from 145% to about 30%, while cutting Beijing’s retaliatory duties from 125% to 10%.

China trade talks, sending stocks soaring on Monday.While the deal has removed some risks weighing on stocks, some say tariffs are still a threat.Here's what some of Wall Street's top commentators have to say as US-China trade tensions cool.

China hailed a trade agreement with the U.S. that will see both sides sharply reduce their tariffs for 90 days, calling it an "important step" that could lead to "deepening cooperation" between the world's two largest economies.

The U.S. agreed to cut tariffs on Chinese goods from 145% to 30%, while China committed to reduce tariffs on U.S. products from 125% to 10%. The lowered tariffs will remain in place for 90 days while the two sides negotiate a wider trade deal.

Trade experts anticipate a spike in trade during talks and a substantial deal, but the risk of inflation and economic slowdown may not be over.

There’s more to Monday’s soaring stocks than the pause in crushing China tariffs.

Since last weekend's pause on tariffs with China was announced, stocks have been steadily regaining ground lost in April.

China criticized the trade agreement reached between the U.S. and the U.K. last week as it could potentially push Chinese products out of British supply chains.

The de-escalation provides both sides with breathing space to find a way to preserve trading ties that were threatening to grind to a halt.